Ethereum

Lido is a systemic risk to ETH

https://podcasters.spotify.com/pod/dashboard/analytics

Several media outlets have reported that I am the Chief Decentralization Officer of Ethereum

// Who am I to argue?


This was a great discussion. Thanks to whoever put the timestamps in the Youtube comments! :) 

Couple thoughts: 
- 47:20 idea that people have chosen Lido for being "more secure" was discussed and argued against: 1) big picture systemic security risk, 2) upgradeable smart contract risks, and 3) governance risk. 

/1

"The image in my mind gives way to the real waterfall I am painting, which is now so much stronger that at times the original image slips away." - Hiroshi Senju

What about private key management for node operators, how they compare to other LSTs? Where does idea that Lido is more secure actually come from, is there anything rooted in truth there to call out? Is this an opportunity for other LST protocols to improve to better compete? Interested to go deeper on this one. 

/2

- rated.network is a good monitoring site for this part of the ecosystem but what other metrics should it include? some ideas: an objective security rating, protocol token holding / staking requirements, upgradeable smart contracts risk level, governance risk level.

/4

- Can you elaborate on what you mean by the oracle risk of Lido as noted at 49:00? Wondering if / to what extent other LSTs have that too or not.
- Why are all the client teams Lido operators, do we know why they are and why they are choosing to not be operators for other networks?

/3