Ethereum

What are people's thoughts on Lido about to pass Danny Ryan's critical threshold of 33%, it currently sits at 32.3%

https://dune.com/hildobby/eth2-staking
https://notes.ethereum.org/@djrtwo/risks-of-lsd

For more: https://open.spotify.com/episode/6NwUIEMohR2R2klRl9OkBK?si=72d804943fe741a2 @evanvanness

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

// Who am I to argue?


/ethereum foundation | control the memes control the minds paragraph.xyz/@chaskin

TLDR why he thinks it's a major concern: A small group of people (VCs) control the majority of the LDO governance token. If Lido exceeds the 33% threshold and regulators tell the VCs to shut it down, the network could face finality disruptions and could face potential coordinated manipulation or censorships attacks

Strategy lead flashbots.net

Advisor LidoDAO and Steakhouse.financial

TLDR why it's not: Ultimately, one LSD will dominate due to superior fees, liquidity, etc. If Lido doesn't surpass the 33% threshold, another LSD will. To align Lido more closely with Ethereum, a dual governance structure is in place, allowing stETH holders to veto LDO holder proposals

Correct me if I'm wrong @hasu

“Ultimately, one LSD will dominate due to superior fees. If Lido doesn't surpass the 33% threshold, another LSD will”

This is nothing more than a guess^^ what bothers me is I keep seeing it everywhere presented as a “holy truth”