Lido v3 Deep Dive | Hasu & Konstantin
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Everyone. Quick disclaimer before we get into today's episode. Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely our opinions, not financial advice. Our guests and I may hold positions in the companies, funds, or projects discussed. Alright, everyone. Welcome back to another episode of Bell Curve. Today, I'm joined by a friend of the pod, Hasu, and first time joiner, Konstantin Lomashuk of Lido and Cyberfund fame. Guys, welcome. Hi,
Mike. Thanks for having us. Hi, Konstantin. Hey,
guys. This is gonna be a really fun episode. So we are gonna be talking all about Lido v three, which was just announced today. And, I wanna caveat up for listeners as well. Hasso and I actually did an episode back in December, where we laid some of the groundwork, and we discussed, Goose two and some of the, just dynamics that are going on in the liquid staking ecosystem in Ethereum and how that led to this new design. We're gonna do a quick overview, but if for folks that wanna go deeper, we're gonna link the episode in the show notes, and I highly recommend that folks go listen to that epis
Yeah. Sure. So, I think the most important thing to know is that, when LIDO launched, LIDO is a liquid staking protocol. And back then, the expectation was that liquid staking is by far the most dominant best form of staking because you get full liquidity on your stake, and it's very decentralized, noncustodia, and, like, all of those nice things. And, the liquid staking market was, you know, like, the staking market itself was growing as kind of, you know, more and more money flowed into the Beacon chain, and people wanted to secure Ethereum and get access to yield. And that became more and m
Yeah. You know, like, I think that, the main important thing, to understand that Lido was launched as our mission driven decentralized autonomous organization. And the main mission is to make Ethereum decentralized or keep it, you know, like, because it's already great, you know, and always were great, you know, like, and, are more and also, like, censorship resistant. You know? Like, why? Because taking was complex from day one. And, in general, you know, like, we would like to make made it simple with their mission, you know, like, to keep it decentralized. And their with the goose, you know
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Yeah. Maybe I will start here. So first of all, you know, like, we need to to to go to v three, we need to understand where is LiDAR. You know? Like Mhmm. And I think where is LiDAR today is, first of all, like, the biggest DeFi protocol by TBL. You know? Like, second, you know, like, it is our made Ethereum decentralized from day one of proof of state. And in general, it's committed to some, plans or, like, in general, some features and consistently delivering these things. You know? Like, we need to understand it. You know? Like, for example, you know, like, back when
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