Hello I have a question about the ETH that are

Question

Hello I have a question about the ETH that are

staked. Lets say after 10 years LIDO project winds down. What happens to the ETH of people who lost access to their stETH? Since they wont be able to claim their ETH back

#cryptocurrency #english #lido

0

11.10.2023

11 ответов

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Marcia Ong

well you're talking about rug pulling.

0

11.10.2023

cryptodenier (will NOT dm first)

stETH represents users' stake, they need stETH to redeem their staked ETH with Lido. I don't know for certain what will happen to the ETH then, but there will likely be a discussion and a final decision made by the DAO.

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11.10.2023

Walter Автор вопроса

cryptodenier (will NOT dm first)
stETH represents users' stake, they need stETH to ...

So does this mean that LIDO has the technical ability to take control of the staked ETH, and therefore is a custodian?

0

11.10.2023

cryptodenier (will NOT dm first)

Walter
So does this mean that LIDO has the technical abil...

No, I'm talking about LDO. LDO is the governance token that governs the Lido DAO, and the actions the DAO takes.

0

11.10.2023

Walter Автор вопроса

cryptodenier (will NOT dm first)
No, I'm talking about LDO. LDO is the governance t...

I understand. So the DAO has full control over all the ETH staked, is that correct?

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11.10.2023

cryptodenier (will NOT dm first)

Walter
I understand. So the DAO has full control over all...

Essentially, yup.

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11.10.2023

Oreo

cryptodenier (will NOT dm first)
Essentially, yup.

what do you mean by essentially?

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12.10.2023

satbalwyn C

To understand it, go back to the Ethereum staking mechanism first. One validator has 2 keys: validator key and withdrawal credentials. Dao vetted NOs hold the validator keys only to run validators. Also, to exit a validator for ETH unstaking, NO has to sign an exit message using the validator key. In the context, if NO doesnt sign the message, associated ETH will not go to the withdrawal address that Lido Dao controls.

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12.10.2023

Walter Автор вопроса

satbalwyn C
To understand it, go back to the Ethereum staking ...

Is this a multi-sig wallet. With one key being with the validator and one with the DAO?

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13.10.2023

satbalwyn C

Walter
Is this a multi-sig wallet. With one key being wit...

not a multi-sig. These 2 keys have totally different purposes. https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/keys/#two-types-of-keys

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13.10.2023

Isaac Brainmind · Accepted Answer

Isaac Brainmind

I have also had a thought of that too

0

11.10.2023

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