Oh, dear! Lido DAO is currently being squeezed by a horde of problems: declining market share, organizational reshuffling, technical gremlins, and a withdrawal queue longer than a chocolate factory’s conveyor belt. 🤯
Lido still lords over Ethereum’s staking kingdom, but to keep its crown, it must juggle adaptability, innovation, and transparent governance like a circus performer with a caffeine addiction. 🤹♂️
Lido’s ETH Staking Market Share Hits a Three-Year Low (Or, How a Giant Marshmallow Shrunk Like a Sad Balloon)
Lido, Ethereum’s self-proclaimed staking kingpin, has been acting like a toddler with a sugar crash. According to Dune’s data, its ETH staking share has plummeted to 24.6%, the lowest in three years. This is as shocking as a vegan eating a steak dinner. 🐄
Why, you ask? Well, maybe because rivals like Rocket Pool are flexing their muscles, and exchanges like Coinbase are offering staking options smoother than a freshly waxed bowling lane. Ethereum’s love for decentralization is also giving Lido the cold shoulder, like a ghost at a séance. 👻
And just when you thought Lido couldn’t get any more chaotic, it revealed a sneaky little gremlin in its RageQuit mechanism. While no funds were lost (phew!), it’s a reminder that even staking giants can trip over their own socks. 🤷♂️
Meanwhile, the ETH withdrawal queue on Lido is now longer than a queue for a haunted house at a horror convention. Over 143,000 ETH is waiting to escape, and users are starting to wonder if their staked coins are playing hide-and-seek. 🕵️♂️
In a move that screams “budget day at the office,” Lido just axed 15% of its team. Co-founder Vasiliy Shapovalov explained it’s about costs—not performance—and praised the “incredibly talented” folks being let go. Because nothing says “team-building” like reshuffling the deck chairs on the Titanic. 🚢
“This decision was about costs — not performance. It affects incredibly talented people who helped shape the protocol and community.” Vasiliy Shapovalov shared on X, while secretly wondering if this is the start of a dystopian sci-fi novel. 📖
Downsizing? Not necessarily a disaster. But it’s a sign that Lido is trying to stay afloat in a sea of change. Whether it can ride the waves or will capsize like a poorly built raft remains to be seen. 🌊
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2025-08-04 13:26