New Stakers On Lido Joined Via Staking Projects: Analysis

75% of the new stakers on Lido joined via staking projects in the past 30 days as the latest data shows so let’s find out more in today’s latest blockchain news.

Lido finance revealed that 75% of the new stakers on the Beacon Chain, joined the project in the past 30 days via staking projects. Staking on Beacon Chain was booming because of the ETH merge despite the delays but a major chunk of new stakers on the layer done so using Lido Finance. The project revealed that 75% of the new stakers on the Beacon chain joined in the past 30 days utilized the staking protocol.

With the ETH Merge approaching, the staking on the Beacon Chain intensified as expected and according to Lido, the blockchain is secured by $53 billion in staked assets while the project contributes a huge share in the past month. This spread concerns about centralization among the community that Lido noted:

“While this validates our mission to democratize staking in Ethereum, some people have expressed concern that this level of success can make Lido a centralizing force. We hear you, and your concerns are both important to us and valuable to Ethereum as a whole.”

11/11
You can expect further announcements from us during talks next week ETHAmsterdam and @EFDevconnect.

Check out the full blog post here:https://t.co/wSwzOwDTlv

— Lido (@LidoFinance) April 14, 2022

As such, Lido announced adopting the Distributed Validator Technology whose system will categorize validators into independent committees that propose and attest the blocks together. The main goal is to minimize the risks related to the individual validator underperforming or becoming malicious. On the DVT implementation, LIDO will pair untrusted node operators with most of the trusted node operators contributing to the decentralization process without posing a threat to the stakers on Lido or Ethereum.

Another major improvement that the platform aims to adopt is the creation of the Node Operator Score from other metrics and distributing stakes based on the same. The scoring system will enable the individuals to join Lido as a node operators and to build up a stake over time. LDO is the native token surged 257% from a low of .
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36 to hit a new high of $4.86 in a matter of 10 days. While the traction was strong, ETH Merge will take place a few months after June and the leading developer Tim Beiko revealed that the Merge touted as a stepping stone for the blockchain is in the final stages while stressing that the initiative is set to occur later than most of the users anticipate.