Liquid Staking Leader Lido Upgrades to Second Version on Ethereum

Lido upgraded to its second version (“V2”) on Ethereum later Monday, sending LDO, its native governance token, up 10% to $2.15 in the past 24 hours, CoinDesk data shows. Users can now unstake their stETH and receive ETH at a 1:1 ratio, which takes about a day for most users if the exit queue on the Beacon chain is empty, according to a blog post. The maximum time that it might take for a validator to exit and withdraw from the staking queue stands at 5 days and 14 hours, data from network explorer Rated. Users will also receive an NFT as an intermediate step between requesting to unstake and claiming one’s ETH.

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