‘Fully Trustless Protocol’: Lido Shares Update On Withdrawal Key Rotation

• Lido aims to become fully decentralized and outlined steps towards self-custody.
• No significant increase in LDO’s token value despite significant development.
• Lido updated on the unlocking and withdrawal process for staked ETH and resolved eight issues.

The most recent announcement from Lido addressed the platform’s move towards decentralization and self-custody, which was a response to previous concerns about its centralization. The update explained the steps that Lido must take in order to become a fully trustless protocol, with withdrawal key rotation being the initial step.

The update provides a breakdown of each step and its significance for the protocol’s trajectory. Despite this significant development, there doesn’t seem to be a notable increase in the token’s value.

An update on withdrawal key rotation:

TL;DR
– dc4bc audit (published)
– Withdrawal key-rotation ceremony (started)
– First key-rotation message (signed)

Importantly, this is the 1st of 3 key steps needed to turn Lido into a fully trustless protocol.https://t.co/1Jm7dn5xLA pic.twitter.com/nFYRGuKuFL

— Lido (@LidoFinance) March 17, 2023

The recent update from Lido included information ab…

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