The Lido community has voted to against the governance proposal limiting Ethereum staking on the Lido liquid staking protocol. The proposal has received 99% votes in opposition to self-limiting the percentage of Ethereum that can be staked.
Lido Community Votes Against Proposal to Limit Ethereum Staking
The Lido community is currently voting on the governance proposal “Should Lido consider self-limiting?” after several Ethereum developers including Vitalik Buterin, Superphiz, and Danny Ryan claimed that no single staking protocol should have a majority in staking Ethereum.
The proposal is open for voting from June 24-July 1, but the current voting shows majority opposes the proposal to limit the amount of Ethereum staking on Lido. Almost 99.81% of people have voted “no, don’t self-limit” while only 0.19% of people have voted “yes, let’s self-limit.”
The vote will help determine the growth of a protocol in Ethereum’s proof-of-stake chain and decentralized governance. A successful vote would have bound the protocol to “decreasing inbound stake flow in any shape, form or severity.” As per the current voting, the team will not continue working further until questions are raised against the protocol.
As per Dune Analytics, Lido currently accounts for a 31.63% market share with 4.126 million Ethereum staked. Followed by Kraken at only 6.4% market share.
