TechFlow news: Lido V2 has completed its upgrade and was approved in a vote held at 1:15 AM Beijing time today. This version will allow users to withdraw their staked ETH; however, due to multiple security audits, Lido requires an additional month to process withdrawals.
Lido V2's key feature includes enabling liquid staking users to withdraw from Lido at a 1:1 ratio. Staked ETH (stETH) is an ETH derivative offered by Lido Finance. When users deposit ETH, they receive stETH, which can then be used as collateral across various DeFi protocols.
To date, over 6.1 million ETH—worth approximately $12 billion—have been staked on Ethereum via Lido.
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