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Lido DAO's Dual Governance Proposal Approved, Set to Launch on July 4th

Summary: In a recent announcement, Lido Finance revealed that its LDO holders have approved a dual governance proposal for Lido DAO. The voting process included forum discussions, off-chain voting, and on-chain voting. The dual governance introduces a new phase allowing stETH holders to oppose decisions made by LDO. Specific mechanisms include adding an additional time lock ...

In a recent announcement, Lido Finance revealed that its LDO holders have approved a dual governance proposal for Lido DAO. The voting process included forum discussions, off-chain voting, and on-chain voting. The dual governance introduces a new phase allowing stETH holders to oppose decisions made by LDO. Specific mechanisms include adding an additional time lock of 5 to 45 days when 1% TVL is locked, and triggering a 'rage quit' when 10% TVL is locked, halting all proposals until the assets are withdrawn from the protocol. This mechanism is set to officially launch on July 4th, with the first proposal to be fully implemented after testing in the new phase.

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