182 - In Defense of Lido, w/ Hasu
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 7 August 2023
⏱️ 88 minutes
🧾️ Download transcript
Summary
Lido has over 30% ETH staked. Should we be alarmed? Joining us is Hasu to shed some light on this question.
In this wide ranging interview we discuss the State of Staking, the state of Lido, Idealist vs Pragmatics and asking the question - is Lido's reputation unfair?
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TIMESTAMPS
0:00 Intro
4:34 Is Lido's Perception Unfair?
9:08 Is Lido Too Big To Fail?
15:57 What Can An Entity Do With 33%?
21:27 TLDR Recap and Overview
24:11 When Does Lido Risk Become Systemic
32:54 Lido Is Not One Entity
36:40 Node Operators vs DAO
41:19 LDO Governance
49:39 Is Lido Forkable?
52:37 The Path To 5,000 Operators
58:46 Distributed Validator Technololgy
1:08:16 Addressing The Critics
1:17:31 The Staking Social Layer
1:24:40 Is Lido Treated Unfairly?
1:26:47 Can We Keep Ethereum Decentralized?
1:30:07 Risks and Disclaimers
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Resources
Hasu on Twitter: https://twitter.com/hasufl
Uncommon Core v2: https://www.ucc2.xyz/
Hasu last on Bankless: https://youtu.be/1qqkoGatPdE
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Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | There are some criticisms in the community about Lido right now, and I think there's the |
| 0:04.5 | perception among critics that this would not be a good thing. |
| 0:08.4 | Do you think this addresses the critics' critiques, or do you think there's still something |
| 0:13.0 | to them? |
| 0:14.0 | Ryan, in order to answer that, I want to take a kind of a step back, it's not a light |
| 0:17.6 | or problem, right? |
| 0:18.6 | This is kind of a general problem that Ethereum is dealing with and has to deal with. |
| 0:28.3 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:32.2 | This is how to get started, how to get better, how to frontrun the opportunity. |
| 0:34.8 | This is Ryan Sean Adams. |
| 0:35.8 | I'm here with David Hoffman, and we're here to help you become more Bankless. |
| 0:40.5 | Lido has over 30% eth-staked right now. |
| 0:43.6 | All of the eth-staking 30% is in Lido. |
| 0:45.8 | Should we be alarmed by this? |
| 0:47.4 | Is this a threat to Ethereum's decentralization? |
| 0:50.6 | That's where we start this episode today, but we didn't end the episode there. |
| 0:53.4 | We also got into the more meaty topic. |
| 0:55.1 | Is it even possible to keep Ethereum decentralized over the long run? |
| 0:59.1 | The guest today is protocol researcher Hasu, and this is a fantastic episode, a few takeaways |
| 1:03.9 | for you. |
| 1:04.9 | Number one, we talk about the state of staking, as it is today. |
| 1:07.7 | What happens when an entity controls over one-third of Ethereum's stake? |
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