Does Lido's Dual Governance Now Make It the Safest Place to Stake ETH? - Ep. 860

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 1 July 2025

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fill out our short Unchained survey and earn a chance to win a FREE one-year subscription to Bits + Bips Premium 😏 ------------------------------------------------- Lido just rolled out one of the most ambitious governance overhauls in DeFi: a dual governance system designed to give power back to stakers—and make it harder for malicious proposals to pass. But what does it actually do? And could it make Lido the safest place to stake ETH? Hasu, a strategic advisor at Lido, and Lido co-founder Vasiliy Shapovalov join Unchained to break it all down. How the dual governance model works Whether this dilutes LDO token value What this means for DeFi, and if others will follow Whether this might get institutions off the sidelines Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Bitwise Guests: Hasu, Strategic advisor to Lido and Strategy lead at Flashbots. Vasiliy Shapovalov, Co-founder of Lido Unchained: Lido DAO Enables Dual Governance, stETH Holders Can Trigger ‘Rage-Quit’ Mode Learn more about the topics discussed: How Liquid Staking Works What Are Externally Owned Accounts (EOAs) in Ethereum? What Is Multi-Party Computation (MPC) and How Does It Work on Blockchains? What Is Distributed Validator Technology? Timestamps: 🎬 0:00 Intro 🧩 2:07 What problem Lido’s new governance model is actually solving ⚙️ 7:33 How dual governance works—and why it’s such a big shift 🚀 15:32 Why Hasu says this changes everything for Lido 🧠 22:20 What the team had to weigh when designing the system 🛡️ 30:26 How Lido built in resistance to attacks 📉 32:02 Whether this system weakens the value of the LDO token 🗳️ 38:58 How they’re thinking about fixing DeFi’s voter apathy problem 🏦 45:29 Whether institutions will see this as a positive sign and embrace stETH 🌐 48:01 How this compares to Sky’s “emergency shutdown”—and whether DeFi will follow suit Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What can Unchained do for you? We want to know. Fill out our survey so we can serve you better,
0:06.2	and you might win a free one-year subscription to Bits and Bips Premium. Visit UnchainedCripto.com
0:11.6	slash survey. That is UnchainedCripto.com slash survey. Or check out the show notes for this episode.
0:18.0	I think for Lido in particular, it just means that LIDO, even though it's,
0:23.7	it's an upgradable smart contract system, you know, it almost has the security of an immutable
0:30.3	system in the sense that, you know, good proposals can pass, but bad proposals are now extremely
0:36.8	unlikely to pass. So it basically requires all the state E are now extremely unlikely to pass.
0:38.7	So it basically requires all the stake defaults to be kind of asleep at the wheel.
0:44.4	So this is now, this is almost like a filter that really raises the bar for how secure
0:50.8	upgradable smart contract systems can be.
0:53.9	And I think it just flat out makes LIDO, the most secure staking protocol.
1:02.0	Hi, everyone.
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1:11.7	responding to my recent interview with Lee Bratcher on the state of Texas's recently announced
1:16.2	strategic Bitcoin Reserve. On X, Storm Trade said, when states enter the Bitcoin game, it's not about if,
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1:36.1	Farcaster. This is the July 1st, 2025 episode of Unchained. Crypto moves fast. It's why Bitwise
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