Lido Announces Dual Governance Interpreter, Aims to Protect stETH Holders

According to Foresight News, Lido has announced the release of a dual governance interpreter on its forum. The temperature check snapshot vote is scheduled to go live on April 18. If the vote passes, it is expected to deploy a test network in the third quarter and a main network in the fourth quarter. The dual governance system allows stETH holders to delay any proposed changes to the Lido protocol in the worst-case scenario until they fully withdraw ETH from the protocol. The goal of dual governance is to prevent LDO holders from changing the protocol's social contract with stETH holders without their consent. In July 2023, Foresight News reported that according to Decrypt, Lido DAO contributor Marin Tvrdić stated during the EthCC event that Lido DAO members are pushing for a dual governance model. This model would give veto power over governance proposals approved by LDO holders to Lido users who stake Ethereum and hold stETH.