Lido DAO recently completed an important audit process concerning the second version of the protocol (V2). Through the collaboration of eight teams of independent auditors, security has been made a top priority. These audits uncovered crucial findings, which were then either acknowledged and fixed. ChainSecurity, SigmaPrime, MixBytes Camp, Hexens, StateMind, Certora and Oxorio were amongst the auditors involved. The final audit of Foxorio is set to be released by the end of May.
In April, a SushiSwap attack occurred, resulting in a loss of over $3.3 million. Lido DAO is currently debating a proposal to restore the funds that ended up in its execution layer rewards vault as a result of this. Since then, Lido Finance has been preparing for their V2 update, which is set to be released on May 15th. This will also include a withdrawal queue which will only take a few days to be completely emptied.
Upon the completion of this update, there will be approximately 270,000 ETH in stock. This ensures that withdrawal requests are completed quickly and efficiently. Additionally, after the verification of the transaction is done, the original withdrawal request is fulfilled.
Ultimately, the completion of these audits and the proposed plans for their V2 update show that Lido DAO has placed an utmost importance on the security of their protocol. Through their commitment to these changes, customers will not have to worry about any further attacks or losses in the future.
Jordan Ramos
- 2023-05-11
Lido DAO Makes Security a Top Priority with V2 Update
Lido DAO has recently completed their audit process and is now preparing their V2 protocol update. Through their commitment to security, customers can rest assured that their funds are safe.
