Ethereum staking solution Lido Finance, which gained huge popularity after the Merge update, is expected to release its V2 upgrade on the first day of next week.
In parallel with Shapella, which was completed on the ETH network in April, Lido Finance V2 will allow users who stake Ethereum on the platform to withdraw.
According to the data announced by the Ethereum liquid staking solution platform, as of writing, 6,550,000 ETH ETH is in the pool of Lido. The average annual return of staking activity was stated as 7%.
Lido Developer Speaks to Crypto Press
A blog post by Eugene Mamin from the Lido Finance team revealed some details for the withdrawals. Emphasizing that investors should not worry, Mamin stated that ETH withdrawal requests will be completed the next day.
Going into further detail, the Lido developer added that they have set up 270,000 ETH collateral to facilitate Ethereum exit.
A Lido V2 Audit Update:
Security is a top priority. To this end Lido DAO dedicated significant effort to 9 independent V2 audits.
These audits have uncovered important findings, all of which have been either acknowledged or fixed.
— Lido (@LidoFinance) May 10, 2023
Sharing on the official Twitter account during the week, the Lido team emphasized that they have passed an independent audit for the update and that security is the most important parameter.