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Lido Provides Update on Ethereum Withdrawals, Including Plans for V2 Upgrades

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Lido Finance, a staking protocol for Ethereum 2.0, recently provided an update on its withdrawal process for Ethereum. According to the tweet, Lido DAO is currently undergoing seven V2 audits in preparation for the upgrade.

The codebase for the upgrade is reportedly very close to being finalized, with all major fixes already merged. In addition, a four-week Goerli testnet is expected to commence next week, around March 20th.

Full thread:

Security is always the priority. It’s a fundamental part of Lido’s DNA and mission.

$1.2 million has been spent on 7 V2 audits, the results of which will be made publicly available upon completion.

So far they’ve uncovered several findings that have required swift attention.

As of last friday, all key findings have been remediated and the relevant fixes merged: https://github.com/lidofinance/lido-dao/pull/659… The updated contracts have been deployed to Zhejiang where they are currently being tested.

What does this mean for the timeline?

Lido DAO contributors have been testing functionality on Zhejiang since Friday.

While the Goerli hardfork is expected to happen later today, the time spent on addressing audit results has had a knock-on effect on Lido’s Goerli timeline.

While the goal was to be ready for the Goerli hardfork this evening, the target date for the Lido upgrade has been pushed back to next week.

It is estimated that Node Operators will need 3-4 weeks to fully implement and test validator exits once the upgrade goes live.

In addition to this, stETH withdrawals won’t launch on mainnet until all audits concerning on-chain code are completed (expected end of April).

Adding another 2 weeks as a safety margin, the current expectation is for mainnet withdrawals to be live around mid May.

P.S. of the 7 V2 audits, 2 have completed and 5 are in progress. Full reports will be posted publicly as they become available. - @sigp_io dc4bc Security Audit https://github.com/lidofinance/audits#03-2023-sigma-prime-dc4bc-security-audit… - @chain_security Lido Staking Router Audit

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