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The Business Model of LSTs: Banks, Bribes, and LSTaaS | Adrian & Vance

Bell Curve

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The Threat of Bribing People for Governance

A large depositor who is large enough could potentially influence the direction of governance through, you know, cutting into some of their profits by buying blocks of governance support for certain things. It's a possibility because in effect, the fee in the sticking returns set by governance at the moment, it's a variable. But I think that the intention is to hard code this and to minimize this. And then the other one is the importance of introducing this aspect of a dual governance veto over LDO token holder decisions.

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