Bankless

182 - In Defense of Lido, w/ Hasu

Aug 7, 2023

Hasu, an independent researcher in crypto and strategic advisor to Lido, joins the conversation to explore Lido's significant stake in Ethereum. He tackles concerns about centralization, questioning if the perception of Lido is unfair. The discussion includes the implications of Lido controlling over 30% ETH, governance challenges, and strategies to maintain decentralization. Hasu also delves into the potential risk of Lido becoming too dominant and what it means for the future of Ethereum's staking landscape.

01:27:58

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Episode guests

Hasu

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Episode notes

Intro

3min

Exploring the Complexities of Lido and Its Ecosystem

5min

Unpacking Lido: Risks and Governance in Ethereum Staking

21min

Navigating MEV and Governance in Lido

19min

Exploring Lido Governance and DeFi Innovations

3min

The Forking Dilemma: Lido's Governance Challenges

25min

Balancing Decentralization and Pragmatism

9min

Maintaining Decentralization in Ethereum's Evolving Landscape

3min

Lido has over 30% ETH staked. Should we be alarmed? Joining us is Hasu to shed some light on this question.

In this wide ranging interview we discuss the State of Staking, the state of Lido, Idealist vs Pragmatics and asking the question - is Lido's reputation unfair?

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0:00 Intro 4:34 Is Lido's Perception Unfair? 9:08 Is Lido Too Big To Fail? 15:57 What Can An Entity Do With 33%? 21:27 TLDR Recap and Overview 24:11 When Does Lido Risk Become Systemic 32:54 Lido Is Not One Entity 36:40 Node Operators vs DAO 41:19 LDO Governance 49:39 Is Lido Forkable? 52:37 The Path To 5,000 Operators 58:46 Distributed Validator Technololgy 1:08:16 Addressing The Critics 1:17:31 The Staking Social Layer 1:24:40 Is Lido Treated Unfairly? 1:26:47 Can We Keep Ethereum Decentralized? 1:30:07 Risks and Disclaimers ----- Resources

Hasu on Twitter: https://twitter.com/hasufl Uncommon Core v2: https://www.ucc2.xyz/ Hasu last on Bankless: https://youtu.be/1qqkoGatPdE

----- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

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