斯特斯持有者將獲得Lido Finance的直接投票權

以太坊（以太坊最大的液體蒸發平台按鎖定價值）提出了一項提議，該提議是授予Ether（Steth）持有人直接投票權的提議

Lido Finance, the largest liquid staking platform on Ethereum, is planning to grant staked ether (stETH) holders direct voting power alongside existing DAO tokenholders.

Lido Finance是以太坊上最大的液體蒸發平台，計劃與現有DAO Tokenholder一起授予Staked Ether（Steth）持有人直接投票權。

The upgrade, proposed in Lido Improvement Proposal (LIP) 28, would create a dual governance system.

Lido改進建議（LIP）28中提出的升級將創建雙重治理系統。

StETH holders, who stake ETH via Lido to receive a liquid token in return, would be able to participate in a veto mechanism on key protocol decisions.

通過利多（Lido）將ETH的Steth Holders獲得液體令牌作為回報，他們將能夠參與關鍵協議決策的否決機制。

Currently, only holders of LDO$, Lido’s governance token, have a say in how the protocol evolves.

目前，只有Lido的治理令牌LDO $的持有人就協議如何發展有發言權。

Under the new system, stETH holders could veto certain proposals approved by LDO tokenholders, though the veto would not enable them to push proposals through unilaterally.

在新系統下，斯特斯持有者可以否決LDO代幣持有人批准的某些建議，儘管否決權不能使他們單方面推動提案。

Dual Governance: Coming SoonYears in the making, Lido DAO contributors are proud to present an outline for the upcoming release of Dual Governance featuring design & code choices, parameters, deployment & rollout.https://t.co/Iu7J1cOlcr

雙重治理：製作中的suonyars，Lido Dao的貢獻者很榮幸為即將發布的雙重治理髮行概述，其中包含設計和代碼選擇，參數，部署和推出。

The proposed system is framed as a mechanism to increase accountability and decentralization, especially as Lido continues to dominate Ethereum’s staking landscape.

提出的系統被構建為增加問責制和權力下放的一種機制，尤其是當利多（Lido）繼續主導以太坊的堆積景觀時。

More than 25% of all ETH is staked on the network running through its infrastructure.

超過25％的ETH被放在通過其基礎架構運行的網絡上。

How it works

它如何工作

The Dual Governance system adds a special timelock contract between Lido DAO’s decisions and their execution, giving stETH holders a way to intervene if they strongly oppose a proposal.

雙重治理體系在Lido Dao的決定與執行權之間增加了特殊的時間表合同，如果他們強烈反對提案，就為Steth Holders提供了一種干預的方式。

The "dynamic" time lock is necessary because it is how on-chain governance technically works behind the scenes.

“動態”時間鎖定是必要的，因為這是鍊子治理從技術上講在幕後工作的方式。

In the current system, decisions don’t take effect right away, as there is a set period before they’re executed. That gives users time to react if they don't agree with certain changes.

在當前系統中，決策不會立即生效，因為在執行之前有一定的階段。如果用戶不同意某些更改，這使他們有時間做出反應。

However, Ethereum staking is different because one can’t quickly unstake or withdraw ETH, even with the current timelock. It takes time, liquidity is complex, and there is often a queue that could take several days to clear.

但是，以太坊的佔用是不同的，因為即使當前的時間表也無法快速刪除或撤回ETH。這需要時間，流動性很複雜，通常有一個隊列可能需要幾天才能清除。

The new proposal wants to tackle that.

新提議希望解決這個問題。

The proposed dynamic timelock assumes that, as enough users, who aren't satisfied with a proposed change, deposit their stETH (or wrapped stETH and withdrawal of NFTs) into a designated escrow contract for withdrawal, the timelock duration begins to increase — this is called crossing the “first seal” (set at 1% of total Lido ETH staked).

擬議的動態時間曲目假設，作為足夠的用戶，對擬議的更改不滿意的用戶將其steth（或包裹的steth和nfts撤回）存入指定的託管合同以進行撤回，時間索洛克持續時間開始增加 - 這被稱為“越過第一密封”（以總Lido Eth固定為1％）。

If discontent continues and deposits cross the “second seal” threshold (10% of Lido’s ETH TVL), a "rage quit" is triggered: execution of the DAO’s decision is completely blocked until all protesting stakers have had the chance to withdraw their ETH.

如果不滿繼續並延續“第二密封”閾值（佔Lido的ETH TVL的10％），則會觸發“憤怒退出”：執行DAO的決定將完全阻止，直到所有抗議的抗議Stakers都有機會撤回他們的ETH。

This creates a sort of safety valve — allowing stakers to signal objection and exit — while still giving the DAO time to respond or cancel the contentious action.

這創建了一種安全閥 - 允許Stakers發出反對和退出的信號，同時仍使DAO有時間做出響應或取消有爭議的行動。

The plan comes as Ethereum has surged more than 30% over the past week, riding momentum from its Pectra upgrade, which introduced execution-layer reforms to improve scalability and efficiency.

該計劃是因為以太坊在過去一周中飆升了30％以上，並從其pectra升級中揮舞著動力，這引入了執行層改革以提高可擴展性和效率。

The rally has sparked renewed attention on Ethereum-native applications like Lido, which is critical in capital flow and validator participation across the chain — and directly impacts ETH market structure.

集會引發了人們對以太坊的新應用等新的關注，例如Lido，這在整個鏈條中的資本流和驗證者參與至關重要，並直接影響ETH市場結構。

The LIP-28 proposal is still in its discussion phase, with a formal on-chain vote expected in the coming weeks.

LIP-28提案仍處於討論階段，預計未來幾週將進行正式的鏈投票。

If approved, the change could shift how governance is distributed across Ethereum’s staking ecosystem, setting a precedent for other DeFi protocols seeking to include users, not just tokenholders, in decision-making. Lido's other competitors include Rocket Pool and Frax Ether.

如果獲得批准，這一變化可能會改變如何在以太坊的堆積生態系統中分配治理，從而為尋求在決策中包括用戶，而不僅僅是代幣的其他規程設定先例。裡多（Lido）的其他競爭對手包括火箭池和弗拉克斯（Frax Ether）。

LDO prices have risen 6.5% in the past 24 hours, while the CoinDesk 20 Index, a broader market gauge, climbed 2.5%.

在過去的24小時內，LDO價格上漲了6.5％，而Coindesk 20指數（更廣泛的市場量表）上升了2.5％。