利多（Lido）提出的“双重治理”模型，使斯特斯霍德（Steth Holders）能够挑战LDO的决策，这表明在Defi治理中向用户增强权力的关键转变。

Lido, stETH, and Governance: A New Era of Shared Power?

里多（Lido），斯特斯（Steth）和治理：共同权力的新时代？

The world of DeFi governance is about to get a whole lot more interesting. Lido DAO is on the cusp of potentially revolutionizing its governance model, giving stETH holders a real voice. This could be a game-changer, so let's dive in!

Defi治理的世界将变得更加有趣。丽多道（Lido Dao）处于潜在地改变其治理模式的风口浪尖，使史丝·霍尔德（Steth Holders）具有真实的声音。这可能是改变游戏规则的人，所以让我们潜入！

Lido's Proposed 'Dual Governance': Power to the stETH Holders

里多（Lido

Lido DAO is considering a 'Dual Governance' system that would empower stETH holders to challenge decisions made by LDO token holders. Imagine a scenario where stETH users can actually delay the execution of DAO proposals they deem problematic. That's the power this new system aims to provide.

Lido Dao正在考虑一种“双重治理”制度，该制度将使Steth Holders挑战LDO代币持有人做出的决定。想象一个场景，STETH用户实际上可以延迟他们认为有问题的DAO建议的执行。这就是这个新系统旨在提供的力量。

This isn't just some simple timelock. Lido's approach dynamically extends the waiting period based on the level of opposition a proposal faces. If a significant chunk of stETH holders raise concerns, delays could stretch up to 45 days! That's ample time for users to make informed decisions and, if necessary, exit before a change takes effect.

这不仅仅是一些简单的时间表。利多的方法根据建议面对的反对派水平动态扩展了等待期。如果大量的斯特斯持有人引起了人们的关注，延迟可能会延长45天！这是用户做出明智决定的充足的时间，并在必要时退出更改之前退出。

Why This Matters: Addressing Liquidity Concerns

为什么这很重要：解决流动性问题

One of the biggest challenges in liquid staking is giving users enough time to react to governance actions, especially when ETH withdrawal queues can take weeks. This flexible approach is designed to address that head-on. It's about finding the right balance between trust and liquidity in DeFi governance.

液体蒸发中最大的挑战之一是给用户足够的时间来应对治理行动，尤其是在ETH退出队列可能需要数周的时间时。这种灵活的方法旨在直接解决该方法。这是关于在辩护治理中找到信任和流动性之间的适当平衡。

stETH: More Than Just a Token

斯特斯：不仅仅是一个令牌

stETH, Lido Finance's liquid staking token, represents staked Ethereum (ETH). It allows holders to earn staking rewards while maintaining a liquid, tradable asset. With a massive TVL, stETH is a major player in the Ethereum staking ecosystem.

Lido Finance的液体含有代币的Steth代表了以太坊（ETH）。它允许持有人在维持液体可交易的资产的同时获得积分奖励。斯特斯（Steth）凭借大量的TVL，是以太坊Stating生态系统的主要参与者。

stETH and Institutional Lending: A Growing Trend

斯特斯和机构贷款：增长的趋势

The integration of stETH into institutional lending platforms, like the partnership between Maple Finance and Lido, is a significant trend. Institutions are now using stETH as collateral for stablecoin loans, unlocking liquidity without sacrificing staking rewards. This is a win-win, allowing for efficient treasury management and capital deployment.

将斯特斯（Steth）集成到机构贷款平台中，例如枫树金融与利多尔（Lido）之间的伙伴关系，是一个重大趋势。现在，机构正在使用Steth作为Stablecoin贷款的抵押品，在不牺牲Stick Rewards的情况下解锁流动性。这是双赢，允许有效的国库管理和资本部署。

Maple Finance: Bridging the Gap

枫树金融：弥合差距

Maple Finance is playing a key role in this evolution by accepting stETH as collateral. This provides institutions with a seamless solution for accessing liquidity while keeping their core assets productive. It's all about making DeFi more accessible and efficient for institutional players.

Maple Finance通过接受Steth作为抵押品在这一进化中发挥了关键作用。这为机构提供了一种无缝解决方案，可在保持其核心资产富有成效的同时获得流动性。这一切都是为了使Defi对于机构参与者更容易访问和高效。

The Bigger Picture: DeFi's Maturation

更大的局面：Defi的成熟

This shift towards shared governance and the integration of liquid staking tokens into institutional finance highlights the increasing maturity of the DeFi space. We're seeing a move towards more sophisticated and user-centric governance models, as well as the growing acceptance of DeFi by traditional financial institutions.

向共同治理的转变以及将液体占有代币融入机构金融的转变突出了偏移空间的成熟度的日益增加。我们正在看到朝着更复杂和以用户为中心的治理模型以及传统金融机构对Defi的日益接受的转变。

My Take: A Positive Step, But Vigilance is Key

我的看法：积极的一步，但警惕是关键

Personally, I think this is a positive step towards a more balanced and user-friendly DeFi ecosystem. Giving stETH holders a voice is crucial for ensuring that governance decisions are aligned with the interests of the broader community. However, it's essential to remain vigilant and ensure that this new system is implemented effectively and doesn't create unintended consequences. After all, with great power comes great responsibility... and the potential for some serious drama!

就我个人而言，我认为这是迈向更平衡和用户友好的自我生态系统的积极步骤。给史丝·霍尔德的声音对于确保治理决策与更广泛的社区的利益保持一致至关重要。但是，必须保持警惕，并确保该新系统有效地实施，并且不会产生意想不到的后果。毕竟，拥有强大的力量带来了巨大的责任……以及一些严肃的戏剧的潜力！

The proposed system has been stress-tested, including simulations involving flash loans. Wrapped versions of stETH used in yield strategies aren’t eligible to vote directly, but can be withdrawn to gain voting rights.

提出的系统已进行了应力测试，包括涉及闪光贷款的模拟。在收益策略中使用的包装版本的steth版本没有资格直接投票，但可以撤回以获得投票权。

By effectively decoupling voting power from execution authority, Lido aims to resolve the long-standing dilemma between trust and liquidity in DeFi governance. The model has already gained early approval in a Snapshot vote and, if passed on-chain, could inspire similar frameworks across other decentralized protocols.

利多（Lido）有效地将投票权与执行机构脱在一起，旨在解决在辩护治理中的信任和流动性之间的长期困境。该模型已经在快照投票中获得了早期批准，如果通过链，可以激发其他分散协议的类似框架。

Final Thoughts: The Future is Decentralized (and Hopefully, More Balanced)

最终想法：未来是分散的（希望更平衡）

So, what does all this mean? It means that the future of DeFi governance is looking brighter, with more power in the hands of the users. It's a wild ride, but I'm here for it. Let's see how this 'Dual Governance' system plays out – it could be the start of something truly special. And hey, even if it's not, at least we'll have some good drama to watch unfold!

那么，这意味着什么？这意味着Defi治理的未来看起来更加明亮，用户手中的力量更大。这是一次疯狂的旅程，但我在这里。让我们看看这个“双重治理”系统的效果 - 这可能是真正特别的事情的开始。嘿，即使不是，至少我们会有一些好的戏剧来观看！