斯特斯持有者将获得Lido Finance的直接投票权

以太坊（以太坊最大的液体蒸发平台按锁定价值）提出了一项提议，该提议是授予Ether（Steth）持有人直接投票权的提议

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体蒸发平台，计划与现有DAO Tokenholder一起授予Staked Ether（Steth）持有人直接投票权。

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

Lido改进建议（LIP）28中提出的升级将创建双重治理系统。

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.

通过利多（Lido）将ETH的Steth Holders获得液体令牌作为回报，他们将能够参与关键协议决策的否决机制。

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 $的持有人就协议如何发展有发言权。

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.

在新系统下，斯特斯持有者可以否决LDO代币持有人批准的某些建议，尽管否决权不能使他们单方面推动提案。

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

双重治理：制作中的suonyars，Lido Dao的贡献者很荣幸为即将发布的双重治理发行概述，其中包含设计和代码选择，参数，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.

提出的系统被构建为增加问责制和权力下放的一种机制，尤其是当利多（Lido）继续主导以太坊的堆积景观时。

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

超过25％的ETH被放在通过其基础架构运行的网络上。

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.

双重治理体系在Lido Dao的决定与执行权之间增加了特殊的时间表合同，如果他们强烈反对提案，就为Steth Holders提供了一种干预的方式。

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

“动态”时间锁定是必要的，因为这是链子治理从技术上讲在幕后工作的方式。

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.

在当前系统中，决策不会立即生效，因为在执行之前有一定的阶段。如果用户不同意某些更改，这使他们有时间做出反应。

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，以太坊的占用是不同的，因为即使当前的时间表也无法快速删除或撤回ETH。这需要时间，流动性很复杂，通常有一个队列可能需要几天才能清除。

The new proposal wants to tackle that.

新提议希望解决这个问题。

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).

拟议的动态时间曲目假设，作为足够的用户，对拟议的更改不满意的用户将其steth（或包裹的steth和nfts撤回）存入指定的托管合同以进行撤回，时间索洛克持续时间开始增加 - 这被称为“越过第一密封”（以总Lido Eth固定为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.

如果不满继续并延续“第二密封”阈值（占Lido的ETH TVL的10％），则会触发“愤怒退出”：执行DAO的决定将完全阻止，直到所有抗议的抗议Stakers都有机会撤回他们的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.

这创建了一种安全阀 - 允许Stakers发出反对和退出的信号，同时仍使DAO有时间做出响应或取消有争议的行动。

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.

该计划是因为以太坊在过去一周中飙升了30％以上，并从其pectra升级中挥舞着动力，这引入了执行层改革以提高可扩展性和效率。

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.

集会引发了人们对以太坊的新应用等新的关注，例如Lido，这在整个链条中的资本流和验证者参与至关重要，并直接影响ETH市场结构。

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

LIP-28提案仍处于讨论阶段，预计未来几周将进行正式的链投票。

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.

如果获得批准，这一变化可能会改变如何在以太坊的堆积生态系统中分配治理，从而为寻求在决策中包括用户，而不仅仅是代币的其他规程设定先例。里多（Lido）的其他竞争对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%.

在过去的24小时内，LDO价格上涨了6.5％，而Coindesk 20指数（更广泛的市场量表）上升了2.5％。