• Lido Finance announced that withdrawals of Lido-staked ETH (stETH) will likely be postponed until May due to ongoing audits of Lido V2 codes.
• The Ethereum Goerli upgrade was triggered on the Goerli testnet and the Shapella (Shanghai and Capella) capabilities are being tested on the Zhejiang testnet.
• By the end of April, all five audits pertaining to on-chain codes will be finished and mainnet withdrawals expected in mid May.
Lido Finance Postpones Staked ETH Withdrawal
On Wednesday, Lido Finance, one of the biggest Ethereum liquid staking platforms announced that withdrawals of Lido-staked ETH (stETH) will likely be postponed until May due to pending audits of Lido V2 codes.
Goerli Testnet Upgrade
The Ethereum Goerli update was triggered on the Goerli testnet and contributions to the Lido DAO have begun testing Shapella (Shanghai and Capella) capabilities on the Zhejiang testnet. The time spent on audits has however slowed down preparations for the Goerli upgrade.
Auditing Prioritized Over Preparations
Prioritizing finishing all ongoing audits over helping Ethereum developers get ready for withdrawals ahead of Shanghai upgrade which is scheduled for early April, Lido has not been able to complete its update by its planned date pushing it back to next week. It is anticipated that node operators would take three to four weeks to deploy and verify validator exits in their networks.
Audits To Be Completed By End Of April
By the end of April, all five audits pertaining to on-chain codes will be finished making it quite likely that stETH withdrawal would occur on mainnet at this time. Mainnet withdrawals are expected in mid May after completion of all ongoing audits by then.
Audit Progress Update
As per a tweet released by Lido yesterday, only two out of seven V1 codebase audits are completed while five more are still underway before they can reach their milestones with respect to withdrawal process completion timeline.