The dual governance proposed by @hasufl in 2022 is finally going to be implemented.
stETH holders can deposit stETH, wstETH, and stETH into specific custody contracts to express their intention to exit the protocol. Once the locked amount exceeds a certain threshold, the Ragequit mechanism will be triggered.
Lido will directly suspend the execution of any governance proposals until all stETH in custody is redeemed for ETH.
This mechanism design, on a superficial level, somewhat ensures "creditor > equity," effectively preventing the issue that occurred in the past with @save_finance—where large token holders could use their equity/governance rights to attack the reasonable rights of TVL holders in extreme situations.
Dual Governance: Coming Soon
Years 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.
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