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Lido just rolled out one of the most ambitious governance overhauls in DeFi: a dual governance system designed to give power back to stakers—and make it harder for malicious proposals to pass.

But what does it actually do?

And could it make Lido the safest place to stake ETH?

Hasu, a strategic advisor at Lido, and Lido co-founder Vasiliy Shapovalov join Unchained to break it all down.

• How the dual governance model works

• Whether this dilutes LDO token value

• What this means for DeFi, and if others will follow

• Whether this might get institutions off the sidelines

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

• Bitwise

  Guests:

• Hasu, Strategic advisor to Lido and Strategy lead at Flashbots.

• Vasiliy Shapovalov, Co-founder of Lido

• Unchained: Lido DAO Enables Dual Governance, stETH Holders Can Trigger ‘Rage-Quit’ Mode

• Learn more about the topics discussed:

• How Liquid Staking Works

• What Are Externally Owned Accounts (EOAs) in Ethereum?

• What Is Multi-Party Computation (MPC) and How Does It Work on Blockchains?

• What Is Distributed Validator Technology?

Timestamps:

🎬 0:00 Intro

🧩 2:07 What problem Lido’s new governance model is actually solving

⚙️ 7:33 How dual governance works—and why it’s such a big shift

🚀 15:32 Why Hasu says this changes everything for Lido

🧠 22:20 What the team had to weigh when designing the system

🛡️ 30:26 How Lido built in resistance to attacks

📉 32:02 Whether this system weakens the value of the LDO token

🗳️ 38:58 How they’re thinking about fixing DeFi’s voter apathy problem

🏦 45:29 Whether institutions will see this as a positive sign and embrace stETH

🌐 48:01 How this compares to Sky’s “emergency shutdown”—and whether DeFi will follow suit

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