🎙 Hasu: Lido's Staked ETH Poses No Systemic Risk to DeFi
This week on The Defiant Podcast we speak with Hasu, strategic advisor at Lido, strategy lead at Flashbots, MakerDAO delegate, researcher at Paradigm and host of the Uncommon Core Podcast. That’s a lot of titles and it goes to show just how deeply plugged into DeFi and crypto this anon researcher is. In this episode, we’ll focus on Lido, as it’s become a crucial piece of infrastructure for Ethereum.
Lido currently has the highest share of deposits in Ethereum’s proof-of-stake chain, at 32%, significantly larger than any other party. This is a growing concern in terms of security and it’s prompted an ongoing discussion on the protocol’s governance forum. Hasu talks about how big a risk this is, and what checks and balances can be introduced. Also, in the past few weeks, staked ETH has started trading below ETH. Hasu discusses what the potential outcomes of this are, and how investors can take advantage of this situation.
Lastly, this last cycle has prompted a lot of experimentation around DAOs and governance, with much room for improvement. Speaking from his own experience with Lido and Maker, Hasu discusses his key learnings and provides his take on how DAOs can become a truly better model for organizing businesses.
Podcast audio and video was edited by Daniel Flynn and Alp Gasimov. Transcript was edited by Samuel Haig.
🎙Listen to the interview in this week’s podcast episode here:
🙏 Thanking our podcast sponsors:
dYdX has launched a Grants program with funding allocated to open-source builders. Come help build the future of decentralized trading at dydxgrants.com
Nexo’s fundamentals-first model helps you secure your assets and grow your wealth. The company now provides an increased insurance on custodial assets of $775 million. Learn More!
Avalanche Subnets allow anyone build custom, app-specific blockchains - the future of Web3 scaling.
APWine - get your future yield today, speculate on APY evolution or fix APY rates. Discover the latest yield tokenization trend in Web3 with 'APwine'
👀 Only paid subscribers have access to the full interview transcript below.
Keep reading with a 7-day free trial
Subscribe to WE'VE MOVED TO thedefiant.io to keep reading this post and get 7 days of free access to the full post archives.