LDO price jumps 10% as Lido community approves staking module v2 upgrade

The cryptocurrency market signals key shifts as altcoins gain momentum while Bitcoin stays range-bound.

Lido’s native token is among the alts leading the recovery.

LDO has gained 10% in the past day as the governance vote for the CSM (Community Staking Module) v2 ends today with unanimous support.

The 100% backing indicates excitement around this crucial upgrade, which promises improved efficiency, validator performance, and decentralisation.

Lido has established itself as a cornerstone of ETH staking, and the latest proposal represents a key step in making the LDO blockchain more resilient and community-driven.

With more than 52.3 million voters favouring the proposal (without meaningful opposition), the Lido community is excited about the impending CSM v2 upgrade.

The voting window closes today, setting the stage for one of the most community-driven upgrades.

The proposal opens the path for increased decentralised staking.

It empowers independent validators and community-centric governance to boost staking across the Lido brand.

Let’s understand the CSM v2 and how it might shape Lido’s network in the coming times.

Lido’s CSM v2 upgrade

The Community Staking Module v2 upgrade aims to transform the existing CSM by making it more secure, inclusive, and flexible.

According to the blog:

This proposal seeks Lido DAO approval for the final rollout of CSM v2, including the release plan, finalized key parameters, Community Stakers’ Identification Framework, an adjustment of the stake share limit, and operational funding for the CSM Committee to process reimbursements.

The upgraded version supports EIP-7002 to enrich validator withdrawal mechanics.

Also, it leverages an improved Performance Oracle to strengthen tracking while introducing advanced node operator types.

Notably, the latest proposal follows a previously authorised architecture and highlights comprehensive rollout plans, operator identification, and funding allocations frameworks.

The CSM version 2 will feature three node operator types once live.

Firstly, the permissionless operators would be open to individuals who met basic technical requirements.

The legacy early adopters include existing CSM members migrating into V2.

Meanwhile, the Identified Community Stakers comprise verified Ethereum staking community members who enjoy favourable terms and priority access.

Notably, the new structure guarantees a streamlined transition from the existing CSM while laying the foundation for an open and community-centric staking.

LDO price outlook

The native token exhibited a bullish stance in the past day amid anticipation of the CSM v2 governance decision.

LDO gained 9.8% from yesterday’s $1.0779 to an intraday high of $1.1835 today.

The coin trades at $1.16 with a 65% increase in 24-hour trading volume, signalling magnified trader activity.

Chart by CoinMarketCapTechnical indicators support Lido’s bullish structure.

The 3H MACD signals a buyer resurgence in the past three days, while the Relative Strength Index suggests further gains before LDO nears overbought conditions.

A decisive closing above the $1.14 wall could support continued rallies to the psychological mark at $2.

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