Ethereum

2024

Lido DAO

Renzo

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<p class="is-style-lead"><a href="https://crypto.news/tag/lido/" rel="">Lido </a>DAO (LDO) has seen its token price&nbsp;surge following the release of its Validator and Node Operator Metrics (VaNOM) report for Q1 2024.</p> 
<p>At the time of writing, LDO was trading at $2.35, reflecting a 10% rise over the past 24 hours.&nbsp;The market cap of LDO&nbsp;exceeded $2 billion, and the 24-hour trading volume reached $474 million, marking a 148% increase.</p> 
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<p>The VaNOM report, published on May 23, highlighted a shift in client diversity, especially at the execution level. The usage rate of the client Geth dropped to 46%, a significant decline from 96% in 2022 and 67% in the fourth quarter of 2023.</p> 
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   <p lang="en" dir="ltr">Lido Validator &amp; Node Operator Metrics: Q1 2024 📊<br><br>Check the full report below or read on for a breakdown of key developments.<a href="https://t.co/bHDACmCFWR" target="_blank" rel="">https://t.co/bHDACmCFWR</a><br><br>TLDR:<br>– Use of supermajority client (Geth) falls to 46% from 67% in Q4'23.<br>– Public cloud usage across validators has… <a href="https://t.co/qjIoVlOArL" target="_blank" rel="">pic.twitter.com/qjIoVlOArL</a></p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1793567652733984902?ref_src=twsrc%5Etfw" target="_blank" rel="">May 23, 2024</a>
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<p>Additionally, the report indicated a reduction in the use of public clouds, falling from 46% to 40%. These changes suggest a diversification in technology and a move away from reliance on specific platforms like <a href="https://crypto.news/tag/geth/" rel="">Geth </a>and public clouds.</p> 
<p>The report did not specify the reasons for these changes.</p> 
<p>Earlier on May 21, LDO’s price surged by 40% after Lido DAO effectively managed a security breach involving Numic.&nbsp;The breach, identified on May 14, involved unauthorized access to a developer machine used by Numic, a Node Operator collaborating with Lido on the Ethereum protocol.</p> 
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   <p lang="en" dir="ltr">On May 14th, Lido DAO contributors were made aware of a security breach that affected an active Node Operator using the Lido on Ethereum protocol (Numic). <br><br>The incident has been resolved and has not resulted in validator operations being affected or any loss of funds (which only…</p>— Lido (@LidoFinance) <a href="https://twitter.com/LidoFinance/status/1792872472708059511?ref_src=twsrc%5Etfw" target="_blank" rel="">May 21, 2024</a>
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<p> You might also like: <a href="https://crypto.news/ethereum-exit-lido-ether-fi-renzo/" rel=""> Ethereum stakers exit Lido for Ether.fi, Renzo </a> </p> 
<p>Despite concerns about potential compromise of the mainnet validators’ encrypted&nbsp;key&nbsp;material backups, there was no evidence of tampering or malicious use.</p> 
<p>Numic responded promptly by setting all depositable keys to zero and systematically removing any potentially compromised keys. The action prevented new deposits from being directed to validators that might have&nbsp;been compromised.</p> 
<p>Lido DAO contributors&nbsp;played a crucial role&nbsp;in assisting Numic with a thorough investigation of the breach.&nbsp;The&nbsp;precautionary&nbsp;measures were successfully implemented&nbsp;without disrupting validator operations, and the incident did not result in&nbsp;any&nbsp;financial losses.</p> 
<p> Read more: <a href="https://crypto.news/lido-faces-35k-penalty-as-20-validators-violate-ethereums-rules/" rel=""> Lido faces $35k penalty as 20 validators violate Ethereum’s rules </a> </p>

Lido DAO (LDO) jumps 10% following Q1 metrics report

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