Staked $ETH Withdrawals through Lido Need to Wait Until Early May

Investors who have staked their ether ($ETH) through Lido, the dominant liquid staking platform, will have to wait until early May to withdraw their funds, according to a Lido protocol developer known as Kadmil.eth.

The delay is due to the need for Lido to properly prepare the launch of its V2 test network and complete several security audits of its V2 upgrade. While Shapella, a software upgrade that will enable ether withdrawals, is set to occur on April 12, the preparation of Lido’s V2 testnet and completion of its multiple security audits won't be ready by then.

LidoDAO community members had previously voted for the software overhaul in early March. The V2 upgrade is the "biggest upgrade" for Lido on Ethereum, where more than 5.9 million ETH have been staked, and will enable $ETH withdrawals on the liquid-staking platform.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.