The dual governance proposed in @hasufl '22 is finally about to be implemented.
stETH holders can express their willingness to exit the protocol by depositing stETH, wstETH, and stETH into a specific escrow contract. Once the locked amount exceeds a certain threshold, the Ragequit mechanism will be triggered.
Lido will directly suspend the execution of any governance proposals until all stETH in escrow has been redeemed as ETH.
This mechanism design ensures the "creditor's rights > equity" at a superficial level and to a certain extent, which can effectively prevent the problem that arose in the @save_finance of the year - large coin holders use their own equity/governance rights to attack the reasonable rights and interests of large TVL investors in extreme cases.
Dual Governance: Coming Soon
Years in the making, Lido DAO contributors are proud to present an outline for the upcoming release of Dual Governance featuring design & code choices, parameters, deployment & rollout.
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