Lido approves the V3 design and implementation proposal

What happened

Lido tokenholders approved advancing the V3 architecture, including stVaults, phased minting caps, reserve requirements, rate limits, and pause controls.

What changed

The DAO authorized contributors to finalize audits and testing and prepare an on-chain mainnet execution vote for a major new staking-vault architecture.

What did not change

V3 was not executed on mainnet by this vote; the existing Core Pool path remained unchanged and available.

Confirmed

• The Snapshot vote closed on September 29, 2025 with support and no recorded opposing voting power.
• The approved design introduces opt-in stVaults while retaining the existing Core Pool path.
• The design proposed phased stVault minting caps and additional reserve, rate-limit, and pause controls.
• A separate on-chain vote remained necessary for mainnet execution.

Still open

• Final audit findings and audit-driven code changes were not yet known.
• The final deployment payload, execution date, and live vault parameters remained pending.
• The practical cross-impact of stVault slashing or bad debt on stETH holders required further diligence.

What it means for an advisor

• Review the Lido memo's control, slashing, reserve, pause, and withdrawal analysis before any mainnet execution.
• Track the eventual on-chain payload and confirm whether Core Pool users inherit any stVault loss or liquidity path.
• Do not treat design approval or completed audits as evidence that V3 is safe or operative.