Lido approves Staking Router v3 architecture

What happened

Lido DAO approved the architecture and key parameters for Staking Router v3.

What changed

The approved design replaces validator-count accounting with balance-based accounting, supports validators up to 2,048 ETH, adds governed consolidation-based module migration, updates exit oracles, and reserves configurable buffered ETH for consensus-layer deposits.

What did not change

Snapshot approval did not deploy SRv3, execute module migrations, or establish that stETH withdrawal mechanics changed on-chain.

Confirmed

• The vote closed on June 22 with overwhelming support.
• SRv3 is the foundation for the separately proposed CMv2 and CSMv3 modules.
• The design includes balance-aware deposits, top-ups, accounting, and exit-oracle behavior.
• The initial consolidation pipeline is scoped to migration from Curated Module v1 to v2.

Still open

• Deployment timing, final audited code, and actual migration execution are not established by this record.
• The final governance-configured buffered-ETH reservation and operational limits remain to be verified on-chain.

What it means for an advisor

• Reopen Lido architecture diligence before execution because accounting, exits, stake allocation, and module-migration controls all change.
• Verify that the withdrawal path and liquidity buffer behavior remain compatible with the memo's withdrawal-related kill criteria.
• Track audit completion, deployed bytecode, migration safeguards, and live parameter values.