LDO+stETH dual governance (a high level overview)

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" summary

Lido holds $15B TVL / $2B LDO and faces a small validator set and fragile governance, so the proposed dual model gives stETH holders a veto escrow that blocks any LDO-led change affecting stakers until resolution. Mechanically it uses a two‑phase alarm (a 5% alarm → 15% quorum escalation), allows counter‑votes against vetoes, and can push the DAO into a default veto state where no critical action executes until requested withdrawals finish. Long‑term targets include Lido V2 staking router and permissioned validation.

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" chapters (10)

1. 0:00Start
2. 0:34Liquid staking 101
3. 1:07Where does Lido fall short today?
4. 3:01What is Dual Governance?
5. 3:43Dual Governance's main goal
6. 3:57What powers do LDO holders have today?
7. 5:08Dual Governance: key constraints
8. 5:31Key factor: stETH is highly liquid
9. 5:46Key factor: 30% of stETH is locked in protocols
10. 13:27Veto negotiation phase (key properties)