Lido stETH Withdrawals to Open ~1 Month After Shanghai

Lido announced a delay in their expected timeline for withdrawals and won’t be ready at the Shanghai hardfork. They’ve uncovered some findings from their 7 audits that have required attention. Due to the stakes at play, they are prioritizing safety and security over being ready for withdrawals day 1. For Shanghai implications, this means the partial withdrawals from Lido will not be withdraw-able and either held in a buffer account or re-looped into validators to increase stETH’s APR. Full withdrawals will of course not be available either.

If there is even a sliver of concern then it is 100% the right move to not rush, but it will be interesting to monitor stETH inflows and the stETH price (0.9965) to see if this delay has any material impact on either. It’s better to be completely safe than rush and risk a bug/exploit.

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