Following a successful vote, Lido DAO gave the green light to activate the Community Staking Module (CSM) on the ethereum Mainnet.
As the first feature of the Lido Protocol to enable open access, CSM aims to allow a wider range of participants to operate ethereum validators, even with minimal technical experience and less than 32 eth.
Drive decentralization
According to the official press release shared with cryptopotatoCSM will initially be rolled out to early adopter participants, but there are plans to make it permissionless soon.
The CSM aims to address several aspects of ethereum's individual staking landscape by allowing users to participate with smaller eth deposits. The initial bonus requirement is set at 2.4 eth (or 1.5 eth for those approved for early adoption) for the first validator, and is reduced to 1.3 eth for each additional validator.
Early adopters, selected based on a community-led evaluation of potential individual participants, can begin using CSM to run validators before it opens to everyone.
Lido protocol contributor and CSM technical lead Dmitry Gusakov said the new CSM model will allow more people to contribute to the security and decentralization of ethereum, creating a healthier and more resilient network.
“We want to break down barriers, making it possible for anyone, regardless of their financial circumstances or technical experience, to help protect ethereum. “Beyond technology, we also support the thriving global solo gaming community through the Community Lifesaving Initiative to ensure everyone has the resources and knowledge they need to succeed.”
CSM Testnet Success
According to Lido, the CSM aligns with ethereum co-founder Vitalik Buterin's vision of empowering individual participants to strengthen the network's resilience. By allowing more independent participants to join, CSM helps reduce the concentration of validation control in the hands of a few large, authoritative entities. This greater diversity among operators is expected to boost “ethereum’s security, resilience, and censorship resistance.”
As of July 1, 2024, the CSM testnet has been active on ethereum's Holesky testnet and continues to be available. During this period of more than three months, around 370 node operators participated, with 70 individual participants joining in just the first 10 days.
Binance Free $600 (CryptoPotato Exclusive) – Use this link to register a new account and receive an exclusive welcome offer of $600 on Binance (full details).
LIMITED OFFER 2024 on BYDFi Exchange: Welcome reward up to $2,888, use this link to register and open a position of 100 USDT-M for free!
<!– ai CONTENT END 1 –>