Lido's 0x02 CSM proposal is quite interesting, with a 2048 ETH cap directly targeting large capital players, while retail investors continue to play 0x01, clearly stratified.

Wu Shuo has learned that the Lido community has released the 0x02 CSM proposal. It plans to add a permissionless community staking module to the Lido protocol, enabling node operators to run validators using 0x02 withdrawal credentials. The maximum effective balance per validator can reach 2,048 ETH. If the proposal is approved, 0x02 CSM will run in parallel with the existing 0x01 CSM: the latter will continue to serve smaller operators and types such as ICS and IDVTC, while 0x02 CSM will target more capital-sufficient independent operators. The proposal parameters include an initial validator key bond of 32 ETH, subsequent keys of 30 ETH, and a reward split between node operators and the DAO of 2% / 8%, with a capital multiplier of up to approximately 2.26x. The combined maximum staking share limit for 0x01 CSM and 0x02 CSM is proposed to be set at 2