An ETH staking migration at the $16.5 billion scale is underway, as Lido plans to cut one-third of validators.

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Odaily Planet Daily reports that Lido has kicked off its largest upgrade since V2 in 2023, moving more than 8 million stETH to a new validator architecture on Ethereum Pectra, with a scale of about $16.5 billion. The migration is expected to reduce the total number of validators by about one-third, and reduce the number of attestation messages per epoch by about 29% to lower consensus-layer load, without directly affecting gas fees and transaction speed. This upgrade will move the existing 34 professional node operators to Curated Module v2, and for the first time requires them to provide ETH stake collateral, taking economic responsibility for node performance and security with their own funds. Lido expects this migration to cause a slight overall decrease in the protocol’s annualized staking returns of about 0.28%.
ETH-3.80%
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