Lido receives a massive sum of ARB from Arbitrum. Withdrawal credential rotation gets completed on the protocol as activity rise.
, the Arbitrum Foundation is incentivizing participation in DAO-based governance on its platform by distributing ARB tokens to protocols that have contributed to the growth of the network.
Arbitrum Foundation is distributing ARB tokens to protocols that have played a part in the growth of the protocol in order to encourage DAO-based governance participation across Arbitrum.Lido DAO is hence qualified to receive 772,621 ARB tokens as the protocol showed support to Arbitrum in the past. These tokens amount to $1.29 million. The funds can help Lido improve upon different aspects of its protocol.
A proposal was put forward by Lido for the utilization of the tokens towards the continued growth of staking and the wstETH DeFi ecosystem on Arbitrum One. The aim is to initiate ARB token emissions that would incentivize liquidity pools and wstETH users across the Arbitrum network.Following a successful withdrawal credential rotation message signing ceremony, all messages required to finalize the Ethereum withdrawal process were processed by the network.
After a successful withdrawal credential rotation message signing ceremony, completed April 5th, all messages have now been processed by the network, finalising the rotation 🎉
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