Lido plans to migrate $16.5 billion of pledged ETH to a new validator architecture

According to CoinDesk, Lido announced the integration of over 8 million pledged ETH (worth approximately $16.5 billion) into the new validator architecture, expected to reduce the number of Ethereum validators by about one-third. This upgrade will migrate the node operator to Curated Module v2 and require the operator to provide ETH deposit. Isidoros Passadis, the head of staking at Lido Labs Foundation, stated that this is the biggest change in the staking mechanism of Lido Core since Lido V2. Lido currently has 34 operators planning to transition to Cured Module v2, and the migration is expected to reduce the annualized pledge yield by approximately 0.28%.