- The withdrawals on Lido were processed using the ETH buffer, which still had a 37.4k supply available.
- Lido’s TVL managed to climb by 10% in the last month.
Lido Finance [LDO], the largest liquid staking protocol, processed nearly 98% of the withdrawal requests in a week’s time since the launch of its version 2. The launch enabled users to withdraw their Staked ETH [stETH] to Ethereum [ETH] at a 1:1 ratio.
As noted by research analyst Tom Wan, the withdrawals were processed using Lido’s ETH buffer. This means a supply of 37.4k was still available. This also meant that the remaining withdrawal amount was about 6.6k.
It could also be furnished without Lido having to exit any of the validators from the network.
You have to admit the buffer from @LidoFinance is quite smart
They have processed 446k $ETH withdrawals without exiting a single validator.
By stacking up daily deposits (0 ETH Staked from 13-17 May), partial withdrawals+execution layer reward, they had 450k+ ETH Buffer pic.twitter.com/nSe1P7LkjW
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