- Lido’s development activity surges over the last quarter.
- The price of the token goes down, thanks to the declining activity on the protocol.
According to recent data provided by Electric Capital’s developer report, it was discovered that Lido’s ecosystem ranked very high in terms of development activity in the crypto space.
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The growth was measured by comparing the development activity of protocols from 2022 Q4 to 2023 Q1. The data suggested that the Lido protocol not only witnessed a spike in activity from full-time developers but also from part-time developers.
One of the contributing factors to the heightened level of development activity could be attributed to the introduction of Lido’s V2 protocol.
Notably, the V2 protocol is set to incorporate several new features, including GateSeal.
GateSeal is a contract used to pause other contracts for a specific period of time, with two important parameters: which contract(s) can be paused and which committee is responsible for the decision. It requires contracts that support time-limited pausing and expires within a year, motivating a long-term solution.
The use of GateSeal can have a positive impact on the Lido Protocol by enabling the community to quickly and effectively address unexpected emergencies while constraining the powers of the committee.
One of the more interesting parts of Lido V2 is GateSeal.
GateSeal is a one-time use contract which can be used by a committee to temporarily
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Author: Himalay Patel
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