The Lido DAO’s main-phase vote on Curated Module v2 (CMv2) and Community Staking Module v3 (CSMv3) is set to conclude today at 14:07 UTC. The on-chain vote, proposal #203, bundles Lido Improvement Proposals LIP-33 and LIP-35, which will reshape how the protocol allocates roughly 9 million ETH in deposits across curated operators, permissionless community stakers, and distributed validator clusters. The governance event arrives as LDO, Lido’s native token, has climbed approximately 23% over the past week, from around $0.305 to $0.378.
The two staking modules are rebuilt on the new Staking Router v3 framework, a response to Ethereum’s Pectra upgrade that raised the maximum effective balance per validator to 2,048 ETH. Staking Router v3 introduces a shared routing layer that can consolidate existing stake into larger validators and move deposits between modules without requiring withdrawals and fresh deposits, reducing gas costs and operational overhead.
Alongside the main vote, two Snapshot proposals remain open until July 20: a CMv2 penalty framework and a design for 0x02 validators in the CSM. The penalty framework will introduce bonding requirements for operators, assessing incidents such as operational failures on a case-by-case basis rather than applying fixed penalties. This mechanism is seen as a core de-risking tool, as operators will lose locked assets for non-compliance rather than merely reputation.
Stake movements over the past 91 days show a clear shift toward the Community Staking Module, which gained 99,232 ETH to reach 747,744 ETH, while the Simple DVT Module shrank by a similar 92,160 ETH as older clusters wind down. The Curated Module, still holding roughly 89% of Lido’s total value locked, remained relatively flat at 8,121,888 ETH. Lido’s July revenue stood at $17.55 million, with most passed through to stakers and operators, leaving a gross profit of $1.09 million.
On the 30-minute chart, LDO bounced from an oversold $0.298 level to an overbought reading near 78 RSI before consolidating above $0.37. The 20-period and 50-period moving averages now sit just below the current price, signaling a short-term uptrend. Support is seen at $0.33, with a deeper floor at $0.298. For stETH holders, no action is required; rewards continue accruing during the migration, expected to take four and a half to six months with a projected network-wide reward loss of about 738.5 ETH. Operators face a September checkpoint when bonding requirements under CMv2 will be tested in practice.
