What Is Lido On Kusama (stKSM) ?
Lido On Kusama KSM Liquid Staking Protocol, built on the Kusama chain, allows their users to earn staking rewards on the Kusama chain without locking KSM or maintaining staking infrastructure. Users can deposit KSM to the Lido smart contract and receive stKSM tokens in return.
Lido On Kusama The smart contract then stakes tokens with the DAO-picked node operators. Users’ deposited funds are pooled by the Lido smart contract, and node operators never have direct access to users’ assets. Unlike KSM staked directly on the Kusama network, the stKSM token is free from the limitations associated with the lack of liquidity and can be transferred at any time. The stKSM token balance corresponds to the amount of the Kusama chain KSM that a holder can withdraw.
Lido On Kusama (stKSM) Storage Key Points
|Coin Name||Lido On Kusama|
|Circulating Supply||18,655.00 stKSM|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Lido On Kusama Lido DAO is a Decentralized Autonomous Organization that manages the liquid staking protocol by deciding on key parameters (e.g., setting fees, assigning node operators and oracles, etc.) through the voting power of governance token (DPG) holders. Also, the DAO will accumulate service fees and spend them on insurance, research, development, and protocol upgrades. Initial DAO members will take part in the threshold signature for Ethereum 2.0 by making BLS threshold signatures. Since Withdrawals Manager Stub contract has been deployed, new validators withdrawal credentials point to Withdrawals Manager Stub contract controlled by Lido DAO. Validators before that deployment have withdrawal credentials pointing to mulsig wallet.
Superuser privileges, accounts, and roles
Lido On Kusama StETH token is the upgradable contract behind AppProxyUpgradeable proxy at https://etherscan.io/address/0xae7ab96520de3a18e5e111b5eaab095312d7fe84. Lido DAO can change the implementation with the successful DAO vote.
StETH can be stopped by the DAO vote. No operations changing stETH balances can be performed on the stopped contract:
- No mints or burns can be performed. Note that StETH contract can mint stETH only in two cases: user deposits (tokens are minted to the depositor’s address) or fee distribution (where tokens are minted in accordance to fee calculations to the addresses set in the contract — namely the DAO treasury, the insurance fund and the Node Operator’s reward addresses);
- Users can’t submit their ETH to the Lido;
- Oracle can’t push updates on the ETH2 staking state;
- No ETH buffered in Lido can be sent to the ETH2 deposit contract;
- Staking withdrawals (once available) can’t be performed.
Superuser Privileges Decentralization
Lido On Kusama superuser privileges are managed by the Lido DAO’s governance system. To enact any change the DAO has to have a successful vote. Oracles are: 1) limited in impact 2) distributed – there are five of them, all top-tier professional node operators.
Superuser Actions Thresholds
Lido On Kusama The “superuser actions” with the StETH token are performed via DAO votes. The votes are managed by the Aragon voting. Voting power is proportional to the addresses’ LDO token balance (https://etherscan.io/token/0x5a98fcbea516cf06857215779fd812ca3bef1b32). For the voting to pass successfully, it should: 1) get at least 5% of the total LDOs to be cast “for” the vote; 2) get at least 50% of votes cast “for” the vote. The voting duration is 72 hours.
Superuser keys Management
Lido On Kusama Token management roles belong to smart contracts, and any changes in roles must pass through the successful DAO vote. Oracle operators are: Stakefish, Certus One, Chorus One, Staking Facilities, P2P Validator.
Superuser keys generation Procedure
Lido On Kusama There was no special keygen ceremony, as the permissions are managed by smart contracts. The votes can be cast by the EOAs and smart contracts with the voting power proportional to the addresses’ LDO balance.
Bug Bounties with Immunefi
Lido On Kusama This bug bounty document verifies that Lido hosts a bug bounty on Immunefi at the address https://immunefi.com/bounty/lido/. If you have found a vulnerability in project, it must be submitted through platform. will handle bug bounty communications. See the bounty page at for more details on accepted vulnerabilities, payout amounts, and rules of participation. Users who violate the rules of participation will not receive bug bounty payouts and may be temporarily suspended or banned from the bug bounty program.