Lido DAO Launches ‘Community Staking Module’

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Table of Content

In today edition we talk about

• Polymarket CEO Affirms Platform’s Neutrality Amid Election Buzz, Highlights Value of Alternative Data

• Assange’s Release: A Costly Battle Backed by Millions and Crypto Advocates — Highlights from Lugano’s Plan B Forum

• Bloomberg Analyst: SOL, XRP ETF Filings Signal Hope for Pro-Crypto Policies in Potential Trump Win

• Lido DAO Launches ‘Community Staking Module’ to Broaden Access to Ethereum Solo Staking

Polymarket CEO Affirms Platform’s Neutrality Amid Election Buzz, Highlights Value of Alternative Data

Polymarket CEO Shayne Coplan emphasized the platform’s non-partisan stance, responding to a recent New York Times article that labeled Polymarket a “crypto-powered gambling website” showing Donald Trump with a 64% chance of winning the 2024 presidential election. Coplan clarified that Polymarket’s focus is on market-based forecasting rather than political endorsement, explaining that the platform provides alternative data that allows the public to capitalize on differing opinions in the market.

“We’re not aligned with any political side,” Coplan stated on X. “We just believe prediction markets offer an important data source.” He also noted the large $45 million bet by a French national on Trump’s odds, which Polymarket found reflected individual views, dismissing concerns about market manipulation.

Coplan addressed speculation about billionaire Peter Thiel’s influence, saying Thiel has “no control” over Polymarket despite his fund's investment, reinforcing that the platform operates independently. As the U.S. election nears, Polymarket has seen a surge in activity, with cumulative monthly trading volume for October reaching $3.69 billion.

Assange’s Release: A Costly Battle Backed by Millions and Crypto Advocates — Highlights from Lugano’s Plan B Forum

At the Plan B Forum in Lugano, Switzerland, Julian Assange’s family shared insights into the costly fight to prevent his extradition to the U.S. and secure his freedom. Assange, the WikiLeaks founder arrested in 2019 after seven years in the Ecuadorian embassy, relied on global support that included over $30 million raised through donations and efforts from groups like AssangeDAO, a decentralized organization with 10,000 members.

Assange’s brother, Gabriel Shipton, revealed that crypto donations played a crucial role, especially a $520,000 private plane charter needed to return Assange to Australia after his release. Bitcoin supporters stepped in, covering costs through contributions, including a donation of over eight Bitcoin. Since WikiLeaks lost access to traditional financial services after a U.S. order in 2010, cryptocurrency has remained a vital financial lifeline for Assange and the organization.

Bloomberg Analyst: SOL, XRP ETF Filings Signal Hope for Pro-Crypto Policies in Potential Trump Win

As the U.S. election approaches, issuers are filing for Solana (SOL) and XRP ETFs, which Bloomberg analyst Eric Balchunas describes as “call options on a Trump victory.” Speaking at the Plan B Forum, Balchunas noted that a Trump win could lead to a more crypto-friendly SEC, contrasting with the current administration’s regulatory stance.

The ETF landscape has grown significantly in 2024, especially for crypto assets, with Bitcoin and Ether ETFs paving the way. Recently, Cboe, Bitwise, and Canary Capital have all submitted filings for SOL and XRP ETFs. Trump has stated he wants to make the U.S. “the crypto capital of the world,” pledging to remove current SEC Chair Gary Gensler if elected. In contrast, Democratic candidate Kamala Harris has taken a more reserved stance on crypto regulation, though she is seen as friendlier to crypto than President Biden.

Crypto ETFs have been among the top launches this year, with Bitcoin leading the way.

Lido DAO Launches ‘Community Staking Module’ to Broaden Access to Ethereum Solo Staking

Lido DAO has voted to activate the "community staking module" (CSM), aiming to make Ethereum staking more accessible by reducing technical and financial hurdles. Lido’s CSM, initially available to early adopters, including Gnosis solo stakers and Obol Techne credential holders, will soon enable anyone with 1.5 ETH ($3,800) to become a node operator. This lowers the barrier from the standard 32 ETH ($81,000) typically required to run an Ethereum node.

The CSM is designed to support decentralized solo staking, a model endorsed by Ethereum co-creator Vitalik Buterin as key to maintaining the network’s decentralization and resistance to censorship. Lido, a leading liquid staking provider, has faced criticism for its market share concentration, which some argue centralizes power on Ethereum. This new module moves Lido closer to a permissionless, community-driven model, and Lido DAO approved it with strong support, voting over 60 million LDO tokens in favor.

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