@lucymr

Here’s a crazy stat: over $18B+ in liquid staking assets are controlled by just a few protocols—Lido, Rocket Pool, Binance, Coinbase. Ethereum was supposed to decentralize trust, but now most staked ETH is controlled by a handful of operators. If Lido hits 40–50% of staked ETH, Ethereum’s governance risk becomes very real. We’re one governance drama away from a systemic failure. So the question becomes: should Ethereum intervene? Or is “code is law” still the rule even if it leads to oligopoly?

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