Key Highlights
- Lido is preparing a Hoodi testnet vote to roll back fork-specific contract changes after Ethereum developers postponed the Glamsterdam upgrade.
- The rollback follows the October 22 decision to delay the planned October 26 activation while developers investigate potential issues involving EIP-8037 and EIP-8038.
- Lido said the postponement does not affect its mainnet protocol, and stETH and wstETH holders do not need to take action.
Lido Finance, a decentralized liquid staking protocol, is preparing a vote on the Hoodi testnet to roll back fork-specific contract changes after Ethereum core developers postponed the Glamsterdam upgrade.
In an X post on October 23, Lido said the delay does not affect its mainnet Lido protocol and that holders of stETH or wstETH do not need to take any action. The postponement followed discussions during the All Core Developers Execution (ACDE) meeting #248, where developers agreed to investigate how EIP-8037 and EIP-8038 could interact with existing mainnet contracts.
Lido’s Hoodi contracts had already been upgraded ahead of the previously scheduled October 26 activation. Contributors are now preparing the rollback to keep the testnet operational while developers determine a revised upgrade date.
Lido DAO contributors are coordinating the process with Lido Node Operators and the broader Ethereum ecosystem. Node and validator operators on Hoodi were advised to check both their Execution Layer and Consensus Layer clients for updated instructions reflecting the postponed activation before October 26.
Why Ethereum delayed Glamsterdam upgrade
Ethereum developers postponed the Glamsterdam upgrade on the Hoodi testnet on October 22 after potential security concerns emerged around proposed changes to the network’s gas-accounting system. The upgrade had been scheduled for October 26, but developers have not announced a new activation date.
The postponement removes the planned Amsterdam execution-layer and Gloas consensus-layer activations from Hoodi’s configuration. It also cancels a scheduled increase in the testnet’s gas limit to 200 million.
The delay followed warnings from blockchain security firm ChainSecurity about potential vulnerabilities linked to EIP-8037 and EIP-8038. EIP-8037 proposes a separate gas reservoir for state creation, while EIP-8038 changes the gas costs of accessing and modifying blockchain state. Both proposals aim to align gas charges more closely with the resources smart contracts consume.
ChainSecurity said it had identified real-world examples of potential issues and was working with affected projects through responsible disclosure. The firm urged developers to review their contracts while the Ethereum Foundation assessed the impact.
Lido contributors have been screening EIP-8037 against Lido contracts since June. They reported finding no breaking impact on the protocol’s core contracts, an assessment that the draft was independently confirmed by ChainSecurity. The review continues alongside the broader investigation by Ethereum core developers.
LDO price movement
Lido DAO (LDO) traded at $0.3875, up 1.3% over the past 24 hours, according to CoinGecko data on October 23 at 19:15 UTC. Its price ranged from $0.3784 to $0.3934 during the period. Market capitalization stood at $321.6 million, with fully diluted valuation at $387.7 million.
Twenty-four-hour trading volume was $34.9 million. Total value locked in the Lido protocol was reported at $23.325 billion, while perpetuals open interest stood at $121.2 million. Circulating supply was 829.6 million tokens against a total and maximum supply of 1 billion.
The price rose during the middle of the 24-hour period before pulling back toward $0.39. The next developments for Lido’s Hoodi deployment will depend on the outcome of the EIP-8037 and EIP-8038 reviews and any revised activation schedule announced by Ethereum developers.
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