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b'Hasu, strategic advisor to Lido, and Tarun Chitra, founder of Gauntlet, explain everything about staked ETH, aka stETH, how it should be priced, Lido\\u2019s market dominance, and much more. Show highlights:\\n\\nthe role of Lido, what stETH is, and what its benefits are\\n\\nwhether Ethereum\\u2019s lack of delegated proof of stake contributes to the need for stETH\\n\\nwhy stETH is not mispriced and why it doesn\\u2019t necessarily have to be worth 1 ETH\\n\\nthe inherent risks associated with stETH\\n\\nhow there was not enough liquidity to handle all the liquidations, especially in automated vaults on, for instance, Instadapp\\xa0\\n\\nhow automated market makers work and what Curve\\u2019s amplification factor is\\n\\nwhether 3AC and Celsius had a significant impact on the stETH/ETH \\u201cde-peg\\u201d\\n\\nhow does the Merge affect the liquidity of stETH\\n\\nHasu\\u2019s and Tarun\\u2019s level of confidence that the Merge will happen this year and whether it will be a success\\n\\nwhat will happen to the price of stETH after the redemptions are enabled\\n\\nwhy Lido has achieved such a level of dominance\\n\\nhow Lido decreases the cost of staking and helps improve the security of the Ethereum blockchain\\n\\nwhether there is going to be a \\u201cwinner take all\\u201d in the liquid staking derivatives market\\n\\nhow liquidity fragmentation can cause the system to blow up\\n\\nwhy LDO tokenholders might not have the same incentives as ETH tokenholders\\n\\nwhat is Lido\\u2019s new dual governance model and what is it trying to achieve\\n\\nwhether Lido should self limit its market dominance\\n\\nhow Lido coordinates validators and the role of the LDO token in this coordination\\n\\nwhat are the lessons to be learned from the stETH situation\\n\\nhow governance is a liability to DeFi protocols\\n\\n\\xa0\\nThank you to our sponsors!\\n\\xa0\\nCrypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\\nAva Labs: https://www.avax.network/\\nOasis:\\xa0https://oasisprotocol.org/grant-programs?utm_source=unchained&utm_medium=partnership&utm_campaign=podcast-oasis-grants-program\\n\\xa0\\nEPISODE LINKS\\n\\xa0\\nHasu:\\xa0\\n\\nTwitter: https://twitter.com/hasufl\\n\\n\\nUncommon Core Podcast: http://uncommoncore.co/podcast/\\n\\n\\nTarun:\\xa0\\nTwitter: https://twitter.com/tarunchitra\\n\\n\\xa0\\nstETH\\n\\xa0\\n\\nLido\\u2019s explanation: https://twitter.com/LidoFinance/status/1535184472546889735?s=20&t=oQeB1uj7HG7Y4he-0gbcLg\\n\\n\\nLido\\u2019s explanation #2: https://twitter.com/LidoFinance/status/1536756933054676992?s=20&t=oQeB1uj7HG7Y4he-0gbcLg\\n\\n\\nHasu\\u2019s thread #1: https://twitter.com/hasufl/status/1524717773959700481?s=20&t=oQeB1uj7HG7Y4he-0gbcLg\\n\\n\\nHasu\\u2019s thread #2: https://twitter.com/hasufl/status/1525427069198508033?s=20&t=oQeB1uj7HG7Y4he-0gbcLg\\n\\n\\nTarun\\u2019s take: https://twitter.com/tarunchitra/status/1538775828573609985?s=20&t=oQeB1uj7HG7Y4he-0gbcLg\\n\\n\\nTarun\\u2019s paper: Why Stake when you can borrow: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3629988\\n\\n\\n\\xa0\\nLido\\n\\nSelf-limit?: https://twitter.com/LidoFinance/status/1540258690942615555?s=20&t=sJU5C5xo5litEJrZZDaWNQ\\n\\n\\nHasu on Lido\\u2019s dual governance proposal: https://twitter.com/hasufl/status/1540652075352313857?s=20&t=sJU5C5xo5litEJrZZDaWNQ\\n\\n\\nLido\\u2019s two phase voting scheme :https://blog.lido.fi/moving-to-two-phase-voting/\\n\\n\\nPrevious Unchained Coverage on DAO governance: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?: https://unchainedpodcast.com/solend-and-bancor-drama-did-these-daos-violate-the-ethos-of-crypto-ep-366/\\n\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'