PART 1 🧛 Vampires attack the Lido protocol

The Ethereum community has finally come up with an unusual way to combat Lido's monopolization in the staking market - a vampire attack.

Old people remember how the SushiSwap exchange used the same strategy to steal 70% of the liquidity from the Uniswap exchange in 2020.

History repeats itself. After 3 years, the Diva protocol is going to launch a vampire attack on the Lido protocol to reduce their dominance in the staking segment and increase the decentralization of ETH (Lido controls 32% of all staked ETH).

🦇 How will the vampire attack happen?

Let's look at it step by step:

• Lido users are offered to freeze their stETH on the Diva platform until the first quarter of 2024 (until the protocol launches)

• In return they will receive DIVA tokens depending on the time of staking and the amount of frozen stETH (5 months after the launch of the protocol)

• Also, all this time, stETH holders will receive interest from ETH staking as usual

• Upon launch of the Diva protocol (Q1 2024), stETH will be automatically converted into Diva's own liquid staking tokens

*part1* #LIDO