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Decoding the state of Lido Finance’s node and validator operators

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Lido Finance just released its latest quarterly report revealing the state of node operators. The timely nature of the report may offer some insights into how Lido has been preparing for the aftermath of the Ethereum Shanghai upgrade.Realistic or not, here’s Lido’s market cap in BTC’s termsAccording to Lido’s quarterly report, the number of active node operators grew from 27 in Q3 to 29 in Q4.

This was a minor change but validators have also been working towards more network diversification and performance improvements.A good example to highlight this focus is that there were at least 1,000 validators on chainsafe ETH’s Lodestar.

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