Lido Consolidates $16B in Staked ETH into Larger Validators

Lido, a prominent Ethereum staking platform, has initiated a significant migration of its users' funds. The move involves consolidating approximately $16 billion in staked ETH into larger validators through its Curated Module v2.

The consolidation allows Lido to reduce the number of validators it operates without withdrawing and restaking the underlying ETH. This change is expected to lower operational overhead and decrease the number of attestation messages processed by the Ethereum network.

The migration will move ETH from legacy validators capped at 32 ETH into new 0x02 validators that can each hold up to 2,048 ETH. The rollout of Curated Module v2 enables this functionality through Ethereum's Pectra upgrade and is supported by Lido's new balance-based accounting system.

The migration is constrained by Ethereum's consolidation queue and could take at least 117 days under ideal conditions. Lido previously stated that the broader migration would occur in phases and may continue into the first quarter of 2027.