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A July 4 social media spat unraveled between cryptocurrency staking companies, Lido and Rocket Pool, when a Lido team member fired shots at their rival for its alleged centralized operation. Dmitri Gusakov, from Lido's community staking helm, raised serious allegations about Rocket Pool's contracts.
In his scathing exposé, Gusakov insinuated that Rocket Pool's structure granted excessive authority to its developers. He claimed they could manipulate crucial parameters, such as the inflation rate and fees, and have total control over these aspects. Gusakov juxtaposed this with Lido's decentralized autonomous organization, LidoDAO, asserting that it lacks such vulnerabilities.
In response, Waq, a management committee member at Rocket Pool, dismissed these accusations. He stated the centralization concern was already on their radar and hinted at an upcoming fix. The issue wasn't a revelation for them, Waq said, accusing Lido of attempting to claim unmerited credit.
Chris Blec, a renowned content creator, sided with Lido and argued that Rocket Pool's DAO (decentralized autonomous organization) wasn't truly autonomous. He suggested that RPL tokenholders did not possess the necessary control over the platform's governance.
A notable rebuttal came from Jasper.lens, a Rocket Pool community advocate. He confirmed the centralization problem and declared it would be remedied with the impending "Saturn" upgrade. According to Jasper, during the design and testing phase of Rocket Pool's DAO voting system, they consciously kept it centralized to avoid early-stage complications. However, with the tests now complete, the upgrade would address these centralization issues.
Waq seconded Jasper.lens' views, adding that their community has been working tirelessly for over a year to resolve this. He also cheekily predicted that Lido would opportunistically attempt to seize the credit once the issue is rectified.
Over the last few months, liquid staking protocols like Lido and Rocket Pool have surged in popularity. Blockchain analytics platform DefiLlama reported that these protocols have outshone decentralized exchanges in terms of total value locked.
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