Lido, a liquid staking protocol, has begun consolidating 8 million ETH, valued at $16.5 billion, as part of an effort to reduce its validator count by a third.
This move also marks the first time that Lido's professional node operators will be required to post bonds, as reported by CoinDesk.
Lido's decision to consolidate its staked ether and reduce the number of validators aims to optimize its operations.