Appreciate this contribution to the community but would kindly request:
- remove LDO from the treasury view, we advocate the view that LDO in treasury is 0 until it is employed - it should certainly never be used in ‘farms’ in our view
- remove the nomenclature of ‘farming’ altogether as the stETH in the surplus is not being ‘deployed’ it is simply the outcome of a programmatic on-chain protocol ‘middleware’ that coordinates incentives between stETH holders and node operators
- a base currency view in ETH, which is the DAO’s primary unit of account according to the DAO-approved Treasury Management Principles, rather than USD
Regarding strategies in the future, the view we represent on the Treasury Management Committee is that stETH (+ other Lido rebasing assets like stMATIC) and stablecoins are all that should ever be part of the surplus with a view to making policies for a future state of fully autonomous self-regulation. Other members may differ in their views.
For the avoidance of doubt, the Treasury Management Committee and its members do not make decisions, allocation recommendations, take custody of funds or direct the surplus to be actively managed or farmed in any way.