Anthony Leuts - Delegate Thread

Delegate Platform
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Name: Anthony L
Address: leuts.eth (0x42E6DD8D517abB3E4f6611Ca53a8D1243C183fB0)
Forum: @leuts
Twitter: Leuts

Introduction: I am the CEO of Aragon. Previously a contributor at Vocdoni. I am an LDO holder and Lido DVT Simple Home Staker. My expertise is in onchain governance technology. I am a University of Waterloo alumni.

Motivation: Lido is the most important project in web3, with the most at stake ;). As a long term partner, supporter, token holder, and user I am happy to put myself forward as a delegate to the Lido DAO to help support and secure the Ethereum network.

Values and Decision-Making Approach: The future of humanity will be decided at the frontier of technological innovation and human coordination. We will either see deeper levels of censorship and oppression, or new and greater amounts of freedom. Lido has the power, capability, and responsibility to change the world by securing Ethereum and supporting the latter and as a delegate at Lido my goal will be to ensure Lido stays true to its mission, vision, and to uphold its values.

Thus my approach is to ensure the Lido DAO: Keeps Ethereum decentralized, accessible to all, and resistant to censorship and do this by supporting making staking simple, secure, and decentralized.

I’ll do this by communicating openly and focusing on being pragmatic in my decision making.

Public Acceptance: I accept Lido DAO delegate Сode of Сonduct (link) and Aligned with Lido’s Vibe (Purpose, Mission, Vision)

Disclosures: I am the CEO of Aragon. I own LDO. I own an extremely small amount of shares in Diva now known as Nektar. I work in the onchain governance tooling space, our largest users include Lido, Curve, Polygon, and Taiko.

Waiver of Liability:
By delegating to me, Anthony Leuts, you acknowledge and agree to the following:

  1. I do not control or represent the DAO or the LIDO project and do not assume any responsibility or liability for the DAO’s or LIDO’s actions or decisions.
  2. I do not take over any responsibilities of the DAO or the LIDO project , and my participation is limited to the role of a delegate.
  3. I am not bound by any particular opinion when voting. Instead, I will vote in a manner that I believe is in the best interest of the LIDO project.
  4. By delegating your vote to me, you grant me the freedom to vote at my discretion with your delegation , which means you have no right to restrict me in forming my opinions or in how I cast my votes .
  5. I disclaim any liability for any loss, damages, or claims arising from your delegation of votes to me, including but not limited to, unfavorable decisions of the DAO, lack of development of the LIDO project, or other unfavorable or unforeseen circumstances. By delegating votes to me, you fully understand and accept the risks associated with interacting with decentralized smart contracts.
  6. All my activities and the relationship with you are exclusively subject to Swiss laws and Swiss courts.
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Happy to see your proposal, ser, and doubly so given the continuous support of Lido DAO from Aragon team =)

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Thank you! Looking forward to the continued success and bright future of Lido DAO and the Ethereum ecosystem.

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Decision rationale on the last 3 votes:

1. Increase the Proposal Threshold for Snapshot

Vote: Abstain

Rationale:

I had no strong feeling on whether it should have been increased or not. I always lean toward not making change for the sake of making change. As the DAO Ops team did not report the spam being problematic, and already had an agreement with Snapshot to reduce these issues. I do not believe it was necessary. That being said, Lido’s requirement for putting up a vote is much lower and more open than most other DAOs in the industry. This has tradeoffs. I entrust the DAO Ops team to put up a proposal if they see this becoming a problem. I also voted before there was much feedback in the forum and the vote was live, thus I went with abstain.

2. Change Easy Track limits for PML & ATC

Vote: Support the Change

Rationale:

Based on the information provided here and here by Steakhouse it seems there is underspend meaning the changes are sensible.

3. Lido Community Staking Module Mainnet Release Setup

Vote: Approve CSM mainnet release

Rationale:

CSM continues to ship! As a user myself and with my team we are very pleased with the outcome of the program so far. Very happy to continue to see it flourish and grow.

It perfectly fits Lido’s mission in decentralizing Ethereum and overlaps with the GOOSE goals put forward by Hasu. I am a big advocate for CSM at this stage!

Disclosures:

  1. None
  2. None
  3. I am a CSM user

Thank you to @Lanski for providing a format for decision rationale! Much appreciated.

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1. Vote #179

  1. Upgrade wstETH on Optimism bridge endpoints to enable rebasable stETH on Optimism alongside wstETH. Following Snapshot vote and proposed action plan. Solution audited by MixBytes and Ackee Blockchain. Items 1-5.
  2. Add Easy Track setup for funding the Lido Alliance Operational Multisig following the Lido DAO Snapshot decision. Item 6.

Vote: Yes

Rationale:

Both votes are non-contentious with near unilateral agreement across the DAO to vote yes. I see no reason to vote no. Audits are in order, standard procedure, and payload looks good.

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1. Should the Lido DAO recognize the wstETH bridge endpoints on Zircuit as canonical?

Forum post here

Vote: Yes

Rationale:

Zircuit is a respected upcoming L2 with traction and high-TVL.
Lido contributors have reviewed the code and offered suggestions for improvement, thus stamping their approval.

2. Integrate CSM into the Decentralized Validator Vault

Forum post here

Vote: Yes

Rationale:

More ETH flow into CSM. More decentralized. Lindy is growing and thus safety.

3. Onboard Bolt to Lido Alliance

Forum post here

Vote: Yes

Rationale:

Preconfirmations were an integral part of the Alliance wishlist. This is a step forward in realizing this wishlist.

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Aragon Onchain Votes: December 20, 2024

1. Change Easy Track limits for PML and ATC

Forum post here

Vote: Yes

Rationale: In order to support the goals set by the Continuity Grant Funding initiative and adjust token flows that haven’t changed since 2022, it makes sense to alter these onchain parameters.

2. Increase the Lido Stonks stETH limit to 12,000 stETH and reset spent amount

Forum post here

Vote: Yes

Rationale: Makes sense, the higher limits are in line with execution of TMC-1 and improve their operations.

3. Update the reward address

Forum post here

Vote: Yes

Rationale: As requested in the forum.

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Just an update on my delegate thread updates: as I have no delegation via Snapshot I will no longer provide updates on Snapshot signalling. I don’t want to create more unnecessary noise that has no impact on anyone.

I will continue to update my decisions and rationale here on Aragon onchain votes for now.

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Gm!

An update:

As I have received more delegation both offchain via Snapshot and onchain via Aragon I will once again begin providing rationale for both types of votes here in the forum.

Looking forward to it and thank you to anyone who has entrusted their delegation in me.

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March 18 vote updates and reasoning:

  1. Onchain Vote 184: Optimizing Lido On-chain Voting Timelines for Inclusive Governance

Vote: YES

I have reviewed the payload and all the onchain changes seem correct including the vote times. It’s important to note when reviewing that the TOTAL vote duration is 5 days (call data: 432000) and the objection period 2 days (172800). This is correct with the main phase being “full voteTime - objectionTime”.

In relation to the social parameters of extending the vote duration, it makes sense. It was sadly too short before for voters to react and reach quorum.

Offchain Signals:

  1. # Lido DAO Ops Multisigs Policy 2.0

Vote: YES

This is a good start in increasing the security and opsec of the Lido DAO multisigs, however, I have followed-up with further questions as I believe there is room for improvement.

  1. # SSV Lido Module Proposal

Votes: YES

This should increase decentralizatiom both via an increase in permissionless participation as well as more robustness of the total validator set.

Anytime we can reduce barriers to entry for independent stakers and smaller node operators is a net positive for the Ethereum ecosystem.

  1. # MEV-Boost Relay Allowed List management via Easy Track

As @polar said: “Streamlining and improving governance, what more could one ask for. FOR.”

  1. # Ensuring Compatibility with Ethereum’s Pectra Upgrade

Vote: YES

Essential for Lido and Ethereum that Lido safely and securly is compatible with Ethereum’s Pectra Upgrade. This is a massive undertaking and proposal to review. I don’t even think many people can reasonably do this. Everything seems to make sense, and it’s being performed in a safe and staged way.

  1. # [EGG] Lido Labs BORG Foundation Grant Funding Request (Apr-Dec 2025)

Vote: YES

  1. # [EGG] Lido Ecosystem BORG Foundation Grant Funding Request (Apr-Dec 2025)

Votes: YES

It’s essential the Lido BORGS are well funded to carry-on the mission of the Lido DAO. However, I would be remiss to note that these costs are exporbinant compared to any other project in web3. Lido is without question a leader, that generates revenue, and has high-costs due to the nature of it’s product and offering. Lido has to continue to not only be the leading liquid staking provider, BUT, it also has to take market share from centralized parties such as Coinbase that put Ethereum at risk. Finally it also needs to diversify and reach new markets for its own growth and sustainability.

All that being said, I think it would be extremely wise to determine how to reduce costs where possible.

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I voted Against Re-endorsement of wstETH on Starknet.

Poor incident response and weak retrospective.

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April vote updates and reasoning:

Aragon On-chain vote 185

Verification guide here

Vote: Yes

Rationale:

Ensuring continued compatibility with Ethereum’s upcoming Pectra hardfork is essential and this is a first step in ensuring operability.

I have reviewed the payload and verification guide and have voted yes.

Thank you to the DAO Ops team for always providing incredible guides and information to ensure we have an easier time of verifying everything.

Snapshot Signals:

Extend Delegate Incentivization Program through 2025

Forum post here

Vote: For

Rationale:

Disclaimer: I am a new delegate and have not financially benefited from this program to date. With this vote I may be eligible in the future for rewards for my work.

I have provided more information here that I do not agree with all the changes to the program, however, I am not going to stop or halt the program for these minor recommendations seeing as in general the program is achieving its goals. I will consider being more forward and aggressive in the future about these recommendations based on another quarter of data and information.

Lido Alliance application: Twyne

Forum post here

Vote: For

Rationale:

The project albeit extremely early seems promising and the conditions are very beneficial to Lido if they are successful.

  • 10% of Twyne’s token supply subject to a 1 year cliff and 2 years vesting
  • 50% revenue share on stETH pools where revenue share for Lido Alliance is primarily used for incentives and liquidity on Twyne

They are also incubated and invested in by Euler, followed by Angel backing from names like Daedalus who are well known to the Ethereum ecosystem and have great track records.

CSM: stakeShareLimit and keyRemovalCharge parameters adjustment

Forum post here

Vote: For

Rationale:

CSM is a great initiative that is having amazing early traction. Increasing from 2 to 3% is an easy and conservative change which is safe. In fact, I agree with @Lanski that this hopefully can be accelerated in the future.

Increasing LOL Easy Track Limits to align with Grant Requests

Forum post here

Vote: For

Rationale:

At this stage I don’t see why not. I’d recommend being very careful though with this mentality: “provide a comfortable buffer above the anticipated spend to support the committee’s operations over upcoming periods” as there are always costs associated with large buggers.

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Vote #186: Emergency rotation of compromised Chorus One oracle.

Vote: Yes

Rationale:

Reviewed the payload, looks good. Obvious why this must be changed.

1 Like
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187/188 ONCHAIN VOTE

Vote: For

Rationale:

Aligned with Snapshot signal rationale above.
I double checked the voting guide and references, had one piece of feedback to the Lido DAO ops team, all looked good.

Community Staking Module v2. Architecture and Fee Structure

Vote: For

Rationale:

Seems like an intelligent and smart remodel. Modularity is still the smartest architectural design in our industry until it is mature enough.

Establishment of the Auxiliary Proposer Mechanisms Committee

Vote: For

Rationale:

Bit worried about the continuous fragmentation of too many committees although it seems to have served Lido DAO very well from an external perspective allowing smaller groups to be more focused with less overhead.

LIP-28: Dual Governance — Implementation, Parameters, Committees

Vote: For

Rationale:

I’ve spoken at length about the thoughtful, intelligent, and rigorous design of Dual Governance. I have the utmost confidence that all the research and audits will ensure the deployment is safe both technically and socially, there is a lot at stake (haha)! It’s finally time to execute on this and put some defensive power of stETH into the hands of stETH holders. It will now be as important as ever to move forward in ensuring LDO is not forgotten as it’s only major utility before was the control and governance of Lido DAO and its permissions including stETH.

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Aragon Onchain Vote #189

Vote: Yes

Rationale:

Potentially the most important onchain vote in Ethereum history. Dual governance creates:

  1. Extra independent defense layer against the system taking particularly harmful actions
  2. Involvement of Ethereum users as stakeholders

It’s one of the best use-cases of onchain user protection in the industry.

Proposal for Updating Block Proposer Rewards Policy to Lido on Ethereum SNOP on Block Proposals v3

Forum post here

Vote: For

Rationale:

Should enhance clarity to Node Operators’ roles and responsibilities.

Decision on Kyber Network’s position in the Oracle Set: rotate to Caliber or remove and change the quorum

Forum post here

Vote: Rotate Kyber to Caliber

Rationale:

Seems like a requirement to continue continuity. “Caliber has been operating an oracle for Lido on Ethereum over the past 12 days on the Hoodi testnet. During this period, the Oracle has performed consistently and reliably, with all oracle reports being delivered on time. The infrastructure setup appears robust.” - Raman in the forum

DVT Integration Guidelines for the Curated Module Node Operators

Forum post here

Vote: Approve

Rationale:

This change should reduce some risks and adds diversity to setups. i.e. using the existing-key-sharding approach.

1 Like