Proposal: Aragon Vote 179
Link To Discussions:
- Blockworks Opinion On Organize the Lido Alliance Program as a Lido-DAO-Adjacent BORG
- Blockworks Opinion On LIP-22: stETH on L2
Blockworks Vote: Yea
Blockworks Opinion On Organize the Lido Alliance Program as a Lido-DAO-Adjacent BORG
After thoroughly vetting the checks and balances between Lido DAO & BORG we can claim that the Lido DAO holds enough negative authority, where a decision passes only if it is NOT vetoed, that BORG is still subservient to its power. Independently of Lido DAO the Guardian Oversight and Supervisory Role further assures confidence in the BORG entity.
We support this proposal and see the LIDO Alliance BORG as a substantial architectural improvement over traditional Sub DAO working groups.
The primary near-term risk of LIDO Alliance BORG is the uncertainty surrounding the transition of the Supervisory Role from MetaLeX Pro LLC to, possibly, Lido OpsBORG. We look forward to an update on the progress of this transition in the coming months.
Blockworks Opinion On LIP-22: stETH on L2
We vote to approve! Given Ethereum’s focus on layer 2 scaling solutions and the flight of consumers from Ethereum’s base chain toward layer 2s, it is paramount to Lido’s success that stETH provides these users value by increasing its moneyness.
We see this proposal as a great step towards Lido’s one-year goal of “stETH [to be] the most used token in the Ethereum ecosystem” (GOOSE 1). A canonical version of stETH will serve to further solidify stETH’s position among the fragmented nature of layer 2s.
Future iterations of this bridging solution could consider instituting pre-confirmations to enable instant withdrawals for optimistic rollups. To increase the velocity of stETH withdrawing from optimistic rollups, a permissioned multi-attestor model where a threshold number is required for instant withdrawals could check, execute, and verify the block, providing a ZK proof that confirms the correctness of the state transition.