A proposal to engage a Business Development Lead for Lido, including proposed duties, compensation and incentive awards.
As Lido grows (increasing TVL, validator set and developing staking solutions for new networks), there are increasing challenges of coordinating current Lido community participants with one another and with new prospective partners and helping set and implement strategic priorities. Thus, a Business Development Leader role is needed for the Lido DAO.
Objectives & Responsibilities
The objectives of the Business Development Leader would be to help the Lido DAO:
- drive protocol outcomes, product adoption and best in class customer experience for users of Lido’s assets
- develop and execute the partnership strategy and tactics that will help to achieve Lido’s business objectives
- maximize efficiency and productivity through extensive process analysis and interdepartmental collaboration
- set the overall vision and strategic plan for the Business Development department and
- build and lead a world-class team
To help achieve these Lido DAO objectives, a strong Business Development Leader would:
- develop, implement, and monitor day-to-day operational systems and processes that provide visibility into goals, progress, and obstacles for our key initiatives
- build and maintain relationships with all department heads, external partners, and vendors to make decisions regarding operational activity and strategic goals
- plan, monitor, and analyze key metrics for the day-to-day performance of the operations to ensure efficient and timely completion of tasks
- devise strategies to ensure growth of programs protocol wide, identifying and implementing process improvements that will maximize output and minimize costs
- uphold organization policies and standards, ensuring legislative regulations are followed
- drive the operational cadence for the group, measure and track critical KPIs and initiatives, and present to an executive leadership audience
- develop strategic and business cases working with cross-functional teams outlining business opportunity, rationale, and execution plans to achieve the vision for the opportunity including product, GTM strategies, and business model
The Business Development Leader would be expected to devote substantially all of his business time/energy to the Lido DAO–i.e., this is a ‘full-time’ role.
The proposed compensation for Business Development Lead has two components:
- Cash compensation of $16,666.67 per month, payable in DAI from the Lido DAO.
- 185,586 LDO ($400k/$2.15533 per LDO 30 Days TWAP) LDO from the Lido DAO, structured to vest over three years, as follows:
61,862 LDO, vesting on the 12-month anniversary of continuous service to the Lido DAO; and 5,155.17 LDO, vesting upon completion of each subsequent month of continuous service to the Lido DAO.
The service-based vesting outlined above represents a contingency for each of the described periods; thus, if the individual quits or is terminated before completing the first 12 months of service, they would have earned no LDO. If they quit or are terminated during month 13, they would have earned 1/3rd of the total possible LDO (61,862) but would not have earned the rest of their potential LDO grant (123,724). There are no further lockups on fully vested LDO (i.e., once they vest in some # of LDO, they can sell that # of LDO at any time).
Oversight; Nature of Service
The candidate will provide periodic updates to the DAO through posts in the forum. The service provided as Business Development Lead will be ‘at will’ and may be terminated by the DAO at any time, with or without cause. The candidate may also resign from the DAO at any time, with or without good reason.