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Our commitment to public good values is proven by continued support from people to our grants from Gitcoin Grants 4 up to the present, as well as awards in the Retroactive Public Goods Funding from Optimism
Developers trust us. We are active signers in projects like Yearn and SpiralDAO
We are one of the best delegates of the largest DAO - ArbitrumDAO.
Over the past 3 months, we have always been in the top 3 best in terms of voting level, communication and commenting proposals.
Motivation
We participate in many DAOs as a delegate and we like to work in this direction for the benefit of the development of the crypto. And we have a lot of experience in this.
Values and Decision-Making Approach
In our voting we always adhere to :
honesty,
objectivity,
transparency,
strive to develop the community for the public good.
With such principles, we are confident that we can help Lido develop.
Consists of 2 items that were previously in Snapshots 1 (Snapshot) 2 (Snapshot)
Vote #179
Consists of 2 items that were previously in Snapshots 1 (Snapshot) 2 (Snapshot) (but we couldn’t vote for them back then):
Lido wants to update the wstETH bridge on the Optimism network so that it can convert wstETH to stETH in L2 and back. All this will be tested first, the audit from MixBytes passed.
This is a good proposal for the distribution of Lido to other chains.
Creation of BORG (an intermediary company in the Caymans). They are asking for 125k for 2024 for directors and operational activities. Now there are 2 directors - both from Steakhouse, 5 custodians - all together - multisig for signing the transfer of funds from BORG.
In theory, such a company is needed for official representation outside of crypto. Let’s see what this leads to, for starters, you can see what the results will be in 2024.
2-point vote that was previously held in Snapshot 12
Staking router update:
automate key vetting and unvetting (needed for permissionless operation, DSM will not work without it)
ensuring fast validator exit and configuring this exit (needed for Community Staking, so that the validator can exit not only at the user’s request to withdraw funds)
distribution of rewards can now be performed independently of the Accounting Oracle’s third-phase report. Due to the increase in operators, this could lead to the risk of exceeding block gas limits.
The long-awaited Community Staking Module in Mainnet
rst-ever permissionless staking module built for the Lido on Ethereum staking protocol. I think this will give a big boost to Lido’s development.
There is no product yet, but its docs can be read here (Introduction | Bolt Protocol)
Bolt provides preliminary confirmation of transactions on Ethereum in 250ms, the ability to send transaction lists bypassing the mempool.
The plan is to implement it in the mainnet by January 25, 2025 (currently being tested in Holesky)
The CSM will be included within the vault’s scope, allowing stake from the vault to flow to the module and vault users will receive 80% of the DVT provider incentives allocated to CSM operators.
CSM operators in turn will receive 20% of the provider incentives.
No on-chain actions are required to implement this proposal.
Сoordination with the DVT providers and Mellow will continue for point calculations, also including the CSM Operators utilizing DVT in the point calculations for Node Operators and vault users
This is a proposal to create a committee of 4 members that will be responsible for expanding wstETH to different chains.
A very controversial decision on the dispute:
if someone is against, then you need to sign a message in Etherscan and the total number of LDO signatories must be more than 100,000.
Well, in general, there are many questions: why exactly these 4, why without elections, why is there no term limit, what is the payment for the work?
Too hasty decisions without elaboration, in my opinion. More disclosure of information is needed, as well as the formation of a convenient UI for the dispute.
Numic screwed up with security keys a few months ago, but it seems to have worked out.
Then the unit responsible for validation was bought by Pier Two.
They improved their security and this was checked by the LNOSG group.
Now the issue of allowing Pier Two to continue working as Node Operators is being decided. For this, the company agreed to test everything first in the testnet and gradually move to the mainnet.
I don’t see any reason to refuse, given the testnet.
Again, similar situation with the two previous votes.
A month ago, Nansen bought Stakewithus.
Considering that neither the team nor the server placement is changing (according to Nansen) and that the LNOSG group also conducted an analysis, I see no reason to refuse.
Background:
In 2021, a proposal was accepted (Snapshot) to make stMATIC, launch Lido on the Polygon.
However, from an economic point of view, expectations turned out to be bad:
low popularity among users
limited growth of Polygon
increased competition
Two options:
Stopping deposits from December 16, 2024 and ending operations in six months, from June 16, 2025.
Cost - $ 100,000 for technical support (the same was on Solana)
Conduct an analysis of the business model and marketing to assess changes in operating expenses, commissions.
Cost - $ 1,500,000. There was a proposal with a similar price on Solana, but it was not supported and everything was done according to option 1.
Taking into account the transition of Polygon POS to zkEVM, I don’t see any prospects.
Vote for Sunset Lido on Polygon
GOOSE goals are defined for 3 years and are being revised for 1 year, if necessary.
In this cycle, one proposal for adjustment was submitted:
strengthen the role of LDO in governance - provide incentives for this
create a validator market. Provide rewards to validators in accordance with their contribution.
expand stETH. Add some other tokens, for example, for institutional ones, with farming, etc. (there are no specific solutions - these are general goals)
Approve the Snapshot decision (Snapshot)
Simple redistribution of funds between the PML and ATC programs. Essentially a formality.
Lido wants to increase the limit for selling stETH in DAI. Now it is 9,000 stETH, and it will be 12,000. The strategy does not change, it is planned to sell stETH every time there are 3 months of stablecoins left for various payments. It’s a completely understandable desire, I don’t mind.
Replacing the Simply Staking reward address. Multisig has changed, there is a verification with a signature (Ethereum Verified Signed Message) in Ethereum