Questions I had during the voting process and to which I received quick answers
Buybacks aren’t taken into account because this isn’t Lido’s budget, but the DAO’s budget. Moreover, when purchasing, nothing much seems to change, just one token exchanged for another in the Treasury.
I initially didn’t see information about Lido making money on Treasury stablecoins; they indicated where exactly this is factored into the budget.
Many questions were also answered while reviewing the community call.
In the end, all the points seem clear. Ultimately, we end up with a negative budget of $6 million with ETH at $2,712.
Based on this, we can assume that with ETH > $3,072, the budget will be positive.
It’s also clearly stated that the budget for core operations is well above zero, and all expenses are used to develop new areas.
Reducing the yield to 3.5% for the Curated Module. This is a benefit for both the DAO, as a portion of the income will go there, and also increases competition and requires certain actions to increase yield.
Reducing the spending limit for Easy Track to 15 million LDO. This formalizes previous decisions in the snapshot.
Allowing sUSDS to be used by stablecoins, as they will be transitioning to receive income from treasuries. This is a logical decision given the adoption of the sUSDS yield strategy.
Matic will be converted to USDC (six months ago, Lido closed its program there, and 500,000 Matic were simply sitting idle). It’s strange that this decision came so late.
• Full launch of Lido V3 (Phase 2)
• Enabling Predeposit Guarantee for stVaults - meaning users start receiving income immediately after making a deposit, rather than waiting for 32 ETH on this validator (as was previously the case)
• Increasing the share of stETH external shares to 30% - potentially more stETH could be available
• Increasing the share of the Community Staking Module to 7.5%