# \[EGG\] st2024 v2: Continuity Grant Funding to Achieve GOOSE Goals **URL:** \ **Category:** Proposals\ **Created:** [June 13, 2024, 4:05pm UTC](https://research.lido.fi/t/egg-st2024-v2-continuity-grant-funding-to-achieve-goose-goals/7697 "2024-06-13T16:05:54Z")\ **Posts on this page:** 1\ **Showing post:** 1
**Author:** ![steakhouse](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/steakhouse/32/1878_2.png) [@steakhouse](https://research.lido.fi/u/steakhouse)\ **Post date:** [June 13, 2024, 4:05pm UTC](https://research.lido.fi/t/egg-st2024-v2-continuity-grant-funding-to-achieve-goose-goals/7697/1 "2024-06-13T16:05:54Z")
![image](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/f/f594d03a3283db490cfbd00042f25093bfe865d9.jpeg) _Source: Archival photograph of a stETH token (2024, colorized)_ ## tldr - Continue grant approvals to the Lido Contributors Group to advance towards hasu’s [GOOSE](https://research.lido.fi/t/hasus-goose-submission-proposed-goals-for-lido-dao-to-consider/) and [reGOOSE](https://research.lido.fi/t/regoose-updated-goals-for-lido-in-the-light-of-mvi-and-restaking/) Goals - Development, audit and deployment of multiple Staking Router modules, Dual Governance, Layer 2 integrations and reviews and zkOracles and integrations for stETH in restaking - Best-before date: 2024-12-31 - 24.6m DAI + 180k LDO in grant continuity for the Lido Contributor’s Group - 7.1m DAI in grant continuity for the Liquidity Observation Lab - 400k DAI for the [Community Lifeguard](https://research.lido.fi/t/egg-establishing-the-community-lifeguards-initiative-cli-sub-committee/) initiative ## Basic Data | Field | Description | | --- | --- | | **Proposal Name** | st2024 v2 | | **Which of the following GOOSE goals is your proposal advancing?** | 1: Lido has effective and decentralized governance, 2: Lido attracts the best validator set in the market, 3: stETH is the most used token in the Ethereum ecosystem | | **Proposed scope of work** | Engineering Coordination, stETH Core Protocol Engineering, Validator Set Engineering for the Staking Router, Alerting and Monitoring Tooling, Community Module, Governance Core Protocol Engineering, API & Components | | **Objectives** | Significantly advance all three GOOSE goals by focusing on expanding the validator set through Community Staking Module, growing stETH adoption in restaking and launching dual governance implementations | | **Total Budget Request** | 31.8m DAI, 180k LDO | | **Best-before date** | 2024-12-31 | ## Review of st2024 v1 ![image](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/a/adf9ee337dbe218acfd6a0e37e57d6f045bf9798.png) In line with recurring underspends, the st2024 v1 EGG has a positive variance of ca. $12m. This excludes the last half of May and the month of June, but do not expect significant grants in this period. Thanks to the EasyTrack process, DAO grantees do not receive the full, upfront budget requested through an EGG, but realize any variances on a rolling basis. ## st2024 v2 ![image](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/0/07ee4450f902fc78df40cac6268c632385b54b2a.png) st2024 v2 is a 6mo grant request to advance all three of the GOOSE goals approved by the DAO earlier this year and to double down on reGOOSE objectives approved earlier this year. All these goals are crucial for realizing decentralization objectives around governance minimization, validator diversity and stETH utility. Continuity for ongoing projects being outsourced to Pool Maintenance Labs Ltd., Argo Technology Consulting Ltd. or serviced by RCC, to collect functions relating to protocol execution, sponsorships and development support for the DAO. These existing contributor channels can mitigate present business continuity risks while advancing decentralised protocol governance. This proposal would ratify the below budget request that will continue grantee funding for a further 6 months through EasyTrack contracts into three multi-signature addresses DAI 24.6m and LDO 180,000 will be approved for the period Jul-2024 to Dec-2024, distributed across the below grant approvals. Approval of a continuation of the previous [grant](https://research.lido.fi/t/lido-v2-may-1-2023-december-31-2023-lido-ongoing-grant-request/) to Pool Maintenance Labs Ltd., an independent not-for-profit staking advocacy and technical services company and existing contributor in the British Virgin Islands, transferred to a company-authorized 4/7 multi-sig wallet with signers listed below: `0x17F6b2C738a63a8D3A113a228cfd0b373244633D` adcv: `0xcC692077C65dd464cAA7e7ae614328914f8469b3` folkyatina: `0x75E01e1B7a4Ac280fB744A8153beE668A7e83abd` kadmil: `0x9A3f38AF97b791C85c043D46a64f56f87E0283D4` Azat: `0xA14BFfd91fb571bF1D9Bec70f273CAc13CA127Fa` krogla: `0x000000DfE832ccD7a4011a1Fca34602C9a598353` skozin: `0x181dbb1E8156518a58Cbb83AF4D3C41E731c6bdF` rotorless: `0xF6E9a144D727C239cC2A7C64C48B8b9A0E39b3dc` Approval of a continuation of the previous [grant](https://research.lido.fi/t/lido-v2-may-1-2023-december-31-2023-lido-ongoing-grant-request/) to Argo Technology Consulting Ltd, an independent Panamanian software development company operated as a not-for-profit, funded through a company-authorized 4/7 wallet with signers listed below: `0x9B1cebF7616f2BC73b47D226f90b01a7c9F86956` - adcv: `0xcC692077C65dd464cAA7e7ae614328914f8469b3` - dgusakov: `0x992Ce4eEc8288274f60880c7770DdA265fCCe610` - Marin: `0x04e7C0350241b818eE5c92cc260008C9898F41cf` - ShardYaco: `0x59d07dc34B135B17b87840a86BFF7302039E7EDf` - madlabman: `0xA8815bc0B541D0a28dA7b8f759EB7E157e8fF8b0` - Alex\_L: `0xB339918e75664a07BB650513427559920C0A0F6C` - Juanbug: `0xB8Dcad009E533066F12e408075E10E3a30F1f15A` Approval of a continuation to fund the [RCC](https://research.lido.fi/t/lido-v2-may-1-2023-december-31-2023-lido-ongoing-grant-request/) 4/7 multi-sig wallet with signers listed below: `0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437` - Marin: `0x04e7C0350241b818eE5c92cc260008C9898F41cf` - Alex\_L: `0xB339918e75664a07BB650513427559920C0A0F6C` - irina: `0x8CeD94df9ddba8E38b6cb36639B6635F19Eb25C6` - UniteTheClans: `0x81ca68f085282434D15c09619360D6513710a979` - zuzu\_eeka: `0x004812da927b5dcd07e7329609edd75e25d2d295` - adcv: `0xcC692077C65dd464cAA7e7ae614328914f8469b3` - Mol\_Eliza: `0x21b82AA7149c8Fd0562E78b740937442FfD43094` If the proposal is approved, the first funding for disbursement to finance protocol operations would be requested from the DAO via EasyTrack 5 motions. Pool Maintenance Labs Ltd. `0x17F6b2C738a63a8D3A113a228cfd0b373244633D` Argo Technology Consulting Ltd. `0x9B1cebF7616f2BC73b47D226f90b01a7c9F86956` RCC `0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437` Multisig signers & addresses may be rotated by specified multisig after signalling the change to DAO on the governance forum. Number of signers can’t be lowered, and the threshold must be at least 50% of the signers. A further 7.1m DAI in wstETH at market value would be approved for the Liquidity Observation Lab to continue a previous [grant](https://research.lido.fi/t/liquidity-observation-lab-lol-liquidity-strategy-and-application-to-curve-steth-eth-pool/) to further liquidity incentivization, experimentation and research. LOL will continue to work to deliver public resources on stETH liquidity. To deliver on hasu’s [GOOSE](https://research.lido.fi/t/hasus-goose-submission-proposed-goals-for-lido-dao-to-consider/) and [reGOOSE](https://research.lido.fi/t/regoose-updated-goals-for-lido-in-the-light-of-mvi-and-restaking/) goals, areas of focus during the budget period will include: - Engineering Coordination - stETH Core Protocol Engineering - Validator Set Engineering for the Staking Router - Alerting and Monitoring Tooling - Community Module - Governance Core Protocol Engineering - API & Components At the end of the budget period, if GOOSE goals can be advanced further, the Lido Contributors Group may request another grant from the DAO to continue their contributions. ## Transparency As with the previous EGG, a mid-period review will be held to recap on the progress to date and report on variances. Publicly available information on the state of the DAO economics continue to be available [here](https://dune.com/steakhouse/lido-safu) (though the dashboard is being reworked over the coming weeks to update for Stonks and distinguish between new Staking Router modules ### July 2024 Tracking a substantial underspend in grant requests relative to the ceiling. Following September, we will recalculate an expected grant disbursement for the full year and communicate it in this thread to update expectations with more precision. ![telegram-cloud-photo-size-4-5888934358419621319-y](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/0/0af03ba4a3ddcf3bf4ad6fc7fac30df312fd182e.jpeg) ### August 2024 Continuing to track a substantial underspend in grant requests relative to the approved ceiling. We are recalculating a forecasted EOY grant disbursement level for the full year and communicate it here through an update. ![image](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/0/0a7610cf1d106233785015ab463ab52ec8b85a9d.png) ### September 2024 & Reforecast **To date, st2024 v2 has spent $6.9m out of an approved $24.6m ceiling, making the utilization track towards a ±60% range (40% underspend). This puts the end-year operating grant spend level in the $30m range.** This excludes other expenses such as grants for liquidity support or TRP. Liquidity Observation Labs grants are tracking 4.4/7.1 or ±60% utilization to date with a YTD total of $10.8m, tracking for an end-year estimate of $17m, in line with forecasts. ![image](https://europe1.discourse-cdn.com/flex013/uploads/lido/original/2X/a/a4d3421268fbaece178717d6c2b3bb58d9890b49.png) As we point out later in the thread, the main drivers are contributor grants and audit expenses. These grants could be reasonably considered to be ‘capitalizable’, i.e. development grants issued to work on Dual Governance are expected to be valuable for the protocol effectively ad-infinitum. This also makes it difficult to estimate the period over which the benefits to the protocol will accrue. This also explains the ‘lumpiness’ you may see in the Dune dashboard, as occasionally one-off audit expenses accrue. We encourage grant recipients to be more mindful of estimating forecast accuracy in the future, but also remind the community of the difficulty of correctly forecasting expenses of a ‘lumpy’ nature. We will continue to provide updates in the thread over the coming months for the rest of st2024 v2. --- _[View the full topic](https://research.lido.fi/t/egg-st2024-v2-continuity-grant-funding-to-achieve-goose-goals/7697)._