Delegate Oversight Committee Quarterly Report (19 September – 19 December)
Committee Members: Jenya_K, kadmil, Olga_Kniazeva, Charlie Feng, Marcela Ochoa
TL;DR
- The Delegate Oversight Committee confirmed that all 7 delegates met the 2M LDO on-chain delegation threshold and showed active participation to qualify for incentives.
- All 7 eligible delegates will receive 7,810 LDO each for Q1 of the pilot.
- The next set of eligible delegates will be determined on 23rd of January 2025.
- Lessons learned: We will continue prioritizing on-chain delegations, implement stricter qualitative oversight and communicate deadlines more clearly.
- Next steps: Eligibility for Q2 incentives will be determined at the start of the next voting cycle.
Program Context
The committee considered only on-chain delegations this quarter, as the initial rules were too complex. Anyone delegated over 2M LDO on Aragon qualified, and we plan to keep this simplified approach going forward.
Delegation and Evaluation Criteria
Quantitative:
- Voting Participation: At least 70%
- Delegation Threshold: Over 2M LDO delegated on-chain
Qualitative:
- Community Engagement: Meaningful input in proposal discussions
Delegate Performance Table (19 Sept – 19 Dec)
| Delegate | Aragon Participation | Snapshot Participation | Community Feedback |
|---|---|---|---|
| @Nansen | 4/4 — 100% | 17/17 — 100% | Strong overall participation. Provided clear, timely vote rationales and engaged actively in forum discussions |
| @Ignas | 4/4 — 100% | 16/16 — 100% | Very active, offering transparent vote rationales and engaged on discussions a lot |
| @polar | 4/4 — 100% | 17/17 — 100% | Excellent engagement. Shared detailed, high-quality feedback on proposals and consistently delivered timely insights |
| @Lanski | 4/4 — 100% | 17/17 — 100% | Excellent engagement. Provided thorough, expert-level feedback and regularly contributed detailed rationale |
| @BlockworksResearch | 3/4 — 75% | 10/16 — 62,5% | Participated in discussions and offered rationale on select proposals. Took some time to onboard and became more active toward the end of the quarter |
| @notjamiedimon | 4/4 — 100% | 17/17 — 100% | Participated in discussions and regularly provided vote rationales |
| @degentradingLSD | 4/4 — 100% | 17/17 — 100% | Began the quarter strongly but showed a gradual decline in discussion activity as the quarter progressed |
Notes:
- Ignas and BlockworksResearch received their delegations after the first Snapshot vote had already started, so they could not participate in that vote.
- Although BlockworksResearch’s Snapshot participation was only 62.5%, the committee will still propose to incentivize for this pilot quarter. In future quarters, failure to meet participation thresholds will result in disqualification from incentivization.
Sources: https://dune.com/lido/lido-delegations, https://snapshot.box/#/s:lido-snapshot.eth, https://vote.lido.fi/
Incentive Calculation
Seven delegates met the threshold and engaged actively. Each will receive an equal share.
Quarterly Pool: $75,000
TWAP (19 Dec): 1 LDO = $1.3718 (Dune)
Total LDO: $75,000 / $1.3718 ≈ 54,675 LDO
Per Delegate: 7,810 LDO
Lessons Learned
- On-chain Eligibility: Sticking to on-chain delegations aligns with token holders’ preferences and the DAO’s current state. We’ll keep this approach and apply stricter qualitative oversight next quarter.
- Flexible Scheduling: Fixed dates for determining eligibility don’t work well when voting windows shift. We need a more adaptive timeline to match the DAO’s evolving schedule.
- Clear Communication: We must clearly define and communicate deadlines.
- Stricter Timelines: Future quarters will enforce firm deadlines for reasoning posts and participation, improving accountability.
Next Steps
Refined Requirements: In the next quarter, all delegates must meet the criteria and submit required reasoning posts on time.
Timing for Eligibility: Eligibility for Q2 incentives will be determined at the start of the next voting cycle, planned for 23 January 2025. Every Public Delegate with 2M LDO delegated on-chain will be eligible. Any delay in voting start will shift the eligibility date accordingly.
Conclusion
The first quarter helped us understand how to measure delegate performance better and incentivize meaningful participation. We will continue to refine these processes to ensure fairness, clarity, and sustained engagement in Lido DAO governance.
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Delegate Oversight Committee Members:
Jenya_K, kadmil, Olga_Kniazeva, Charlie Feng, Marcela Ochoa.