Establish a Public Delegate Platform and Delegate Incentivization Program

Proposals
48

Delegate Oversight Committee Quarterly Report ( 20 Dec - 24 Mar)

TL;DR

  • Six out of seven delegates initially met the 2 million LDO on-chain delegation threshold at the start of the first vote of the quarter (23 Jan) eligible for incentives.
  • Three out of seven (Ignas, Blockworks Research, DegentradingLSD) saw their delegations drop close to zero during the period. However, Ignas and Blockworks Research remained engaged in governance discussions, so they remain eligible for incentives. DegentradingLSD stopped participating after losing the delegation, so they are not eligible.
  • All 6 eligible delegates will receive 7,915 LDO each for Q2 of the pilot.
  • The Committee proposes continuing this program through the end of the year, subject to a forthcoming forum proposal and DAO vote.

Delegation and Evaluation Criteria

Quantitative:

  • Voting Participation: At least 70%
  • Delegation Threshold: Over 2M LDO delegated on-chain on 23 Jan

Qualitative:

  • Community Engagement: Meaningful participation in forum discussions, constructive feedback, and/or additional contributions to DAO decision-making.

Delegate Performance Table (Dec 20 - March 24)

Delegate Aragon Participation Snapshot Participation Community Feedback Eligibility
@Nansen 2/2 — 100% 11/11 — 100% Consistently active, provides valuable comments and insights +
@Ignas 2/2 — 100% 11/11 — 100% Lost most of the delegation but retained ~20,000 LDO, continued voting and actively engaging in discussions +
@polar 2/2 — 100% 11/11 — 100% Thorough reasoning, provides detailed feedback to the community +
@Lanski 2/2 — 100% 10/11 — 90% Frequently participates in forum discussions, offers transparent reasoning for voting decisions +
@BlockworksResearch 1/2 — 50% 5/11 — 45% Lost nearly all delegation (down to 5 LDO), but remained active in forum discussions and contributed to March proposals +
@Wintermute 2/2 — 100% 11/11 — 100% Long-term participant, consistently votes and contributes +
@degentradingLSD 1/2 — 50% 5/11 — 45% After losing delegation, ceased forum and voting activity, thus failing the participation requirement -

Note:

  • @PGov and @Leuts received delegations after the quarter’s start and are not included in this incentive round.
  • The next quarter is proposed to begin on 1 April (if DAO approves), aligning the program with standard calendar quarters.

Sources: https://dune.com/lido/lido-delegations, https://snapshot.box/#/s:lido-snapshot.eth, https://vote.lido.fi/

Incentive Calculation

Six delegates met the threshold and engaged actively. Each will receive an equal share.

Quarterly Pool: $75,000
90-Day TWAP (25 Mar): 1 LDO = $1.5792 (Dune)
Total LDO: $75,000 / $1.5792 ≈ 47,492 LDO
Per Delegate: 7,915 LDO (for each of the six qualifying delegates)

Additional Retroactive Grant Request: $5,000 for @Tane

In addition to the delegate incentivization program for this quarter, a $5,000 retroactive grant is requested for @Tane’s contribution.

Reason
This retroactive grant is requested in recognition of @Tane’s role in initiating and pushing forward Optimizing Lido On-chain Voting Timelines for Inclusive Governance proposal, which was successfully executed in the latest on-chain vote and is now live.

While @Tane is a consistently engaged and thoughtful delegate — and a valuable long-term contributor to the community — it’s important to emphasize that this grant is not for overall activity or presence. It is specifically for identifying a place for improvement and attracting attention to the topic.

The committee considers this a clear example of what retroactive grants are meant to support: real problem-solving and real execution.

Lessons Learned

  1. Handling Delegation Drops
    A more explicit framework is needed for delegates who lose a significant portion of their delegated tokens during the quarter but remain substantively involved in governance.

  2. Fixed Quarterly Schedule
    Tying incentive periods to calendar quarters (Jan–Mar, Apr–Jun, etc.) increases clarity and reduces confusion for both delegates and token holders.

Next Steps

  1. Proposed Program Extension
    The Committee intends to propose extending the program through year-end. The forum discussion will address revised criteria (including how to handle mid-quarter delegation changes and clarify qualitative evaluation).

  2. DAO Vote
    The proposal will be subject to a DAO-wide discussion and vote to either confirm or decline the new conditions and extension.

12 Likes