Delegate Oversight Committee Quarterly Report ( Q3, 2025)
TL;DR:
All seven active delegates met participation and engagement criteria. Each will receive 9,493 LDO (from a $75K quarterly pool at a 90-day TWAP of $1.1286). Most provided consistent, accountable input in governance and transparent reporting. While resource constraints delayed deeper program improvements, delegate performance remains strong, and DAO governance continues to function effectively.
Overview
The Delegate Oversight Committee assessed delegate activity during Q3: July 1 – September 30, 2025.
Eligibility Summary
- Delegation threshold: ≥1M LDO (on Snapshot or Aragon) as of July 1.
- Voting participation: ≥70% participation on both Aragon and Snapshot.
- Community engagement: Constructive, consistent input in governance, including feedback, reasoning, and presence.
All seven delegates met the criteria and qualify for equal rewards.
Performance Evaluation
| Delegate | Aragon | Snapshot | Community & Governance Contributions | Eligible |
|---|---|---|---|---|
| Anthony Leuts | 3/3 (100%) | 6/6 (100%) | Consistently active, detail-oriented, and transparent. Provides thorough reasoning and maintains public accountability across discussions. |  |
| Nansen | 3/3 (100%) | 6/6 (100%) | Offers steady, high-value feedback on changes. Reliable presence on the forum; commentary often helps clarify and refine proposals. | |
| polar | 3/3 (100%) | 6/6 (100%) | Raises uncomfortable but necessary questions and keeps focus on long-term sustainability. | |
| Lanski | 3/3 (100%) | 6/6 (100%) | Demonstrates consistent engagement, thoughtful input, and responsibility in decision-making. Actively ensures accountability in governance processes. | |
| Wintermute | 3/3 (100%) | 6/6 (100%) | Maintains consistent participation and transparent in rationale | |
| cp0x | 3/3 (100%) | 6/6(100%) | Outstanding engagement. Deeply analyzes proposals, challenges assumptions, and provides feedback. | |
| PGov | 3/3 (100%) | 6/6 (100%) | Steady and constructive presence. Offers clear reasoning, aligns with community priorities, and contributes consistently. | |
Sources: https://dune.com/lido/lido-delegations, https://snapshot.box/#/s:lido-snapshot.eth, https://vote.lido.fi/
Notes: Wintermute lost their delegation on July 30. Since eligibility is based on delegation as of July 1, and Wintermute remained engaged in governance throughout the quarter, they are still eligible for the incentive payment this quarter. Eligibility criteria may be revised to consider mid-quarter changes in delegation at the next proposal to renew the incentive program.
Reward Allocation
- Quarterly pool: $75,000
- 90-Day TWAP (September 30): 1 LDO = $1.1286 (source)
- Total LDO distributed: ≈ 66,454 LDO
- Per delegate: 66,454 ÷ 7 ≈ 9,493 LDO
Next Steps
- Rewards for Q3 will be distributed within three weeks of this report.
- Q4 evaluation period runs from October 1 to December 31. Snapshot date for Q4 eligibility is October 1.
- Delegates must maintain ≥70% participation and ≥1M LDO delegation to remain eligible.
Program Improvements in Progress
The committee continues to refine the oversight framework and clarify expectations for delegates. Progress on deeper profiling and updated conduct guidelines was slower than planned. The committee believes this does not materially affect program effectiveness: delegate engagement remains high, and DAO operations are stable.
The committee also reviewed the quarterly qualitative feedback section and determined it is no longer useful, as delegate behavior is largely stable and the commentary has become repetitive. Going forward, that section will be removed. The committee will instead monitor qualitative contributions directly, address issues with delegates directly as needed, and, if problems persist, reconsider their participation. Delegates and community members are encouraged to flag concerns to help maintain accountability.
As the current incentive program concludes at year-end, the committee plans to propose an extension alongside an update—including reflections, new structural ideas, and concrete improvements—closer to that renewal discussion.