Establish a Public Delegate Platform and Delegate Incentivization Program

Proposals
41

:wave:

@zcf Charlie is looking to join the Delegate Oversight Committee Multisig with address 0x9f89273A038c2B134713dE41b1947217a8d21464

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42

Great news! The Delegate Oversight Committee multisig is up and running! :tada:

Address: 0x13600b9AEE86f8254969918B1E9ae6ea091b8727
Quorum: 3/5

It will be added to the Lido docs soon :rocket:

43

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

  1. 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.
  2. 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.
  3. Clear Communication: We must clearly define and communicate deadlines.
  4. 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.

–
Delegate Oversight Committee Members:
Jenya_K, kadmil, Olga_Kniazeva, Charlie Feng, Marcela Ochoa.

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44

Delegate Incentives for Q1 Sent :tada:

All incentives for the Delegate Program in Q1 have been successfully sent!

You can find the transaction details here:
0x0de0a00d2f82e59b5fd0b46c51e46b6004a03d66a95da172910816a704be62c9

Looking ahead, the first voting slot for 2025 is scheduled for January 23rd. If you’re aiming to qualify for incentives in the second quarter, be sure your delegations meet the 2M LDO eligibility criteria.

Happy holidays, and we’ll see you in the new year! :christmas_tree::sparkles:

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