@zcf Charlie is looking to join the Delegate Oversight Committee Multisig with address 0x9f89273A038c2B134713dE41b1947217a8d21464
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Great news! The Delegate Oversight Committee multisig is up and running! 
Address: 0x13600b9AEE86f8254969918B1E9ae6ea091b8727
Quorum: 3/5
It will be added to the Lido docs soon 
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.
–
Delegate Oversight Committee Members:
Jenya_K, kadmil, Olga_Kniazeva, Charlie Feng, Marcela Ochoa.
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Delegate Incentives for Q1 Sent
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! 
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Delegate Incentivization Program: Q2 Eligibility Update
As the cutoff for Q2 eligibility was set at the start of the Snapshot voting on Thursday, January 23rd, 3 PM UTC, here is the final list of eligible delegates:
@Nansen @Wintermute @BlockworksResearch @Ignas @degentradingLSD @polar @Lanski
Eligibility Criteria:
A minimum of 2M LDO delegated on-chain is required for eligibility.
To receive incentives, delegates must:
- Participate in at least 70% of votes
- Share their rationales for votes on the Lido Research Forum during voting.
- Contribute meaningfully to discussions on the Lido Research Forum, enhancing the quality of discourse and providing their rationalizes when voting
You can verify these names and delegations on our dashboard: https://dune.com/lido/lido-delegations.
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Update on @Ignas Delegation Status & Incentive Allocation
The Delegate Oversight Committee acknowledges the recent changes in @Ignas delegation, which has dropped from 2M LDO to 20K LDO. However, based on our current framework, the 2M LDO threshold is evaluated at the time of the first vote in the quarter.
Given this, the Committee has decided that:
-
@Ignas will continue to receive incentives for this quarter, in line with the established rules.
-
We will review and discuss possible adjustments to the framework to ensure alignment with the program’s objectives going forward.
I hope that @Ignas can regain a higher level of delegated LDO shortly.
We believe this approach maintains fairness while upholding the integrity of the program. If there are any concerns or suggestions regarding this decision, we welcome further discussion.
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Thank you for the update and continuation of incentives for this quarter.
Will start more active efforts to receive lost LDO ASAP.
I think at the very least I can help sharing the recent Lido updates on my social channels like this post on the v3 but further efforts are needed here.
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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
-
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. -
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
-
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). -
DAO Vote
The proposal will be subject to a DAO-wide discussion and vote to either confirm or decline the new conditions and extension.
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