Batch Voting: 26th May, 2025
Proposal: Community Staking Module v2. Architecture and Fee Structure
Vote: For
Reasoning: The proposed changes in the architecture and fee structure of CSM address concerns around how large stakers can disproportionately benefit from the module at the expense of bona fide individuals (Independent Stakers).
With these changes, Independent Stakers get priority while retaining the same capital multiplier up to 16 keys, while large stakers get a reduced capital multiplier due to lowering the node operator fee rate for this group from 6% to 3.5%.
The changes to the architecture also improves operational efficiency and scalability of the module–e.g., strikes system, Improved Performance Oracle, EIP-7002 support, and overall improvements and clean-ups.
Proposal: Establishing the APM Committee
Vote: For
Reasoning: Similar to how we have the Relay Maintenance Committee to vet MEV Boost relays, it makes sense to implement a structured approach to vetting Auxillary Proposer Mechanisms such as pre-confirmations for use by Lido’s Node Operator set.
We note that security, fairness, and protocol alignment are the evaluation criteria which are in line with how MEV Boost relays are evaluated.
The Committee is a mix of Lido contributors (from technical workstreams and NOM), technical reviewers, risk experts, and APM community contributors. This setup provides adequate coverage on the technical side while mitigating centralisation of decision-making for registry curation.
Proposal: LIP-28: Dual Governance — Implementation, Parameters, Committees
Vote: For
Reasoning: Dual Governance essentially empowers stETH holders to veto contentious proposals put forth by the DAO (LDO holders) by pausing the implementation of such contentious proposals so that stETH holders have enough time to exit the protocol. This is a huge step forward in mitigating governance attacks for a critically important protocol of the Ethereum network.
The code has undergone four independent security audits, so we are confident in its robustness and reliability.
All proposed parameters were tested by two independent teams and results show that the system holds up well under stress, provided stETH holders act within the defined timelines.
Finally, we deem the constituents of the proposed committees for handling edge cases competent and sufficiently diverse to prevent unilateral control of the outcomes arising from edge cases.
Proposal: Vote #187
Vote: For. We missed the Main voting phase for this onchain vote as we were out of office but we will represent our “For” vote by not voting during the Objection phase.
Reasoning: Our onchain voting rationales aligns with our rationales for the corresponding Snapshot votes.
- Post-Pectra update: This is vital technical update to ensure Lido’s staking services remain compatible with Ethereum’s Pectra Upgrade, scheduled for March 2025 (Ethereum Pectra Upgrade Details). Failure to adapt risks disrupting staking services, undermining user trust, and weakening Lido’s market position.
- Add Easy Track Factories: This proposal streamlines MEV-Boost relay management through Easy Track, automating a previously manual and multi-step process, reducing the operational overheads of the Relay Maintenance Committee (RMC).
- Reduce keyRemovalCharge: We back this proposal as it promotes the careful growth of the Community Staking Module while keeping critical protections in place. With around 50 Node Operators waiting to join and the current 2% stakeShareLimit fully tapped out, there’s clear evidence that more room is needed to accommodate demand. The plan smartly ties the increase—to 3%—to specific conditions, like hitting validator targets or rolling out CSM v2, which keeps expansion steady and deliberate. Plus, cutting the keyRemovalCharge from 0.05 ETH to 0.02 ETH makes it more affordable for operators, fitting today’s network environment. These updates push forward Lido’s goals of widening involvement and spreading out validator control, strengthening the ecosystem’s decentralization.
- Increase Easy Track security limit for Liquidity Observation Lab: We support increasing the Easy Track (ET) limits for the Liquidity Observation Lab (LOL) multisig to 5,000 stETH every 6 months, aligning with the approved $8.5 million grant for H2 2025. This adjustment ensures that the LOL can access the full grant amount without operational delays. The DAO Ops team has further recommended raising the limit to 6,000 stETH to provide a comfortable buffer and reduce the need for near-term adjustments. This proactive measure aligns on-chain security constraints with operational needs, supporting the Foundation’s objectives effectively.