There are only a couple of hours until this snapshot vote turns to closed. Having that in mind along with some comments from the voters on snapshot and other communication channels, I would like to post better clarification for this proposal:
When we compare Lido on Polygon to for example Lido on Solana, Solana has 2 teams (P2P) and Chorus One that still receives LDO tokens despite having less market than Lido on Polygon (1.5%), and Lido on Solana has spent much more incentives on it then Lido on Polygon.
Core Lido team has a base compensation plus a bonus in LDO which doesn’t exist for Lido on Polygon team. The issue with this is that the Lido on Polygon team is working on the product for more than a year and crucial people don’t have any stake in the game and we need to incentivize them to stay aligned with the protocol long-term. This is the critical issue!!
Shard Labs has bootstrapped Lido on Polygon from the start to today with 0 cost share from Lido due to the bad incentive terms. One of the reasons why this is such a bad proposal for Lido on Polygon is because at the time DAO members wanted to create a template for Lido on X, which is a step that we still didn’t achieve, but is a must if we want to make Lido on X successful in the future, especially with the future projects that are coming.
Unfortunately, NEAR proposal didn’t go through and the only way to bring high-quality teams in the future is to give them a template they can use so they know they are getting a fair deal that’s acceptable to DAO. New teams that are looking to get involved in Lido and expand it’s ecosystem are just not comfortable to take action until they are seeing discrepancies this big in terms and teams failing due to lack of alignment and support during bootstrapping phase.
One of the big issues also is that Chorus One still has a validator, still gets LDO tokens from market share capture, and got additional 600k LDO while exiting Lido on Solana. Here is the link for more details: Lido on Solana - Proposed Transition from Chorus One to P2P
We are sharing all our know-how, our connections, and our code with other Lido on X teams and Lido core to make the whole Lido ecosystem more successful. Like a true part of the family as we want Lido to succeed in times when everyone is attacking Lido because of it’s success on Ethereum.
Special note is that Lido BD’s often use Lido on Polygon to test new work models and based on performance replicate it on the mainnet.
It’s just not fair that Shard Labs has to bootstrap the Lido on Polygon, which is by the way most successful Lido on X project.
In the end, I agree with the claim “Polygon is the biggest opportunity” is subjective and I’m biased towards it, but objective insight is that Lido on Polygon is the biggest Lido on X only behind Ethereum itself, and has achieved the best results in all of the Lido on X products. Despite having the worst terms and the best LDO to TVL conversion ratio.
I invite you to revisit the proposal, read it through and post your votes.