Irina Delegate Thread

Delegate Platform
20

SEPTEMBER VOTINGS REPORT :fallen_leaf:

Lido autumn governance kicked off with a bang — September brought two voting slots, and a couple of votes that brought major protocol developments (including CSM v2 and Triggerable Withdrawals) to mainnet. During the first fall month, in total there were 13 governance votings across all platforms:

Voting platform # of votings
On-chain 2
Snapshot 4
Easy Track 7

Take a quick look at the dashboard below or check a detailed report below :point_down:

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I took part in all on-chain and Snapshot votings. Please see a breakdown with the voting name, my vote and a short reasoning, as well as a short summary of what the vote was about:

ON-CHAIN

Vote #191
Vote: Yes

Voting summary
  • About: This proposal aims to fix the Dual Governance weakness reported through Immunefi. The fix involves redeploying certain Dual Governance contracts, configuring them, and linking the existing EmergencyProtectedTimelock and Admin Executor contracts to a newly deployed DualGovernance instance.
  • Voting platform: On-chain Lido DAO Voting UI
  • Reasoning: Addressing the identified weakness is quite important and ensure proper Dual Governance functioning. Certora and Statemind audited the fix, which will also verify the deployment and review the tooling contracts used during the voting phase. A special Immunefi contest was conducted on the fixed version of the contracts, with no vulnerabilities identified during the process.

Vote #192
Vote: Yes

Voting summary
  • About: This is an omnibus vote including several proposals:
  1. Upgrade to CSM v2 and increase CSM stake share limit from 3% to 5%, as per earlier approved Snapshot vote.
  2. Activate Triggerable Withdrawals, as per Snapshot decision.
  3. Update the reward address and name for Nethermind to Twinstake.
  4. Rotate Deposit Security Committee address for Kiln.
  • Voting platform: On-chain Lido DAO Voting UI
  • Reasoning: The suggested proposals were either approved earlier through Snapshot votes, or are part of usual operational procedures. CSM v2 upgrade and Triggerable Withdrawals activation were audited and verified before going to mainnet by reputable 3rd-party teams (Statemind and Ackee).

SNAPSHOT

Nethermind → Twinstake Validator Operations Migration
Vote: Approve the migration

Voting summary
  • About: This proposal seeks the decision on whether Nethermind’s active validators in the Lido on Ethereum Curated Set should be migrated to infrastructure operated by Twinstake.
  • Voting platform: Snapshot
  • Reasoning: Twinstake was developed as a joint venture between Nethermind and WebN in 2022. Delegating operations to a purpose-built staking provider (Twinstake) ensures that validators continue to meet the highest uptime, security, and responsiveness standards, while allowing Nethermind to remain focused on its core initiatives.
    The operational handover is low-risk, as Twinstake shares infrastructure DNA with Nethermind and includes engineers who have worked on both stacks. Nethermind will keep the original mnemonic seeds, used by Nethermind Seed Owners to derive the keys, in its custody.

Lido V3 — Design & Implementation Proposal
Vote: Yes

Voting summary
  • About: This vote asks whether to adopt the full Lido V3 upgrade (a major change to the protocol introducing stVaults that allow stakers to opt into specific operators/strategies while still minting stETH) with the presented design and its implementation.
  • Voting platform: Snapshot
  • Reasoning: V3 is GOAT :rocket: By separating operator selection from the liquidity layer, V3 turns Lido into a flexible platform that enables users to engage with strategies that fit their risk appetite by choosing operators, specific vaults, DVT setups, and other integrations. This will finally address use cases not covered before by a one-size-fits-all approach (now Lido Core), opening the floor to the new types of stakers and improving operator diversity.

NEST - Network Economic Support Tokenomics
Vote: Approve

Voting summary
  • About: This proposal is to build a modular mechanism, called NEST, for repurchasing LDO with stETH from the Lido DAO Treasury and routing the LDO back to the Treasury, effectively taking it out of circulation. This proposal requests approval of the concept of the NEST, its further research and design, while final designs and actual use of NEST will be decided in a future proposal once it is ready.
  • Voting platform: Snapshot
  • Reasoning: Buyback topic is constantly being discussed across the community, and the recent Tokenholder Update Call proved that. The proposed step to develop NEST builds a foundation and space for any approach selected in the future. Looking forward to seeing more holistic decision on the approach as a part of GOOSE for 2026.

Establish the stVaults Committee
Vote: Support

Voting summary
  • About: It is proposed to create the stVaults Committee to handle requests from Vault Owners and Node Operators for non-default terms, as well as to monitor stVaults’ performance, and grant it the ability to configure stVaults and/or Node Operator Tiers.
  • Voting platform: Snapshot
  • Reasoning: V3 architecture allows flexibility in fees and the reserve ratio for specific vaults, depending on circumstances, such as the NOs involved or particular business cases. The creation of the dedicated Committee, which includes Lido contributors who are co-authors of the risk assessment framework, will hand over the operational stVaults and/or NO burden from LDO holders, while enabling them to object to the Committee’s decisions via Easy Track motions.

EASY TRACK

There were 7 motions (you may find all of them in my votings database). None of them required to be objected.

Thanks, all LDO tokenholders, for entrusting me as your Public Delegate. Your support is instrumental in driving Lido’s governance improvements.

Happy apple pie and pumpkin season, everyone :pie: :heart_hands:

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