OCTOBER VOTINGS REPORT
Spooky season for everyone? Delegates had no time for being scared or distracted, as lots of proposals to vote for this month. During it, in total there were 28 governance votings across all platforms:
Voting platform | # of votings |
---|---|
On-chain (prev. Aragon) | 2 |
Snapshot | 6 |
Easy Track | 20 |
Take a quick look at the dashboard below or check a detailed report below
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 (PREV. ARAGON)
Vote #179
Vote: Yes
Voting summary
- About: This vote is aimed at implementing on-chain:
- Upgrade wstETH on Optimism bridge endpoints to enable rebasable stETH on Optimism alongside wstETH.
- Add Easy Track setup for funding the Lido Alliance Operational Multisig. Line
- Voting platform: On-chain (prev. Aragon) – Lido DAO Voting UI
- Reasoning: All the suggested to implement were earlier supported via Snapshot. This vote will enact the supported proposals on-chain.
Vote #180
Vote: Yes
Voting summary
- About: This vote is aimed at releasing the Community Staking Module (CSM) for permissionless staking and upgrading the Staking Router to ensure compatibility with CSM and future modules, improving system efficiency. Also it includes the rotatation the Instadapp Oracle address, as requested on the forum.
- Voting platform: On-chain (prev. Aragon) – Lido DAO Voting UI
- Reasoning: All the suggested to implement were earlier supported via Snapshot. The Staking Router 2.0 and CSM release were properly audited by Ackee Blockchain and Mixbytes. This vote will enact the supported proposals on-chain.
SNAPSHOT
Lido Community Staking Module Mainnet Release Setup
Vote: Approve CSM mainnet release
Voting summary
- About: A signal vote from the Lido DAO members to get approval on CSM parameters, their configuration for use in the mainnet release, and the granting of some CSM management permissions to the CSM committee.
- Voting platform: Snapshot
- Reasoning: This inclusion into the Lido mainnet is a milestone making node operators set more decentralized, diversified and accessible to join by community and solo stakers. Parameters are thoroughly checked before being proposed.
Change Easy Track limits for PML & ATC
Vote: Support the change
Voting summary
- About: This proposal suggests updating the Easy Track limits for two multi-signature addresses in LCG (Lido Contributors Group) to reflect changes in PML (Pool Maintenance Labs Ltd.) from 6M to 4M and ATC (Argo Technology Consulting Ltd) from 1.5M to 7M USDC/USDT/DAI per quarter (for both) funding needs and token redistribution. These changes aim to align on-chain security constraints with operational needs.
- Voting platform: Snapshot
- Reasoning: This will allow to achieve the goals set by the 2024 v2: Continuity Grant Funding and to ensure healthy and sound utilization of cash flows, as well as to align on-chain security constraints with operational needs…
Increase the Proposal Threshold for Snapshot
Vote: Do nothing
Voting summary
- About: This proposal seeks to increase the Snapshot proposal threshold to 5k-15k LDO to prevent spam and encourage higher-quality submissions.
- Voting platform: Snapshot
- Reasoning: I do NOT support this community proposal, because the suggested design may decrease accessibility to submit proposals by individuals, while at the same time give additional burden to DAO Operations Workstream, as fair actors who do not own enough tokens will reach to them to create a proposal.
Lido Alliance application: Bolt
Vote: Onboard Bolt to Lido Alliance
Voting summary
- About: In this proposal, Chainbound asks for the onboarding Bolt (enables sub-second preconfirmations on Ethereum) as a part of Lido Alliance. Among other benefits, Chainbound plans to allocate 6.5% of Bolt’s total token supply to the Lido Alliance. At the same time Chainbound is seeking from this membership: endorsement, integration, and communication support; support and consultation.
- Voting platform: Snapshot
- Reasoning: Pre-confirmations are the next big topic. Bolt is a great addition to the Alliance and will benefit the protocol. It’s design (open-sourced, permissionless and moving towards censorship resistance) aligns with Lido Vibe and enables moving towards reGOOSE.
Integrate CSM into the Decentralized Validator Vault
Vote: Yes, vote for the integration
Voting summary
- About: This proposal aims to integrate the CSM into the DVV alongside the Simple DVT Module, benefiting stakers using the CSM, Mellow DVV users, and the overall decentralization of the Lido on Ethereum protocol.
- Voting platform: Snapshot
- Reasoning: This is a cool idea because the Mellow Decentralized Validator Vault will be a great resource for additional ETH inflow into CSM, in addition to directly from the Lido protocol itself. Thus, it will allow all participants willing to join the Lido operator set as a CSM operator to deposit faster, overall boosting Lido operator set decentralization and diversification.
Should the Lido DAO recognize the wstETH bridge endpoints on Zircuit as canonical?
Vote: Recognize
Voting summary
- About: The proposal is to recognize the wstETH token bridging endpoints for Zircuit by the Lido DAO as canonical. The DAO will control the endpoints of wstETH token contract (including the token contract on Zircuit itself) as a proxy admin, and will only have the upgrade authority of the wstETH proxy contract, and will not be able to manage the native bridge itself.
Vote for: “Recognize” - Voting platform: Snapshot
- Reasoning: Time to enhance wstETH on L2
EASY TRACK
There were 20 motions (you may find all of them in my votings database). None of them required to be objected.
If you miss some info, please let me know and I will update this report with it, as well as include it in my next reports
If you are one of those, delegating your LDO voting power to me, I appreciate your trust and am happy to vote on your behalf to ensure the best for Lido DAO. If you are a tokenholder looking for your delegator, you find a bit more about me, my values and governance approach here… or we can meet at person on the DevCon . DM me, if you are interested.
Have a great November, and look for another report at the end of the month!