Irina Delegate Thread

The end of 2024 was crazy, but still I would like to catch up on my monthly reports.

NOVEMBER VOTINGS REPORT :fallen_leaf:

Devcon was not an excuse to delay votings. Lido governance in November 2024 saw key proposals addressing strategic goals for 2025 and direction of Lido on Polygon, as well as operational improvements. During this month, in total there were 24 governance votings across all platforms:

Voting platform # of votings
On-chain (prev. Aragon) 1
Snapshot 6
Easy Track 17

A helivopter view on the image or check a detailed report below :point_down:


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 #181
Vote: Yes

Voting summary
  • About: This vote is aimed to:
  1. reduce the PML limit from 6M to 4M, and increase the ATC limit from 1.5M to 7M in USDC/USDT/DAI per quarter to reflect operational changes;
  2. increase the Lido Stonks stETH limit to 12,000 stETH and reset spent amount, as per the Treasury Management Committee’s decision.
  3. update the reward address for Simply Staking Node Operator as per their request.
  • Voting platform: On-chain (prev. Aragon) – Lido DAO Voting UI
  • Reasoning: All the suggested to implement were earlier supported via Snapshot (1) or are operationa changes to improve the processes (2 and 3). This vote will enact the supported proposals on-chain.

SNAPSHOT

GOOSE 2024 cycle: Lido DAO goals for 2025
Vote: Adopt Goals

Voting summary
  • About: This vote presents for approval Lido goals for 2025 suggested by @Hasu as follow:
  1. Expand stETH’s ecosystem with a diverse product line to meet the diverse needs of Ethereum stakers and reignite growth.
  2. Establish an open market for validators to align validator rewards with contributions against Lido’s mission.
  3. Strengthen LDO’s role in governance by aligning incentives with Lido’s long-term success, promoting stability and sustainability for the protocol.
  • Voting platform: Snapshot
  • Reasoning: Nobody says it better than Hasu. The suggested objectives can really help ensure that Lido will grow, evolve and succeed…

Reevaluation of Lido on Polygon state
Vote: Initiate reevaluation

Voting summary
  • About: This proposal outlines the request to reevaluate the economics of Lido on Polygon middleware or to transition towards sunsetting.
  • Voting platform: Snapshot
  • Reasoning: I do believe that we need to make a re-evaluation first, and then have on the scales the closure and reanimation plan (efforts, costs, outcomes). Existing reasoning that the Lido on Polygon state has been caused by market conditions is not sound:
  1. we see successful other MATIC/POL LSTs;
  2. there were absolutely NO marketing and growth efforts from the managing team confirmed by their comment (no guess that user have no idea about stMATIC opportunities).

Should Nansen continue in SDVT following the acquisition of Stakewithus?
Vote: For

Voting summary
  • About: Stakewithus is now part of Nansen. This proposal seeks suggest the DAO to decise whether or not to allow Nansen.ai to continue Node Operations in Lido on Ethereum Simple DVT as-is.
  • Voting platform: Snapshot
  • Reasoning: All of Stakewithus’s validators and related staking resources will remain fully operational by the exact same team with NO operational changes (personnels + geographical distribution of nodes + vendors utilized).

Should Alchemy continue in SDVT and LoP following the acquisition of Bware Labs?
Vote: For

Voting summary
  • About: Bware Labs was acquired by Alchemy. This proposal seeks suggest the DAO to decise whether or not to allow Alchemy to continue Node Operations in Lido on Ethereum Simple DVT and Lido on Polygon as-is.
  • Voting platform: Snapshot
  • Reasoning: Bware Labs “Blockchain Validators businesses will continue to operate as they have been” as per their blog, so no reason to stop their participation in both Lido on Ethereum and Lido on Polygon.

Should Pier Two continue in the Curated Module Set following the acquisition of Numic?
Vote: For

Voting summary
  • About: Numic was acquired by Pier Two. This proposal seeks suggest the DAO to decise whether or not to allow Pier Two to continue Node Operations following a trial run on testnet and then (upon successful completion) commences a slow ramp-up on mainnet.
  • Voting platform: Snapshot
  • Reasoning: Pier Two is a current Simple DVT operator. As soon as Numic had a security incident earlier, the proposed approach with testnet and gradual increase on the mainnet has lots of sense.

Establish the Network Expansion Committee (NEC)
Vote: Approve NEC

Voting summary
  • About: This proposal aims to establish a Network Expansion Committee that will be assigned to formally recognize (w)stETH token bridging endpoints and denominations on new networks as canonical, acting on behalf of Lido DAO.
  • Voting platform: Snapshot
  • Reasoning: The introduction of the Network Expansion Committee (NEC) will simplify and speed up the process, transferring decision-making from the DAO to the committee. This will smooth the deployment and review processes and reduce the potential for human error. At the same time, the DAO retain full control - the DAO vote that will reach a quorum can override any NEC decision at any time.

EASY TRACK

There were 17 motions (you may find all of them in my votings database). None of them required to be objected.


December report is being cooked and will be shared :soon: