Karpatkey Delegate Thread

Delegate Platform
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Delegate Information

Name: karpatkey
Delegate Address: 0x8787FC2De4De95c53e5E3a4e5459247D9773ea52
Forum: @karpatkey
Twitter: x.com
Languages: English, Portuguese and Spanish

Introduction and Experience

karpatkey is a DeFi-native organisation specialising in professional DAO finance through industry-leading research and tooling since 2020. We’ve been working with GnosisDAO, Balancer, ENS, CoW Protocol, and Lido on financial planning, operations, and strategy, diversifying their treasuries into sustainable portfolios of DeFi investments designed to support DAOs in executing their missions.

Why karpatkey

The Lido DAO is well-positioned to lead by taking community-driven governance initiatives and turning them into highly impactful programs that strengthen the protocol’s future.

At karpatkey, our governance team taps our network of engineers, DeFi strategists, data/financial/quant analysts, and accountants for subject matter expertise. As DAO treasury developers and contributors to some of our industry’s most reputable DeFi protocols, our team has the knowledge, trust, and alignment to contribute to Lido’s growth moving forward meaningfully.

We pride ourselves on being hands-on delegates in our areas of expertise and upholding our core values in every area of our participation.

In addition to our well-known DeFi and Treasury-related skills, we are interested in making an impact in broader DAO governance discussions. Our governance team will bring our expertise of working with other DAOs to create positive contributions to Lido DAO.

Delegate Communication Intent

This thread will provide regular updates to the community to ensure transparency and fully communicate our rationale as delegates. These updates will include our explanation for voting and may consist of other announcements related to our activity as an Lido delegate.

Public Acceptance

We are fully aligned with Purpose/Mission/Values of Lido DAO.

Disclosure

We are active contributors to the governance of other protocols, such as AAVE, Uniswap, and Safe. We also manage treasuries or serve on treasury committees for protocols such as Balancer, GnosisDAO, and ENS, and we hold multiple crypto assets in our own treasury. More information is freely available on our treasury reports.

Waiver of Liability

By delegating to karpatkey, you acknowledge and agree that karpatkey will participate on a best-efforts basis and will not be liable for any damages related to participation in the Lido Protocol or this DAO.

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Voting Actions - Sept 2nd - 6th

Proposal: Should Galaxy continue in the Curated Module set following the acquisition of CryptoManufaktur?

Vote: For

Reasoning: We voted in favor of this proposal for the following reasons:

  1. Operational Continuity: Galaxy and CryptoManufaktur have assured that there will be no significant changes in validator operations, infrastructure, or geographic distribution, ensuring minimal risk to the current system’s reliability.
  2. Precedent from Past Mergers: Similar acquisitions, such as those of Certus One and Prysmatic Labs, did not disrupt the Curated Module. Historical instances show that these types of mergers have not negatively impacted node performance or decentralization.
  3. Community Consensus and Future Benefits: The Lido Node Operator Subgovernance Group (LNOSG) expressed no objections, and Galaxy’s global reach and strategic alignment offer potential improvements in infrastructure and business continuity, benefiting the Lido ecosystem.

Proposal: Organize the Lido Alliance Program as a Lido-DAO-Adjacent BORG

Vote: Approve the Lido Alliance BORG

Reasoning: We voted in favor of this proposal for the following reasons:

  1. Strong Governance and Accountability: The Lido Alliance BORG structure includes legal checks and balances with on-chain veto mechanisms through Easy Track, providing robust oversight and ensuring Lido DAO retains control over critical decisions and asset management.
  2. Operational Transparency: The BORG’s multisig structure, with 4/7 for alliance assets and 3/5 for operational funds, ensures transparency and shared responsibility, while giving Lido DAO a say in important financial matters.
  3. Sustainable Funding and Clear Budgeting: The proposal outlines a transparent budget for 2024 and future years, with clear guidelines for review and accountability, ensuring responsible use of funds for the operation of the Lido Alliance.
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Voting Actions Sep 30th - Oct 4th

Proposal: Increase the Proposal Threshold for Snapshot

Vote: Do Nothing
Reasoning: There is no clear indication that the action proposed would be effective. Additionally, we do not see the issue reported as a relevant problem within LidoDAO.

Proposal: Change Easy Track limits for PML & ATC

Vote: Support the change
Reasoning: These are threshold changes for two entities (PML & ATC) within the Easy Track, keeping the same budget approved here

Proposal: Lido Community Staking Module Mainnet Release Setup

Vote: Approve CSM mainnet release
Reasoning: This proposal asks for approval from the Lido DAO members regarding CSM parameters, their configuration for use in the mainnet release, and the granting of some CSM management permissions to the CSM committee concerning the Community Staking Module (CSM), initially announced and approved for development in November 2023.

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Voting Actions Oct 14th - Oct 18th

Proposal: Should the Lido DAO recognize the wstETH bridge endpoints on Zircuit as canonical?
Vote: Recognize
Reasoning: We voted to recognize the wstETH bridging endpoints for Zircuit, as it will allow users to transfer wstETH between Ethereum and Zircuit, enhancing wsETH liquidity there.

Proposal: Integrate CSM into the Decentralized Validator Vault
Vote: Yes, vote for the integration
Reasoning: It is good to see solutions that enhance the staking experience and boost the returns for the users, while continuing to support the decentralization of the Lido Node Operator set.

Proposal: Lido Alliance application: Bolt
Vote: Onboard Bolt to the Lido Alliance
Reazoning: We vote to onboard Bolt to the Lido Alliance. Chainbound’s preconfirmations are an interesting addition and the terms of the proposal are reasonable.

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Hello! Thank you for sharing, am I getting it right that you are skipping on-chain votes? What is the reason for it?

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Hello @Jenya_K.

We are committed to participating in all votes. We missed vote #180 due to an oversight in our monitoring, but we have implemented measures to ensure this does not happen again.

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Voting Actions Nov 25th - Nov 29th

Proposal: Establish the Network Expansion Committee (NEC)

Vote: Approve NEC

Reasoning: We support the adoption of a structure to oversee the expansion process, building upon the lessons from the Working Group.

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

Vote: For

Reasoning: We are following the LNOSG’s recommendation, which saw no reason not to approve the continuity after the testnet trial-run.

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

Vote: For

Reasoning: We are following the LNOSG’s recommendation, which saw no reason not to approve the continuity.

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

Vote: For

Reasoning: We are following the LNOSG’s recommendation, which saw no reason not to approve the continuity.

Proposal: GOOSE 2024 cycle: Lido DAO goals for 2025

Vote: For

Reasoning: We support the goals set in this proposal and are looking forward to helping Lido DAO to achieve them.

Proposal: Reevaluation of Lido on Polygon state

Vote: Sunset Lido on Polygon

Reasoning: This deployment did not get enough traction, and it makes sense to deprecate it and focus on more promising deployments.

Proposal: Online vote 181

Vote: Yes

Reasoning:

  1. Change Easy Track limits for PML and ATC - We supported these changes in Snapshot, and the reasoning remains the same.
  2. Increase the Lido Stonks stETH limit to 12,000 stETH - We support the changes.
  3. Update the reward address for Node Operator ID 16 (Simply Staking) - We support the request.
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