Landing Page for Node Operators and Open Applications for Terra and Solana

Hi all,

Shortly after the Lido DAO was initiated, we formed the Lido Node Operator Subgovernance Group (LNOSG). This group is tasked to represent node operators in the DAO structure and to help evaluate and onboard new operators to help secure and decentralize Lido. As Lido is expanding to multiple networks and growing in TVL, further professional validating companies may apply to provide their services to the DAO.

Recently, the growth of liquid staking on Terra (bLUNA) and the proposal to expand Lido to Solana by Chorus One (stSOL) allow us to consider onboarding further operators for said networks.

I created a landing page to help node operators learn about ongoing application process and to inform about the subgovernance group:

Most importantly, we are starting two application processes for operators that will run until June 6:

Apply for Lido for Solana: https://forms.gle/AMqp9FHQmnnvNjLm7
Apply for Lido for Terra: https://forms.gle/pprE9ndD49ZRPYzo8

We plan to soon hire someone directly from the DAO to manage node operator relations and to flesh out the subgovernance group and decentralization strategy some more. Stay tuned about that!

Felix

5 Likes

What is the current process of adding new staking options (such as Solana, Terra,…)?
More at random propositions, or is there a thought process behind it?
Can we expect other validators to start vouching for additional protocols?

We’d definitely love to see more proposals from other teams based on ours for Solana.

In my view, the protocols supported so far have been decided on based on a mix of the usefulness of liquid staking, the potential of the network itself, and team expertise. E.g. in the initial Ethereum staking phases liquid staking was (and still is) extremely valuable as otherwise there is no delegation and staked tokens would be locked until withdrawals are enabled on ETH2. Also it was likely that Ethereum is going to be the biggest PoS network, so initially Lido focused on this.

We were contemplating a bunch of different networks but decided on Solana because we have the most expertise here, we believe Solana will be a big contender in the PoS world, and of course the DeFi focus makes tokenized stake interesting (plus the staking UX is improved via liquid staking).

1 Like

@JK_stakefish @katernoir how do you guys think about this?
Any other protocols you support that might benefit from liquid staking?

The blocker to other staking products for Lido are teams willing to build and own this for Lido. It’s a very demanding work that requires a lot of focus and can’t be done by the original team that is laser focused on Ethereum.

Thanks Vasily!
With the original team you refer to the 5 starting staking pools?
I left out P2P specifically because of the focus on ETH2 now, but seeing Chorus One going after Solana made me think that maybe some of the others could potentially be thinking about it.

We also got 4 new validators added (Blockscape, DSRV, Everstake, Skillz) who could potentially start working on those (and maybe compensated?)

@FelixLts Hello. It’s interesting for us, but is there some economic information for Validators, to make a research?

  1. Economic model?
  2. Validator’s reward rate?
  3. Min and Max commission rate?
  4. How long it takes for stake to start work?
  5. 1 period duration?
  6. Unstale period?
  7. Undelegation period?
  8. Minimum stake amount
  9. Stake period
  10. Reward frequency
  11. APR?
  12. Distribution of rewards
  13. Minimum delegate stake?
    Many thanks)

Hi sorry for the delay!

  1. Validators will receive 5% commission on SOL staked with Lido. Stake will be distributed evenly between whitelisted validators.
  2. Around 8% APR currently on Solana *5% commission = 0.4%
  3. 5% will be mandatory
  4. activation period is usually 1 epoch on Solana
  5. 1 epoch is usually 3 days on Solana
  6. same (1 epoch)
  7. not sure what the difference to 6. is
  8. none
  9. initially there will be no redemptions from stSOL to SOL. Later, min 1 epoch
  10. Every Epoch
  11. again 8%
  12. automatically every epoch
  13. 0

Hello!
Many thanks, but I need this info for Anchor (bLuna) staking (not Solana). Could you provide it pls?

Пн, 7 июня 2021 г. в 11:52, FelixLts via Lido Governance <lido@discoursemail.com>:

Sure,

  1. again same as Terra usually. LUNA holders can pick validators to mint bLUNA from the Lido whitelist with.
    2./3. no commission min./max. explicitly. But it’s likely preferred to not be 0% or way above 10%.
  2. instantly
  3. block-ly on Terra
    6./7. 21 days, usual Cosmos
  4. none
  5. at least 21 days (based on unbonding period)
  6. every block
  7. around 11% for delegators * commission of the validator
  8. every block, claimable (as usual for Cosmos chains)
  9. 0
1 Like

Thanks to all that applied. Application window for this wave is now closed and the LNOSG is reviewing applicants with results to follow in the coming days.