The first quarter of LEGO has come to an end following 3 months of exciting ecosystem developments.
The following is a proposal to continue LEGO and to continue funding developments and initiatives which benefit Lido and the greater liquid staking ecosystem.
What is LEGO?
LEGO - the Lido Ecosystem Grants Initiative - is a framework by the Lido DAO to fund initiatives which help benefit and grow the Lido ecosystem. It is designed as a straightforward process through which external contributors can seamlessly gather the funding and resources required to act on their concepts.
By rewarding talent early with developer incentives, bounties, and infrastructure support, LEGO acts as a catalyst for growth and helps to maintain Lido as a leading and most useful liquid staking protocol in the whole space.
The first 3 months of LEGO can be read about in more detail here: LEGO's first three months.
A number of exciting initiatives were funded, including:
- A Uniswap v3 LP helper
- An Immunefi big bounty
- Lido liquid staking for Solana in collaboration with Chorus One
- A Lido content translation initiative and more.
We were allocated 240,000 LDO and spent 28,040 LDO, which is about 11.68%. Whilst this is somewhat inefficient, a foundation has been laid for LEGO to expand upon and more decisively allocate our resources.
Moving Forwards
By continuing with LEGO, we aim to expand upon our early successes and drive Lido developments further through unique collaborations and developer initiatives.
For the coming 3 months, we propose the following changes to how LEGO is structured to enhance intensity and efficiency of the program:
- Top up LEGO multisig to 240,000 LDO by sending 123,250 LDO from treasury.
- Keep the current LEGO council as an entity that gets to decide on boulders and helps prepare mountain-sized grants.
- Expand the number of people who manage personal allocations (10 thousand LDO) and can ack pebble-sized grants up to 20 individuals, with LEGO council being in charge of said expansion.
We predict the following changes to grow the scope of LEGO initiatives and improve the speed at which initiatives are processed.
Voting
The vote to continue LEGO will run on Lido Snapshot from August 10th to August 12th, with Snapshot link to be added here: Snapshot.