As the 4th quarter of 2023 wraps up, it is with great enthusiasm that contributors present LEGO’s accomplishments for this period.
Dive into the comprehensive LEGO Q4’23 report available here.
For those needing a quick refresher, LEGO, short for Lido Ecosystem Grants Organization, is an innovative initiative from Lido DAO. Its core mission is to bolster projects that contribute positively to the Ethereum liquid staking environment. Designed with efficiency in mind, LEGO empowers a range of innovators - from builders to researchers - by providing them with the essential funding and resources needed to bring their creative ideas to fruition.
LEGO is more than a funding source; it’s a catalyst for growth and innovation, playing a crucial role in maintaining Lido’s position as a top-tier liquid staking protocol.
To delve deeper into LEGO or to explore funding possibilities, visit the Lido Ecosystem Grants Organisation - LEGO.
The past quarter, Q4 2023, featured a range of notable grants, including:
- ZK Lido Oracle powered by Succinct;
- Distributed Utilization of Configurations and Knowledge initiative aiming to enhance the operations and reduce risks for Lido node operators;
- DVStakers grant;
- 2nd leg of Operator Scoring System research;
- LDO voting power delegation research;
- Community Lifeguards Initiative had 2 new members and shared reports of their achievements;
- And many more!
As the quarter ends, a total of $296.7K was allocated to LEGO grants, amounting to 59% of the allotted quarterly budget.
- The LEGO budget will remain at $500,000, with a 20% LDO and 80% DAI (or another USD stable) token split.
- Individual allowances will be recalculated each quarter: USD equivalents using a 30-day TWAP will be calculated for 15k and 10k LDO (council and nominees, respectively). If a LEGO member’s wallet holds a balance equal to or higher than the calculated allowance, it will not be refilled.
The refill amount and individual allowances for Q1 2024 are as follows (using a 30-day TWAP for LDO as of January 1st, 2024 = 2.3972):
The requested DAI amount includes the swap of extra LDO in the LEGO multisig (due to the change in budget split) with Lido DAO treasury, with LDOs to be sent back to the treasury.
For more information on proposals submitted to LEGO, please visit research.lido.fi.