Hey Lido community!
The 1st quarter of 2023 has ended and we’re excited to share a report on LEGO’s achievements for this period.
The full LEGO Q1’23 report is available here.
What is LEGO - A Reminder
LEGO - Lido Ecosystem Grants Organisation - is an initiative by the Lido DAO to fund and support developments that benefit and grow the Lido ecosystem. It is intended as a quick and efficient process through which industry contributors can effortlessly get access to the funding and resources needed to build their ideas.
LEGO is intended as a catalyst for growth and innovation to maintain Lido as a leading and most useful liquid staking protocol in the whole space.
You can learn more about LEGO and apply for funding by visiting Lido Ecosystem Grants Organisation - LEGO.
Quarter 1 Summary
The 1st quarter of 2023 was packed with fantastic grants, including:
- Nethermind has completed Phase 1 and started Phase 2 of an enormous project to design a mechanism for good validator set maintenance;
- Rated came up with a proposal to produce a methodology for the “solo staker filter”;
- Metrika has finished work on MEV Relay Dashboards and Alerts solution;
- Final part of the grant to Rat3d for rated.network development was disbursed;
- Donation to victims of earthquakes in Turkey and Syria started by ETHGlobal;
- Lido joined the European Blockchain Association;
- And many, many more!
By the end of the quarter $629K were allocated to LEGO initiatives (totalling 125.9% of the quarterly budget. Extra funds were requested from the DAO and approved through the following votes Snapshot #1, Snapshot #2.
Check out the full overview in Q1’2023 report.
What’s Next: Q2 2023
- The LEGO budget will remain at $500,000 equivalent. Budget will consist of 40% LDO and 60% DAI token split;
- Individual allowances to be recalculated each quarter: USD equivalent using 30d TWAP is calculated for 15k and 10k LDO (council and nominees respectively), if the wallet of LEGO member has higher or equal balance than calculated allowance - it doesn’t get a refill.
- The beginning of Q2’23 started with results of Ethereum Censorability Monitor RFP, please check it out, if you missed it and here are direct links to products:
Refill amount and individual allowances for Q2 2023 are as follows (using 30d TWAP for LDO as of April 9th 2023 = 2,3899):
Due to significant remaining LDO balance this time LEGO multisig does not require LDO refill, only DAI.
EasyTrack motion for LEGO MS top up to be started on Monday April 10th, the link to it will be provided in this post.
For more information on proposals shared with LEGO, visit research.lido.fi.
Update: recalculated refill amount according with the 30d TWAP as of 9th of April 2023.
