After several months of development, the new Easy Track governance feature for the Lido DAO is finally ready to be released.
The feature is designed to lower voting fatigue from recurring Aragon votings and make the DAO routine operations easier.
Easy Track introduces the new type of votings called ‘motions’. With motions, governance token holders don’t need to vote ‘pro’ and only vote ‘contra’ if they disagree with the proposals. Motion is considered to have passed if the objection threshold hasn’t been reached within the preset timeframe. For security reasons, motions will only be available for a limited set of routine DAO operations:
- increasing node operators’ staking limits
- allocating funds to LEGO program
- allocating funds to ongoing reward programs
- managing the list of ongoing reward programs
Easy Track is a complex feature consisting of 16 smart contracts, a standalone UI app, and a notifications bot providing alerts on significant Easy Track-related events to the DAO community and development channels.
Easy Track feature has been initially proposed in a series of research forum posts (post one, post two) and resulted in the form of LIP-3 according to the formal Lido Improvement Proposal process. LIP-3 has been approved and merged, and it’s current version describes the developed feature correctly. For more in-depth technical description, please see the full project specification.
Easy Track smart contracts have been audited by two established security assessment providers.
First, a report from MixBytes() has been received, you can access it in the Lido’s public audits repo. All issues found have been properly addressed or acknowledged, the contracts have been considered safe.
The second security assessment was from Sigma Prime. The report has been published and is available in the same audits repo. The findings have been addressed, and Sigma Prime also considered the audited contracts secure.
Please note, that Sigma Prime’s audit findings required some changes to the smart contracts, and the code has been later submitted for re-audit by MixBytes(). We expect to have the final report from them early next year.
Full Easy Track functionality has been deployed and publicly tested in the Lido testnet environment in the early autumn.
For maximum security, there’re certain limitations in place for Easy Track that can be tweaked via regular Lido DAO voting. You will find the proposed initial values for these limitations below.
- Motion duration will be set at 72 hours. It can be increased or decreased later but cannot be less than 48 hours.
- Objections threshold to reject the motion will be set at 0,5% of total LDO supply. It cannot ever be increased to a value greater than 5%.
- Maximum simultaneous active motions count will be set at 12. The hard cap for this value is 24 active motions.
Each type of Easy Track motion can only be started by a limited set of accounts. We propose the following structure of motion creators:
- A motion to increase the node operator’s staking limit can only be started by the respective node operator.
- A motion to top up the LEGO program can only be started by LEGO committee multi-sig. This multi-sig is already being used to maintain LEGO operations.
- Motions related to reward programs (i.e. top-up reward program, whitelist reward program, remove reward program from the whitelist) can only be started by a dedicated Rewards Committee multi-sig. Details on committee tasks and composition will be shared on the research forum shortly.
The essential security mechanism for Easy Track is the emergency brakes lever. It provides a dedicated EOA or a multi-sig with an option to pause Easy Track completely. While paused, no motions can be created or enacted, but all the active motions can be objected to or canceled. The only way to unpause Easy Track is by regular DAO voting.
We propose setting up a 2/4 Easy Track Security multi-sig to have control over the pause lever. We nominate Lido protocol and Easy Track developers for this multi-sig:
Please, comment on this post if you want to nominate more people for the Easy Track Security multi-sig.
Over the current week, all the elements of the Easy Track feature are expected to be deployed to the mainnet, including the smart contracts, UI app, and notifications bot.
Tomorrow we will start a 7-days snapshot voting to confirm DAO consensus on the feature release.
If the snapshot voting passes, we will add the launch-related operations into the next omnibus voting on Thursday, December 2nd. When enacted, the proper roles will be granted to Easy Track smart contracts, and the feature will go fully operational.
Easy Track is something we have put a lot of time and effort into, we will appreciate as much feedback as possible. Please, don’t hesitate to share your concerns if you have any.