OK, we’ve got a few votes this week.
Snapshot votes:
Establish the Network Expansion Committee
Broadly speaking formalises the informal Network Expansion Workgroup (NEW) into the Network Expansion Committee (NEC). This appears to gain us efficiency and I appreciate the objection window for the DAO. I note an interesting post from @Lanski at the end of the thread that might be considered in the future. In favour.
Should Pier Two continue in the CSM following acquisition of Numic.
Should Alchemy continue in SDVT and LOP following acquisition of Brave Labs.
Three similar votes concerning acquisitions and their impacts on various
I am satisfied with the LNOSG review and am in favour.
Reevaluation on Lido on Polygon State
A valiant effort, but all indicators suggest this is an experiment that ought to be subsetted. it seems a distraction at this point and not a part of the the upcoming GOOSE cycle. In favour.
GOOSE 2024 cycle: Lido Goals for 2025
Always an important vote. I am in favour.
Goal 1: Strengthen LDO’s Role in Governance.
I read this, in effect, as a healthy LDO translates into healthy governance. I am glad to see this as goal one, as the main focus, because I notice a common trend on the forums from LDO holders who are unhappy with its performance (though recent trends suggest a more positive outlook). I am not sure exactly how LDO can be tied to protocol revenue - the fee switch is mentioned but I wonder why Uniswap went cold on it - but this should certainly be explored more, perhaps by a committee focusing on it. Philosophically speaking it is an excellent first emphasis given LDO is the key to Lido’s decentralisation.
Goal 2: Attract the Best Validator Set
To me this is perfectly logical and I have no comments except to support.
Goal 3: stETH is the most used token in the Ethereum Ecosystem
Product to product line to help Lido evolve in response to LST saturation. Institutional stakers in particular are a key customer Lido ought to be in a position to onboard given its position / advantage. This appears to be a situation Lido ought to be addresses immediately and I wonder how these discussions could even be started, but I suspect they have been ongoing elsewhere (likely with centralised providers). I am less convinced by restaking as an industry, but would not be completely dismissive. Crypto has a way of seemingly ‘overhyped’ innovations acting as the site of unexpected innovations, so I would still pay attention. Leverage is always reliable.
Horizontal it is.
Finally Vote 181:
Proposal
Change Easy Track limits for PML and ATC following the Snapshot decision (items 1 & 2).
Reduce the PML limit from 6M to 4M, and increase the ATC limit from 1.5M to 7M in USDC/USDT/DAI per quarter to reflect operational changes.
Increase the Lido Stonks stETH limit to 12,000 stETH and reset spent amount, as per the Treasury Management Committee’s decision to achieve TMC-1 (items 3 & 4). Resetting spent amount will allow swapping up to 12,000 stETH in 2024, and the limit will be reset again on January 1, 2025, as originally scheduled.
Update the reward address for Node Operator ID 16 (Simply Staking), as requested on the forum (item 5).
Broadly speaking onchain ratification and implementation of previously accepted Snapshot votes. Here I mostly focused on checking whether the limits and addresses in the items listed corresponded with those proposed, but there is nothing high-level here, but more administrative and non-controversial.