Polar - Delegate Thread

Delegate Platform
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This is an especially happy vote for me as it was Dual Governance that originally got me interested in Lido DAO. Vote 189.

This proposal has been extensively vetted with Deployment Verification, Formal Verification and two Audits. It has passed the previous Snapshot vote.

I see Dual Governance as broadly improving the decentralisation of Lido DAO by granting more autonomy to stETH holders, who are ultimately the end user w/ a direct stakeholder role in the ecosystem. It acts as a over-corrective on any outsized influence LDO whales may have (including delegates)! To my eye, it is a sort of sanity check that ensures there is an option should a proposal run against the interests of the Average Joe.

The committees involved appear to me well chosen (and I should note I am on the Tiebreaker Comittee) since they are distributed across the wider Ethereum ecosystem stakeholder set.

Overall I think it is a clever use of escrow mechanics to ensure all Lido community members have a voice or an option about governance decisions and I suspect more DAOs will adopt it going forward.

I want to congratulate all those involved as this clearly took a lot of game theory thinking to get correct.

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23

Vote 190

Rotate Lido on Ethereum Oracle Set member Kyber Network for Caliber, as per Snapshot decision. Items 1.1–1.6.

Confirms the previous Snapshot option to allow Caliber to succeed Kyber. Yes.

Increase CSM stake share limit from 2% to 3%.

Previous strong support on Snapshot. We need to increase the stake limit to see growth in the CSM. The charge reduction seems sensible in current market conditions. Yes.

Enable a grace period for CSM Node Operators by setting keyRemovalCharge = 0. Proposed on the Forum. Items 1.8-1.10.

This seems sensible and is time sensitive to July 2025 since CSM v2 goes live in August 2025. Yes.

Introduce a simplified CSVerifier for CSM. Proposed on the forum. Items 1.11, 1.12. Audit & deployment verification by MixBytes.

Having read the Conclusion in the MixBytes report which states no critical/high issues I am satisfied this will go smoothly. As a small note, it may make sense if these reports include a short Delegate summary or one is extracted, since we are essentially assessing the high level concerns. Yes.

Update the reward address and name for Node Operator ID 2 P2P.ORG - P2P Validator. Requested on the forum. Items 1.13, 1.14.

A functional change. Yes.

Switch off Easy Track environment for PML, ATC, RCC entities, deprecated after Snapshot-approved transition to Lido Labs and Lido Ecosystem BORG Foundations. Items 2–7.

An administrative change to enable the BORG transitions. Yes.

Snapshot votes

#### Triggerable Withdrawals Framework in the Lido Protocol #

Putting EIP-7002 to work in a very useful fashion. The VEB mechanism operates to my eye to expand the range of permissionlessness in the protocol, which is crucial. It reduces dependency on NO via the CL and allows parties to withdraw in a more autonomous fashion.

Easy Track Factories for Curated and sDVT to aid in exit requests seems necessary.

The TW limits seem sensible and well reasoned out For.

#### CSM v2 Final Rollout

I really like the idea of identifying community stakers and giving them benefits, but the Community Stakers Identification Framework stands out to me as quite detailed. I wonder if it is both onerous on those who manage it and those who try to adhere to it to join the CSM. I would just suggest that there could be loosening of some requirements here and still effectiveness. I am generally of the view that in our industry we should try and minimise demands on users, even quite specialised ones, where possible. This is a general tendency I see in anti-Sybil resistance, where we become a little over-zealous to stop bad guys by making good guys do quite a lot of extra work.

The new types, the increase and the MEV budget all seem sensible.

For.

4 Likes
24

# Nethermind → Twinstake Validator Operations Migration

The LNOSG reports no issues with this transition and the team is highly responsive to the posted concerns on the research forum, such that I am satisfied this should go ahead.

Vote #191

This vote is to ‘Fix for the Dual Governance RageQuit mechanism’ as identified by Immunefi recently. The fix is Certora and Statemind (and it OZ also posted an analysis on the forum). This is a necessary fix for the relatively recent DG upgrade and so a no-brainer FOR. With thanks for Immunefi for spotting the bug.

1 Like
25

Lido v3

Strongly support Lido v3 as getting us closer to the GOOSE-2 vision. There is an important conceptual shift here from pool to infrastructure, an expansion of the product.

I am definitely excited to see stVaults in the context of the expansion of options it provides to the end user. I recently showed my students the Lido home page, which I do every year, and this year the shift in options is highly apparent. The retention of the Core Pool is sensible (I myself am a bit vanilla and will likely be a v2 type).

The 3%-30% jump caught my eye but I see no major concerns among commenters or security folks. ‘subject to risk assessments and governance processes’ - I am happy so long as we are kept up to date, especially with the risk mitigation.

Excellent work.

stVaults Committee

I think it is just good sense to have an oversight-style committee with Easy Track flexibility until ideally it is no longer needed. The analytics dashboard is a nice touch.

A small note. Lido appears to have many committees, many multisigs and there must be quite a lot of overlap among them. I wonder if at some stage we should look into this from a security perspective. I do also wonder sometimes about workload creep. Multisigs mean more devices, means more security, means more to track and document. There is a mention here of automation, perhaps to be explored.

CSM v2

I reiterate my point that the the Community Stakers Identification Framework appears somewhat over-engineered for both those who have to manage it and those who must do it.
As I have said before ‘This is a general tendency I see in anti-Sybil resistance, where we become a little over-zealous to stop bad guys by making good guys do quite a lot of extra work.’ But if those on the front line are happy then perhaps I am over-thinking it.

The the CSM stakeShareLimit increase to 5% is well-justified here. Onwards to 10% in the future!

Small note: another committee!

NEST

I admit this one had gone under the radar for me but appears to be something that should help address concerns from LDO holders that they get overlooked. More of this!

Apologies for the lack of links. This update was written while on a trip.

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