Update: The Snapshot vote is now active here.
The following is a proposal for a distribution of 3% of the total LDO supply (30,000,000 LDO) to a collection of strategic partners.
This is an extension of the recent LDO Treasury Diversification proposal centered around Paradigm, with these 3% acting as a part of the 10% of the previous proposal.
This proposal is intended to solidify Lido’s position as the leading liquid staking solution in the DeFi space, allowing us to grow further through collaboration with a group of strategic partners.
The partners included within this proposal include the following:
Institutional - 26M LDO / 5576 ETH
- Three Arrows Capital
- DeFiance Capital
- Jump Trading
- Alameda Research
- Dragonfly Capital
- Delphi Digital
- Robot Ventures
- Coinbase Ventures
- Digital Currency Group
- The LAO
Angels - 4M LDO / 904 ETH
The angels below wish to participate in this governance token distribution event. All of them would be valuable DAO members, and some have asked to remain pseudonymous given privacy concerns. The list is sorted alphabetically, not in order of value or distribution amount:
- 0xMaki from Sushiswap
- Alexey from cp0x.com
- Ameen Soleimani from SpankChain
- Derek Hsue
- Divergence (Calvin Liu + George Lambeth)
- Elias Simos from Bison Trails
- Eric Wall
- Ethereum researcher #1
- Ethereum researcher #2
- Fernando Martinelli from Balancer Labs
- Devops199fan from Saddle
- Ivan Golovko
- Jinglan Wang, co-founder of Optimism
- Larry Sukernik
- Leading strategy & global expansion on one of top exchanges
- Mariano Conti, helped create DAI at MakerDAO
- Tim Beiko, AllCoreDevs facilitator
- Viktor Bunin
- Zaki Manian from iqlusion
- A founder of a fast-growing DeFi project with extensive experience in various areas from driving innovation, growth marketing, community building, and user experience
- A security engineer with extensive experience in securing decentralised systems, close to core eth2 development.
These purchasers have been chosen for a number of reasons, specifically their expertise in the successful development of distributed protocols.
We are confident in their ability to add similar expertise to the Lido DAO and see this proposal as a net positive, should it be approved.
We jointly propose the following terms:
- 30M LDO (3% of supply) to be sold by the DAO treasury at a purchase price equal to 6,480 ETH.
- Acquired tokens will be locked with a 1-year cliff and 1-year linear unlocking schedule.
- Full voting power will be granted immediately upon closing of the sale, notwithstanding the lockup period.
All LDO tokens - locked and unlocked - carry voting power and currently about 25% of the LDO total supply is voting. As such this, together with the Paradigm allocation, does not compromise the fair decision-making abilities of the Lido DAO members.
The expertise these purchasers can contribute is unrivaled and we are of the belief that this proposal will work to significantly strengthen the position of the Lido DAO, thus solidifying our position as the leader of the liquid staking space and pave the way for continued success.
It is our belief that this will benefit the Lido DAO and we propose to finalize this transaction as soon as possible. Following this submission, we will launch a 1-day signaling vote on Snapshot to evaluate the sentiment surrounding the deal.