Lido Alliance Q1 report
Lido Alliance has been established by Lido DAO to help support, accelerate and amplify builders driven by the same vision of decentralized validation, wider stETH adoption and a universally accessible, censorship-resistant Ethereum.
The Alliance’s mandate is achieved through hands-on involvement with select projects, including product feedback and community alignment, peer reviews, co-marketing and BD initiatives, design, legal and development support, and overall a deep integration with the Lido ecosystem.
So far, Lido Alliance has onboarded three members - Mellow, Drop and Bolt, and are currently in advanced conversations with several more projects.
Below is a high-level Q1 status report from each Alliance member - as well as our contributors’ note on future expansion plans.
Mellow
Mellow is building modular vault infrastructure to let anyone create or access on-chain structured products.
Mellow’s key Q1 highlights include:
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Launch of Lido v3 vaults - allowing Node Operators to participate in Lido Finance stVaults Early Access before Lido V3 launches. There are 27 pre-deposit vaults launched at the moment, with more to follow.
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A number of new Mellow vaults launched, adding support for brand new assets - like the recently announced Resolv vault, curated by Re7.
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Deployment of new Mellow ALM v2 strategies, which include:
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Launch of Mellow interoperability solution - allowing users to delegate stake without direct liquidity transfers across various Layer 2 networks to Layer 1
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At the time of writing, Mellow vaults hold just over 81,000 wstETH in TVL, which is poised for substantial growth in the coming months - through initiatives like Lido v3 pre-deposit vaults. stETH currently clouds over all other collateral types on Mellow, accounting for 76,2% of its total TVL.
Drop
Drop is a liquid staking protocol for Interchain assets, built as an Integrated Application on Neutron.
Drop’s key Q1 highlights include:
- dATOM has become the largest LST market on Mars Protocol, with the deposit cap raised to $5.2M
- 500K $dTIA milestone reached, currently sitting at >820K $dTIA staked as of Mar 26
- deINIT announced - the first dAsset built on a staked LP position, combining staking and LP rewards. deINIT testnet has launched last month, recording over 86,000 users
- dNTRN announced - Integrated LST for Neutron, allowing NTRN staking in alignment with Neutron’s Mercury upgrade. Backed by 255M NTRN in DAO liquidity
- Droplets Phase One concluded -100M DROP (10% of supply) secured by early users; rewards locked ahead of TGE
- Droplets Phase Two launched - Additional 50M DROP (5% of supply) allocated with new badges, multipliers, and mechanics
- A number of ecosystem integrations, including Keplr, Leap wallet, Flame as well as EVM wallet support for deINIT testnet.
Bolt
Bolt is a permissionless proposer commitment protocol that allows validators to issue preconfirmations for Ethereum transactions.
Bolt’s key Q1 highlights include:
Supply-side (Validator):
- Bolt has officially reached the Mainnet Genesis release, integrating with over 30 Node Operators via symbiotic and Eigenlayer, on top of testing with over 50K validators on Holesky.
- The team has been collaborating with Lido to explore a viable path for integrating proposer commitments, and has been working on MVP that pioneers a hybrid registry model — combining off-chain and on-chain components to allow Lido validators to register into a given (proposer commitment) protocol.
Demand-side (User):
- The Bolt team has decided to reevaluate the GTM (go-to-market) and is actively assessing the best path forward. They will provide an update as soon as possible and how this will affect the overall protocol
Onboarding New Members
The Lido Alliance is currently in advanced conversations with several new protocols to join their ranks. More details on the specific projects and putting their Alliance membership up for DAO vote will be shared in the coming month.