[reWARDS] October '22 Budget

Welcome to October’s budget. I’ve recently joined the reWARDS committee and started helping in the respective operations which is the reason I’m publishing this month’s budget.

Details are below. This proposal will be open for community feedback for 3 days (72 hours). After which, if there is no contention, will be acted upon.

Updates for each month will be provided in the corresponding monthly threads (this one).

The sections are as follows:

  • Operational updates
  • Budget and breakdown
  • Reasoning
  • New experiments
  • Operational Goals

Operational Updates

Attempting to make data sharing and general overview more efficient, we’re still providing a higher level table of networks over time and a .CSV with the specific pools/integrations by network and platform. We appreciate any feedback on new ways we could present this!

We’re also starting to build the public facing page with contract addresses, organized txn hashes and more information for auditing and transaprency.

Budget and Breakdown

The October budget calls for 4,308,700 LDO. (Actual 3,917,000 + 10% buffer)

Remaining budget from September (unspent and left in the different multisigs and usable for October spend, rounded to thousands):

  • Solana: 110k LDO
  • Ethereum: 213K LDO
  • Polygon: 194k LDO
  • Moonbeam (Polkadot): 5k LDO
  • Total: 522k LDO

Requested budget: 3,800,000 LDO (Budget Call - Remaining, rounded)

To be distributed across the following pools and networks with the buffer of 405,000 LDO held for unaccounted needs during the month.

The colors correspond to an increase or decrease of LDO for the month.

A detailed CSV is also provided here.

Reasoning and Analysis


After launching an stSOL-SOL pool in kamino.finance we almost reached 1.5M TVL within just 3 weeks.

We also started incentives for Friktion in September and already have good traction and TVL growth.
stSOL was also listed in the Jet Protocol.


The trading ratio between stETH and ETH has been greatly restored post merge and is now (at the time of this writing) back above 0.995. This significantly reduces slippage for stETH users wanting to get in or out of their positions.

Furthermore, the TVL of the curve stETH/ETH pool (where stETH’s deepest liquidity is) has almost doubled over the last two weeks, since the merge.

For these two reasons, in October’s budget we’re proposing to reduce spend on the main curve pool by 500,000 LDO (20%). We believe this will have a low impact in maintaining deep liquidity and low slippage for stETH on Ethereum.

This past round we also started exploring vlAURA bribes while balancing them with the veBAL ones we had already been doing.

In October we aim to experiment again on bribes by adding a new platform to the mix. We will provide data and information on these experiments over the next few weeks.

L2 - Arbitrum & Optimism

The wstETH bridges for Arbitrum and Optimism have now been enabled which is the reason why the requested budget for these two networks has been kept the same. Pools will hopefully be live in October.

Kusama (KSM)

No updates.

Polkadot (DOT)

New dex(s) still to be launched. Considering Beefy rewards for some of pools.

Reasoning for remaining funds: new DEXes pools not ready yet

Polygon (MATIC)

stMATIC is now listed and usable as collateral on Aave v3.

A list of updates on September’s spend, new integration experiments and new pool delays is available here: link

Furthermore, October will serve as a month for accessing performance and then directing or cutting allocations based on that.

New Experiments

We’ve ramped up the analytics help for reWARDS optimization, started the Aura bribes, will start testing elasticity with incentives reductions and will start testing a new platform and model for bribes.

Operational Goals

The main priority is now to improve the processes for managing reWARDS and to have deeper analytics for optimization.


Hey all - this is Ivan with some Lido on Solana budget corrections:

  • for Aldrin we have mistake: instead of 7500LDO incentives for pool stSOL-wLDO we need allocate them to stSOL-USDC pool

For Kamino/Orca :

  • we will keep 2500LDO on Orca for stSOL-USDH pool

  • as we plan to launch new pool on Kamino for stSOL- USDH with additional 2000LDO

And we expect total TVL growth out of that up to 700K$

1 Like

Can you please check Orca farm rewards, seems to be some inacuracies for stSOL-ETH/wstETH pairs october numbers

1 Like

Thanks for your help - will review and correct

Any incentives for Univ3 wstETH-ETH, stMatic-Matic pairs?

Un iv3 may be the most effective way to trade stable pairs, and charge merely 0.01% trading fees.

For Orca we have 25% more compare to budget for October as we need to cover additional week to fit next topup in time (they have 28 days rotation period)

So instead of 76 500 LDO(for 28 days) we will send 95 625 LDO (for 35 days)

Currently no but might be in near future as we’re in talks with partners how to execute this.

An update:

The original csv file had some inaccuracies, especially in terms of some rows having weekly spend numbers not match their respective monthly numbers. Thanks @KarolisDefi for pointing out!

An updated and corrected file is now available above.

In terms of overall network budgets, everything is the same as the original request for every network, except for ethereum where a total of 30k LDO were missing from the original budget for Idle Finance. This is well under the buffer so no changes in request are needed - mentioning it for transparency.

As always, appreciate the very useful feedback given!


An update to October budget:

Based on bribes efficacy analysis, the Committee shrinks the veBAL bribe for the week of October 24th by 5k LDO. The total bribe for wstETH/WETH gauge on that week will be 10k LDO with a plan to stop depositing bribes on the ‘weak’ weeks - the ones when Aura doesn’t participate.



Just a short update on the October budget for Polygon.

Sadly Aave incentivisation is still not ready and will be moved to November.
MeshSwap deployment was canceled.
Satin DEX delayed launch for cca. 4 weeks.

Portion of this 60k LDO allocation was used for:

BrahmaFi 15k LDO
0vix 10k LDO