[reWARDS] September '22 Budget

September Budget Post

Welcome to the September 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

We are attempting to make data sharing and general overview more efficient. We will be providing a higher level table of networks over time and a .CSV with the specific pools by network and platform. Please provide feedback if this data can be improved.

We are still planning to build out a public facing site with contract addresses, txn hashes and more for auditing (bandwidth, volunteers? We have grants).

Please let us know how we can make these monthly budgets more useful!

Budget and Breakdown

The September budget calls for 4,937,681 LDO. (Actual 4,488,801 + 10%)

Remaining budget from August: 457,313.75420395 LDO

Requested budget: 4,500,000 LDO (Budget Call - Remaining, rounded)

To be distributed across the following pools and networks with the buffer of 446,930 LDO held for unaccounted needs during the month.

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

An detailed CSV is provided (published as a google drive link):

Sept rewards budget.csv

Reasoning and Analysis


Lido on Solana grew by almost 40% from last month. Spend is effectively stable while AUM has been in growth mode again.
Hubble and a few other pools are offering a product that appears to have good fit.

The referral program appears to be creating postitive feedback loop. We will be launching a few new dashboards this month. :crossed_fingers:

Reasoning for remaining funds: to be detailed asap


We are still exploring the Balancer bribe data. It is appearing to be arbitraging down, multiple partners, paths, and timing considerations make it harder than expected.

Reasoning for remaining funds: to be detailed asap

L2 - Arbitrum & Optimism

We have received our audit back but are still working through some final technical checks. We will hopefully be deploying this month.

Kusama (KSM)

No updates.

Polkadot (DOT)

New dex(s) to launch. Beefy is launching late in August so will cover Sept.

Reasoning for remaining funds: to be detailed asap

Polygon (MATIC)

Aave is in development and we should have updates shortly.

New analytics dashboard tracking protocol growth.

stMATIC is growing nicely and was able to achieve 1.40% of MATIC stake. We are continuing to explore new protocols while we finalize the oracle situation. We will be starting to explore bridging wstETH into Polygon as well, timeline still TBD.

Testing out some new pools this month on a new dex.

New Experiments

Optimization is proving more complex than expected but we are getting the foundational data in place. https://research.lido.fi/t/an-update-on-rewards-v2/2797.

Operational Goals

The main priority in September is completing V2 and start using that to inform decisions in quickly.


Update for Solana:

We just launched our integration on Kamino protocol and plan incentives for September for stSOL-SOL vault 10 000 LDO.
It is addition to the current budget.

How is the distribution of rewards between curve and balancer pools decide. Is there any allocation model being optimised for ? Also are the incentives run alternatively to prop up the liquidity on both protocols or how is it being modeled.

@carvas has been working with @Chuck on this and can provide more context.

Update for IDLE in September, missed adding them to the budget sheet.

30500 LDO is requested based on 7-day TWAP and their TVL as agreed upon in the D2D proposal: D2D collaboration proposal: Idle <> Lido - 🧩 Protocol & DAO - Idle

This is covered by the buffer so no additional LDO are requested.

Update for Solana:

For Friktion stSOL vault we have corrections:

instead of 2500 LDO indicated in budget we plan 5000LDO for Septmeber and expect significant growth as yesterday we launched staking+deposit option within Friktion dapp.

Hello community!

Just an update on Polygon budget for September. Actual spend was 440.801.
Reason for it was as follows:

1.) Balancer pool migration (due to a code bug) so Beefy vault was not topped up
2.) Quick Swap pool migration to v3 so Beefy vault was not topped up
3.) Kyber vault on Beefy did not launch in September as predicted
4.) MeshSwap pool deployment is waiting for incentives contract deployer
5.) Idle finance is still under development and will be released in October
6.) StableFi was not funded and is waiting for BizDev sync
7.) QiDao pool for stMatic-QI did not get deployed

This equals to 194k LDO emission reduction.

For the transparency, we took 15k from Idle budget and pushed it into Balancer bribes so September actual is 75k LDO on bribing side.

Thanks for understanding and your support!