SEEDGov Delegate Thread

Delegate Platform
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Delegate Introduction

Name: @SEEDOrg

Wallet Address: 0xc1c2e8a21b86e41d1e706c232a2db5581b3524f8

RRSS:

Our delegation is excited about the opportunity to join Lido Governance, where we hope to contribute significantly to the leading liquid staking protocol in the ecosystem. We’ll do so by maintaining active and meaningful participation with a dedicated team backed by the entire SEEDOrg and ad hoc consultants.

What is SEEDGov?

SEEDGov is a dynamic and evolving vertical within the SEED Org ecosystem, dedicated to shaping the future of decentralized governance in the web3 space through active participation, community engagement, decision-making and experimentation. Our approach stands for minimizing governance where appropriate and professionalize it where necessary.

We are the first Latam based Delegate Platform actively engaging in various governance activities. Rooted in community values, we’ve shifted from educational models to a participatory approach, driving a new chapter in how individuals collaborate, coordinate, and decide in the ever-changing landscape of Web3.

Our scope of work across various projects and protocols includes managing grant and allocation programs, designing and implementing governance infrastructure, creating and overseeing incentive programs, and onboarding builders to align with protocol needs.

How we work

As a professional delegate platform SEEDGov collaborates with communities and partners to ensure credible representation of all interested in Web3’s future. Since its inception, SEEDGov has advocated for critical thinking through education. We do not endorse scams or collaborate with blockchains, projects, or protocols that are not aligned with our core values.

The members selected to be part of our delegation will collaborate both directly and indirectly with other SEEDGov members. Any decisions made by this delegation regarding governance will be thoroughly discussed and communicated to all stakeholders through our discussion channels and properly executed through specialized units.

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SEEDOrg>SEEDGov>Lido

Participation in forum discussion threads and daily activities represent the opinions of SEEDGov and collaborators in their efforts to stay up to date with their roles. Our delegation will do its utmost to represent and embody our values to enhance Lido’s governance:

  • Decentralization: As Lido DAO’s purpose is to “keep Ethereum decentralized, accessible to all, and resistant to censorship”, all of our initiatives and proposals will align with these same principles. Along with this position, and as the ecosystem continues to mature and be driven by its community, we will collaborate in the creation, iteration, and improvement of governance processes to ensure broader participation and that the system remains secure.
  • Community-Led Growth & Sustainability: We will promote and support all initiatives that enable the growth, adoption, scalability, and innovation of Lido’s ecosystem. Our focus will be placed on ensuring that all growth initiatives are reliable, secure, and sustainable over time. We are willing to undertake “protocol activism” regarding Lido’s significance in the web3 ecosystem and our alignment with its guiding principles. We intend to focus and try our best efforts on onboarding and educating stakeholders, as well as advocating for Lido within the broader blockchain and DeFi communities.
  • Security: We will always make sure that no DAO decisions will jeopardize the security of the protocol and thus harm users.

Our case

Lido’s innovative infrastructure has revolutionized staking by lowering barriers and boosting the entire crypto ecosystem. Its user-friendly design and elimination of asset locking have propelled Lido to hold ~30% of the ETH staking market. This positions Lido’s future developments and challenges as potential tipping points for the entire ETH landscape. Being part of this space will enable us to be informed and continue understanding, building, and participating in the following verticals (among others):

  1. Governance: The proposed Dual Governance framework -dynamic timelock and rage quit mechanisms- offers a promising balance between wstETH stakers and other stakeholders, ensuring an effective system of checks and balances and strong incentives alignment, representing LDO holders and protocol users’ interests. However, in search of achieving governance minimization, the social layer will remain a critical instance of the collective decision-making and consensus-building process, where a deep understanding of Lido will play a crucial role. Addressing and arbitrating potential disputes and misalignments between the different stakeholders is something that SEEDGov can help.
  2. Alliances: We consider that the recently approved Lido Alliance framework comes as a solution in line with the current trends in the web3 ecosystem, effectively balancing efficiency and scalability. Allowing the community to decide on these partnerships ensures both transparency and tangible impact in the decision-making process. At this point, we can’t envision another solution that wouldn’t risk fracturing our ecosystem. SEEDGov consistently conducts research and maintains a global, comprehensive understanding of the DeFi ecosystem, enabling us to evaluate and assess potential partnerships for Lido.
  3. L2 Expansion: From SEED we’re highly committed to advancing Lido’s mission of making staking simple, secure, and accessible to everyone. We consider that continuing to integrate wstETH native minting on diverse L2 ecosystems, including various rollups, can drive adoption and liquidity, enhancing an interconnected DeFi ecosystem. More presence on L2 protocols will enhance the overall UX, encouraging more users to stake their ETH and participate in Lido’s ecosystem.

Disclosure

SEEDGov is a broad organization that not only encompasses communities in Latam, but also has high participation in some of the most prominent governances in the ecosystem such as Optimism, Arbitrum, Uniswap, Gnosis, Starknet, Everclear (Connext), and Maker. As mentioned above we come to Lido Governance to bring value, in case there is any conflict of interest, we will communicate it to the community members.

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Hello! We’ll be posting our votes and rationales in this thread! For the latest round here are our standings.

LIP-22: stETH on L2 — wstETH on Optimism bridge endpoints upgrade

Votes: YES

Rationale: In light of Lido’s vision and reGOOSE goals, we are supportive of this proposal towards further L2 integrations, specially with one as OP.

[EGG] st2024 v2: Continuity Grant Funding to Achieve GOOSE Goals

Vote: YES

Rationale: We are supportive of the current proposal in sight of the ongoing work towards reGOOSE goals and to the CLIs labor. Nonetheless, we disclaimed that expenses should be transparent and monitored by the community.

[EGG] Establishing the Community Lifeguards Initiative (CLI) Sub-Committee

Vote: YES

Rationale: The CLI initiative is key within the unfolding of Lido’s goals and its support to new joiners while fostering an engaged community. All community calls and instances of participation are welcomed and necessary.

The Decentralized Validator Vault

Vote: YES

Rationale: Within the expansion of the SDVT module, having a focal point to streamline funds and incentivize stakers is certainly a step in the right direction.

Appoint Entity to Respond to Pending Class Action Litigation Against Lido DAO

Vote: YES

Rationale: Risks presented are compelling enough for this proposal to pass. The fact that a default judgment may occur anyway demands for taking action demands in order to minimize this possibility.

Vote #175 Expanding the Simple DVT Module

Vote: YES

Rationale: We support the expansion of the SDVT and its incentives to solo operators.

Vote #175 Lido Contributors Group Funding

Vote: YES

Rationale: As being part of EGGv1 we support the proposal in order to continue operations.

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Vote #176 Expanding the Simple DVT Module

Vote: YES

Rationale: As thoroughly presented the expansion of the SDVT is largely backed by it’s results. We are are more than happy to support the proposal once again.

Vote #176 Lido Contributors Group Funding

Vote: YES

Rationale: Supporting the initiative in order to mantain the protocols development and mantainance.

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Should the Lido DAO recognize the wstETH Bridge Endpoints on Mode as canonical?

Vote: Recognize

Further involvement in OPs ecosystem is aligned both to previous proposals we’ve supported and a necessary step towards addressing the fragmented liquidity issue our ecosystem faces. It’d be interesting to take a closer look at Mode’s accelerator program and the value brought to it by including wstETH.

Should the Lido DAO recognize the wstETH Bridge Endpoints on BNB as canonical?

Vote: Recognize

Rationale: As per the accomplished audits and the passed tempcheck we’ll vote for the recognition in what’s another key expansion for the protocol.

Decision on Rated Lab’s position in the Oracle set: rotate or remove and change the quorum

Vote: Rated Labs → MatrixedLink

Rationale: As an already onboarded partner MatrixedLink should be a good fit for the role while keeping the quorum composition which was already debated in the expansion.

LIP-25: Staking Router v2.0

Vote: Yay

We support improvements to the Staking Router and particularly in its aim to support the CSM. Having the DSM automated and apart from governance did raise some questions but getting to an ossification point is welcomed and speaks of the protocols maturity on this end.

Establish a Public Delegate Platform and Delegate Incentivization Program

Vote: Approve platform and incentives

As we mentioned in the post, we are thrilled to support this proposal. The framework itself seems consistent as per conditions and requirements and the rally will give a fair shot for everyone to participate in the pilot.

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Updating our delegation post with Public Acceptance of the Lido DAO delegate Сode of Сonduct (link) and alignment with Lido’s Vibe (Purpose, Mission, Vision)

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Vote #177 Replace Rated Labs with MatrixedLink in Lido on Ethereum Oracle set

Vote: YES

Rationale: As mentioned in the Snapshot vote, having an oboarded member should be adequate for the role.

Vote #177 Rename Node Operator “CryptoManufaktur” to “Galaxy” and update the reward address

Vote: YES

Rationale: No major comments

Vote #177 On-Chain Delegation

Vote: YES

Rationale: We support this is as it’s a major step towards increasing participation, ensuring quorum and keeping governance active and healthy. The expected increase in VP outlined in the Snapshot vote seems reasonable given Lido’s relevance in the ecosystem, the efforts towards community engagement and the recent delegate’s framework.

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Vote #178

Vote: YES

Rationale: As per described on initiatives on Vote #177

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Organize the Lido Alliance Program as a Lido-DAO-Adjacent BORG

Vote: Approve the Lido Alliance BORG

Rationale: We’ll be supporting this proposal in the best interest of the protocol and on the basis of the experimental ground that cryptolegality is, which of course is battle tested under circumstances that no one desires. The nuances of the relationship between the DAO and the BORG (and within DAOs itself) are extensive and the overall role of the DAO in this framework is yet to be seen although requesting information and reporting should be expected within the actions.

Aside from that, kudos to Delphi Labs for such an elaborate proposal and more so for the Assimilating the BORG paper which perfectly condensed the state of the art on the matter!

Should Galaxy continue in the Curated Set after the acquisition of CryptoManufaktur

Vote: FOR

Rationale: If material, human and geographical conditions are kept within any given ownership change there shouldn’t be any concern for keeping operators in the module.

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Lido Community Staking Module Mainnet release Setup

Vote: Approve CSM Mainnet release

Rationale: We believe this is an important step toward true decentralization and security for Ethereum. Allowing more independent node operators to join not only diversifies the network but also strengthens the community by enabling broader and more direct participation.

We’re familiar with the team behind this initiative through their previous contributions to the Lido and Ethereum ecosystems, such as Ethereum-validators-monitoring and Lido V2. Their experience gives us confidence that the CSM will be successfully implemented and will benefit all participants.

We especially appreciate that the CSM includes measures like the requirement of an economic guarantee. This ensures that node operators are aligned with the network’s interests and that the system’s integrity is maintained. We believe this not only enhances security but also promotes a culture of responsibility and commitment within the community.

For these reasons, our vote is "Approve CSM mainnet release”. We’re convinced that this proposal will benefit the staking community and contribute to the sustainable and decentralized growth of Ethereum, and we look forward to seeing the positive impact it will have on the ecosystem.

Change Easy Tracks Limits for PML and ATC

Vote: Support the change

Rationale: We support the change as it stands for an operational requirement and being framed within the already voted EGGv2 budget.

Increase the proposal threshold for Snapshot

Vote: Do nothing

Rationale: We won’t support the proposal since we consider the proposed solution doesn’t necessarily address the presented concern. Although spam proposals can be troublesome, Snapshot’s monitoring service has been pretty effective in keeping them aside, and the 2hs maximum delay is reasonable given the current activity and voting calendar which mitigates potential risks associated. On the other hand, raising the threshold limit has implications regarding participation and governance which right now are trying to be enhanced within Lido and this might act as a pushback.

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Vote #179 - Upgrade wstETH on Optimism bridge endpoints to enable rebasable stETH on Optimism alongside wstETH

Vote: YES

Rationale: We’re happy to support this upgrade on it’s efforts towards a more integrated ecosystem.

Vote #179 - Add Easy Track setup for funding the Lido Alliance Operational Multisig

Vote: YES

Rationale: As stated in the off-chain vote, we are supportive of the BORG framework for the Lido Alliance within the specifications described in the proposal as well as lex-node comments .

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Lido Alliance application: Bolt

Vote: Onboard Bolt to the Lido Alliance

Rationale: With preconfirmations being part of the reGOOSE as well as the Lido Alliance wishlist, we’ll support the onboarding of Bolt to the Lido Alliance. Token allocation seems reasonable although the 90% threshold might seem high in order to receive the full KPI grant allocation but we’ll see upon its implementation. Also, this will be the first BORG use case so we are expecting to see how the overall framework unfolds.

Integrate CSM into the Decentralized Validator Vault

Vote: Yes, vote for the integration

Rationale: The inclusion of the CSM to DVV is a step towards attracting the best validator set and deepening its decentralization. The DVV has already proven effective to collect and streamline funds so the CSM, alongside solo and community stakers, will surely benefit from this integration. The considerations regarding the incentive rates showcase the importance of not having modules competing with each other but rather generating a virtuous cycle on which all parties add and receive value.

Should the Lido DAO recognize the wstETH bridge endpoints on Zircuit as canonical?

Vote: Recognize

Rationale: We support what is another Lido expansion throughout the ecosystem. Although, adding to @polar, it’d be interesting to check specific motivations or pinpoints that make this one - or anyone - particularly relevant.

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#Vote 180 Staking Router and related contracts upgrade

Vote: YES

Rationale: As we voted in LIP-25 we support the v2.0 of the Staking Router in it’s comprehension of the CSM and by having succesfully passed the security audits. As mentioned, having the Deposit Security Module (DSM) away from Easy Tracks sounds reasonable as it fulfills an operational need more than a governance decision itself.

#Vote180 Add Community Staking Module to the Staking Router

Vote: YES

Rationale: As proud participants of the CSM we’re more than excited to favourably vote this proposal in what is a trully huge milestone for both Lido and Ethereum ecosystems!

#Vote180 Rotate the Instadapp Oracle address

Vote: YES

Rationale: As an operational action there no reason not to support the proposal.

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GOOSE 2024 cycle: Lido DAO goals for 2025

Vote: Adopt goals

Rationale:

First of all we just want to recognize the value of GOOSE in outlining Lido’s MVP, which has recently been acknowledged in Arbitrum in a similar fashion exercise and has proven value in igniting these strategic conversations. Although GOOSE + EGG can become rather rigid frameworks which at some point can be counterproductive in light of swift changes within the ecosystem, we stand by that trade-off and the productive exchange in the forum we’ve been following closely.

Regarding the specific goals:

Goal #1: Lido Has Effective and Decentralized Governance

With the expected windtail it is extremely important to discuss the role that LDO will play moving forward. Dual Governance has already set the ground for aligning stakers and Simple Delegation was the first run on having a formalized set of delegates. The outcome of the DIP program should give some insights on what aspects can be improved moving forward but quorum numbers for this level of activity sure are encouraging.

Nonetheless, if that windtail materializes and translates into activity, there should be enhanced rails for bootstrapping governance contributions such as expanding on the DIP or outlining a different program to that end (Unistaker and the recent ARB Staker proposal are good benchmarks to start the conversation). Turning the fee switch could contribute but its implications need to be thoroughly assessed beforehand and in sight of very different $LDO scenarios. A thorough research on the matter would be a logical first step for this.

Goal #2: Lido Attracts the Best Validator Set in the Market

We think that having a validator marketplace adapting to specific profiles suits naturally within Lido’s MVP and serves the purpose of the Staking Router. The integration of the CSM to the DVV is a great example of the nuances that operators face and how the market must adapt to attract validator activity so we’re looking forward to expanding on those strategies while scaling the current modules.

Goal #3: stETH Is the Most Used Token in the Ethereum Ecosystem

The Lido on Polygon vote showcased that expansions can have drawbacks but it’s imperative for Lido to adapt into what comes next. Efforts should be placed towards attracting ETFs on the base of Lido’s resilience and market share which by no means should be undermined despite the LST/LRT scenario presented.

Reevaluation of Lido on Polygon state

Vote: Sunset Lido on Polygon

Rationale: We believe that the presented layout is compelling enough to vote for the sunset of LoP. Although done in good faith and probably timely at the moment, it is clearly stated that the financial outcome didn’t match the DAOs expectations which are now further away from expanding to other ecosystems.

Should Nansen continue in SDVT following the acquisition of Stakewithus?

Vote: For

Rationale: Voting as per LNOSG’s judgement regarding non-identified material changes in operations.

Should Alchemy continue in SDVT and LoP following the acquisition of Bware Labs?

Vote: For

Rationale: Voting as per LNOSG’s judgement regarding non-identified material changes in operations.

Should Pier Two continue in the Curated Module Set following the acquisition of Numic?

Vote: For

Rationale: Voting as per LNOSG’s judgement on accounted improved practices and the trial run on testnet before going to mainnet.

Establish the Network Expansion Committee (NEC)

Vote: Approve NEC

Rationale: We adhere to having streamlined operations for network expansions in a somewhat optimistic governance framework that the DAO can override if considered. Based on the LoP sunset, it’d be of use if the NEC could provide financial and overall ecosystem status within its reporting.

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Vote #181 Change Easy Track limits for PML and ATC

Vote: YES

Rationale: As voted on the Snapshot proposal, we’ll support to change the Easy Tracks limits based on the updated cashflows for both PML and ATC while being framed within the EGGv2 budget.

Vote #181 Increase the Lido Stonks stETH limit to 12,000 stETH to achieve TMC-1

Vote: We support the proposal which allows for securing stablecoins runway in order to cover operational expenses.

Vote #181 Update the reward address for Node Operator ID 16 (Simply Staking)

Vote: YES

Rationale: No reason not to support this as it stands as an operational vote.

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CSM: Enable Permissionless Phase and Increase the Share Limit

Vote: FOR

Rationale: Another huge milestone for the CSM which we are more than happy to vote favourably and with all the risk considerations being made.

Lido Alliance Grant Proposal

Vote: FOR

Rationale: The Lido Alliance is set to be the spearhead of Lido’s expansion so we are excited to support this proposal and see the work that has been done so far as well as what’s in the pipeline. As we mentioned, Lido’s expansion is a core component of GOOSE 2 and the recent LoP events have put this even more on spotlight for which we recognize @Nemo’s receptiveness.

[EGG] Multi-EGG Continuity Grant Funding

Vote: FOR

Rationale: We support this grant request as it’s directly tied to core operations and GOOSE. Also we celebrate all of the engagement regarding reporting, nomenclations and transparency, which speaks of the interest and involvement of delegates and community so hoping to see those suggestions come through for next rounds.

Extend On-Chain Voting Duration

Vote: Extend duration

Rationale: We support the proposal being aware of the presented trade-offs and in sight of the contributions this could drive to participation and ensuring quorum. Considering the given level of activity and high involvement from the team, this extension should be nothing but beneficial for the DAO.

Update Lido on Ethereum Standard Node Operator Protocol - Validator Exits

Vote: FOR

Rationale: We support the proposal in order to have the SR 2.0 up to date with all of the improvements of Lido’s modules.

#182 Change Easy Track limits for PML and ATC

Vote: For

Rationale: As per voted in the Snapshot and the #181, we support the operational change represented on this vote.

#182 Increase the Lido Stonks stETH limit to 12,000 stETH and reset the spent amount

Vote: For

Rationale: We support the proposal which allows for securing stablecoins runway in order to cover operational expenses.

#182 Update the reward address for Node Operator ID 16 (Simply Staking), as requested on the forum (item 5).

Rationale: No reason not to support this as it stands as an operational vote.