GOOSE 2024 cycle: Lido DAO goals for 2025 (Snapshot)
Summary:
The GOOSE 2024 proposal aims to establish Lido DAO’s goals for 2025 by adopting Hasu’s GOOSE-2 Submission. Hasu’s submission emphasizes creating a robust market for validators, expanding the product line for Lido’s staking ecosystem, and aligning governance strategies with LDO token incentives to ensure sustainable growth.
Vote: Adopt Goals
Rationale:
We generally agree with the overall direction of Hasu’s proposal, and thus voted for this proposal.
However, we still have a concern regarding the main focus of goal #1, Strengthen LDO’s Role in Governance.
We acknowledge the importance of strengthening alignment across the DAO through revisions to the LDO token design.
But given the presence of other challenges and the likelihood that implementing changes to the LDO token design will take considerable time, we do not believe it should be prioritized as the most critical theme in governance at this stage.
Should Alchemy continue in SDVT and LoP following the acquisition of Bware Labs? (Snapshot)
Summary:
The proposal suggests permitting Alchemy to continue Bware Labs’ node operations in Lido following the acquisition.
Vote: FOR
Rationale:
We do not see any reason to discontinue their operation because
- As communicated by LNOSG, they have evaluated that the transition will be smooth and without issues.
- Bware Labs itself announced the continuity of its operational structure after the acquisition.
Should Nansen continue in SDVT following the acquisition of Stakewithus? (Snapshot)
Summary:
This is the vote to allow Nansen.ai to maintain node operations in Lido on Ethereum Simple DVT unchanged following its acquisition of Stakewithus.
Vote: FOR
Rationale:
Similar to Bware Labs’ case, we do not see any reason to discontinue their operation because
- As communicated by LNOSG, they have evaluated that the transition will be smooth and without issues.
- Its operational structure after the acquisition will be the same as before the acquisition.
Should Pier Two continue in the Curated Module Set following the acquisition of Numic? (Snapshot)
Summary:
The Lido Node Operator Sub-Governance Group (LNOSG) proposes allowing Pier Two to continue as a Node Operator after acquiring Numic, despite previous security incidents. Pier Two would first conduct a trial run on the testnet and, upon successful completion, gradually ramp up operations on the mainnet.
Vote: FOR
Rationale:
We voted for this proposal, because
- Even when an incident has occurred, it is proper to take corrective measures and gradually resume operations.
- This principle remains universal, even in the case of acquisition.
- By thoroughly testing through a trial run on the testnet, a certain level of safety can be ensured.
That being said, we believe it’s worth regularly reviewing and discussing the possibility of replacing curated NOs — not just those with prior incidents — to neutrally consider if there are other NOs more suitable for the curated set.
Reevaluation of Lido on Polygon state (Snapshot)
Summary:
Faced with challenges like limited growth and low adoption, the proposal suggests two options:
- conduct a comprehensive analysis and adjust the fee structure for Lido on Polygon at an estimated cost of $1.5 million,
- proceed to sunset the operations by mid-2025, allocating $100,000 for technical maintenance and user support during the transition
Vote: Sunset Lido on Polygon
Rationale:
- The future direction of the Polygon POS chain, especially its position within Polygon’s AggLayer, is unclear.
- Growth is difficult due to factors beyond the control of Shard Labs and Lido DAO.
- Instead, the entire Lido DAO could focus on businesses that leverage stETH, which has some huge advantages in the market.
Establish the Network Expansion Committee (NEC) (Snapshot)
Summary:
This proposal seeks to establish a Network Expansion Committee (NEC) within Lido DAO to streamline and formalize the process of expanding (w)stETH tokens to new networks. The NEC would have the authority to recognize bridging endpoints and token denominations as canonical, enhancing efficiency without sacrificing security or transparency.
Vote: Approve NEC
Rationale:
With a high degree of operational maturity, it is reasonable to improve efficiency through the introduction of an optimistic governance process. As a participant in governance, we support this proposal and will carefully monitor to ensure that the committee functions correctly within this framework.
Vote #181 (Onchain)
Summary:
This is a comibined vote of 3 topics below.
-
Change Easy Track limits for PML & ATC
The Easy Track limits for two multisig addresses within the Lido Contributors Group (PML & ATC) are being updated to reflect the changing funding needs and token redistribution requirements. -
TMC-4: Increase Stonks execution limits
This proposal aims to increase the stETH-to-stablecoin conversion limit from 9,000 to 12,000 stETH, ensuring Lido maintains sufficient stablecoin reserves for operational needs through an automated and non-custodial process, while minimizing risks and operational overhead. -
Simply Staking Node Operator Reward Address change
This is the proposal to update the reward address of a node operator in the curated module, Simply Staking.
You can find more detail of this vote #181 here.
Vote: Yes
Rationale:
-
Change Easy Track limits for PML & ATC
We support this proposal as having flexibility in budget limits is reasonable. That being said, we feel the scope of approval may be overly generous compared to current operational requirements. -
TMC-4: Increase Stonks execution limits
The proposed change appears to be a reasonable decision to improve operational efficiency, especially given that no issues have arisen with Stonks so far. -
Simply Staking Node Operator Reward Address change
We have reviewed this proposal and found no issues, including any discrepancies with the specified address.