# TMC-0: Stake all treasury ETH in Lido **URL:** \ **Category:** Proposals\ **Created:** [May 29, 2023, 8:21am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744 "2023-05-29T08:21:20Z")\ **Posts on this page:** 14\ **Page:** 1
**Author:** ![steakhouse](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/steakhouse/32/1878_2.png) [@steakhouse](https://research.lido.fi/u/steakhouse)\ **Post date:** [May 29, 2023, 8:21am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/1 "2023-05-29T08:21:20Z")
| TMC-0: Stake all treasury ETH in Lido | | | --- | --- | | | | | Strategy | Build a core treasury in productive assets that can safeguard against risks and help offset operating expenses for protocol development | | Objective | 4-6% annual yield on 20k ETH or almost $2m a year at current prices, one more month of runway | | Intended on-chain action | 1. Deposit 20,304.357 ETH in Lido for stETH 2. Deploy an EasyTrack contract to sweep Treasury ETH and deposit it in Lido | | Impact on treasury liquidity | Although still highly liquid in comparison to many ERC-20 tokens (\>330,000 ETH/stETH in Curve), objectively less liquid than pure ETH | | Execution complexity | - Minimal, requires a Lido.sol contract call from the Aragon treasury contract - EasyTrack deployment of a contract to execute ETH sweeps for the future | | Maintenance complexity and overhead | Minimal, stETH rebases automatically and accrues over time | | | | | Summary of possible risks | - Lido protocol-specific smart contract risks could compromise the value of the underlying ETH - Price volatility in relation to operating expenses could compromise the ability to continue to pay for development | | Summary of potential benefits | - Dogfooding Lido’s own ETH - Contribute to securing the Ethereum network in a decentralized liquid staking protocol | | | | | Compliance with Treasury Management Principles | Yes | | | | | Proposer | Steakhouse | | Agreement | Approved | | Perform | Steakhouse | | Input | Received | | On-chain execution stage | Executed | | | | | Other notes | If stETH\<0.98 ETH, we should buy stETH in the market instead of staking ETH directly, which may require more operational overhead | ## Poll for Treasury Management Committee Members End date 03-Jun-2023 _Poll ([view on site](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/1))_ ---
**Author:** ![kadmil](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/kadmil/32/1958_2.png) [@kadmil](https://research.lido.fi/u/kadmil)\ **Post date:** [May 29, 2023, 9:35am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/2 "2023-05-29T09:35:29Z")
Totally support the move! Would note that the ET motion factory for staking ETH is a separate development (read: won’t be readily available). I’d say the “default” implementation path would be in staking in one Aragon vote. ---
**Author:** ![marcbcs](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/marcbcs/32/2659_2.png) [@marcbcs](https://research.lido.fi/u/marcbcs)\ **Post date:** [May 29, 2023, 11:49am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/3 "2023-05-29T11:49:07Z")
In favour! Great option to generate some yield with Lido’s treasury without incurring unnecessary risks. ---
**Author:** ![Red\_Bull](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/red_bull/32/3399_2.png) [@Red\_Bull](https://research.lido.fi/u/Red_Bull)\ **Post date:** [May 29, 2023, 11:55am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/4 "2023-05-29T11:55:36Z")
Glad to see we’re finally proposing this! ---
**Author:** ![matthewlilley](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/matthewlilley/32/2701_2.png) [@matthewlilley](https://research.lido.fi/u/matthewlilley)\ **Post date:** [May 29, 2023, 7:54pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/5 "2023-05-29T19:54:42Z")
I’d hope that you’d exclude the illicit funds in Lidos treasury from this vote. If not, you might want to update the possible risks. It doesn’t seem wise to be playing with clearly attributable stolen user funds which ended up in the Lido treasury. ---
**Author:** ![ccitizen](https://avatars.discourse-cdn.com/v4/letter/c/4af34b/32.png) [@ccitizen](https://research.lido.fi/u/ccitizen)\ **Post date:** [May 30, 2023, 1:58pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/6 "2023-05-30T13:58:41Z")
Happy this finally went to vote. Supportive of this. Would like to see us pushing to maximize utility of all assets. Good job team ---
**Author:** ![nicole\_maffeo](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/nicole_maffeo/32/2416_2.png) [@nicole\_maffeo](https://research.lido.fi/u/nicole_maffeo)\ **Post date:** [May 31, 2023, 5:18pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/7 "2023-05-31T17:18:03Z")
> [@steakhouse](#): > > 98 ETH, we should buy stETH in the market instead of staking ET Glad to see this. Easy, clear upside. Hope passes ---
**Author:** ![kpk](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/kpk/32/6874_2.png) [@kpk](https://research.lido.fi/u/kpk)\ **Post date:** [June 2, 2023, 2:09pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/8 "2023-06-02T14:09:25Z")
We fully support this strategy, mainly for the following reasons: - Out of the strategies [proposed](https://research.lido.fi/t/should-lidodao-stake-treasury-eth/3869) in the past, it’s the obvious first choice: good risk-adjusted yield, especially after having withdrawals enabled and enough liquidity in the market should we decide to skip the withdrawal queue (Curve: \>300.000 ETH / Balancer: \>30,000 ETH); - Having Lido DAO depositing the entire ETH treasury holdings in its own protocol is a testament to the confidence in the technology and Node Operator set; and - It requires a relatively simple EasyTrack deployment, which feels appropriate to test TMC’s processes. ---
**Author:** ![cornelia\_lido](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/cornelia_lido/32/2959_2.png) [@cornelia\_lido](https://research.lido.fi/u/cornelia_lido)\ **Post date:** [June 9, 2023, 2:59pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/9 "2023-06-09T14:59:40Z")
Fully in support of this! Really enjoy seeing Lido leveraging its treasury to its fullest potential. ---
**Author:** ![frontalpha](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/frontalpha/32/465_2.png) [@frontalpha](https://research.lido.fi/u/frontalpha)\ **Post date:** [June 28, 2023, 4:26pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/10 "2023-06-28T16:26:56Z")
Kinda late to the conversation haha Is one more month of runway worth it? If Dai has issues(which it has) at the same time stETH has issues it might be good to have a 3rd option to pay the bills. ---
**Author:** ![steakhouse](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/steakhouse/32/1878_2.png) [@steakhouse](https://research.lido.fi/u/steakhouse)\ **Post date:** [June 28, 2023, 4:39pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/11 "2023-06-28T16:39:37Z")
For the next proposal we will introduce a framework for estimating on-hand availability of USD-tracking expenditures and proposals to continuously execute conversion from stETH to USD stables. This proposal merely asks the TMC to propose any ETH on Aragon be staked. ---
**Author:** ![kpk](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/kpk/32/6874_2.png) [@kpk](https://research.lido.fi/u/kpk)\ **Post date:** [June 28, 2023, 4:49pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/12 "2023-06-28T16:49:27Z")
TMC 0 is up for voting on [lido.vote.fi](http://lido.vote.fi/) under #[161](https://vote.lido.fi/vote/161). Thanks to those that help to post it. ---
**Author:** ![Jaroslav\_atomica\_int](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/jaroslav_atomica_int/32/3081_2.png) [@Jaroslav\_atomica\_int](https://research.lido.fi/u/Jaroslav_atomica_int)\ **Post date:** [June 30, 2023, 8:54am UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/13 "2023-06-30T08:54:25Z")
It’s funny. Because At DevCon 22, I tried to explain how to use insurance for stEth bootstrapping and stEth mass adoption. stEth/Eth parametric LSD depeg insurance can also be the additional revenue stream for LIDO DAO. But no one was willing to listen during the bull run) It’s always a bad idea to rely on only one revenue stream. Please text me if you still interested [jaroslav.a@atomica.org](mailto:jaroslav.a@atomica.org) ---
**Author:** ![zuzu\_eeka](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/zuzu_eeka/32/1157_2.png) [@zuzu\_eeka](https://research.lido.fi/u/zuzu_eeka)\ **Post date:** [July 4, 2023, 2:44pm UTC](https://research.lido.fi/t/tmc-0-stake-all-treasury-eth-in-lido/4744/14 "2023-07-04T14:44:54Z")
[On-chain vote](https://vote.lido.fi/vote/161) intended to staking 20304.356786192398999068 ETH to Lido passed and [was executed](https://etherscan.io/tx/0x673804d1c993c21f50f019cefb4c4cfb5e0a9e0ca2d78d6a59c33b321887a277) on the 30th of June