Lido Proposal: #0x2baf3275d15a8494ff94fef58d93bedd2fc28bfea8519f7e86474fc72dc25076

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

Status:
Closed
Approve EGG request100%

Approve EGG request: 100%

53,148,338 LDO

Decline (grants discontinue): 0%

96 LDO

Voting Period

  -  

Proposer

0xDbBC6A93ae517D3ea568C04219cbBBd025f01CB6

Discussion

Go to Discussion

Description

tldr

Basic Data

FieldDescription
Proposal Namest2024 v2
Which of the following GOOSE goals is your proposal advancing?1: Lido has effective and decentralized governance, 2: Lido attracts the best validator set in the market, 3: stETH is the most used token in the Ethereum ecosystem
Proposed scope of workEngineering Coordination, stETH Core Protocol Engineering, Validator Set Engineering for the Staking Router, Alerting and Monitoring Tooling, Community Module, Governance Core Protocol Engineering, API & Components
ObjectivesSignificantly advance all three GOOSE goals by focusing on expanding the validator set through Community Staking Module, growing stETH adoption in restaking and launching dual governance implementations
Total Budget Request31.8m DAI, 180k LDO
Best-before date2024-12-31

Review of st2024 v1 request

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In line with recurring underspends, the st2024 v1 EGG has a positive variance of ca. $12m. This excludes the last half of May and the month of June, but do not expect significant grants in this period.

Thanks to the Easy Track process, DAO grantees do not receive the full, upfront budget requested through an EGG, but realize any variances on a rolling basis.

st2024 v2 request

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st2024 v2 is a 6mo grant request to advance all three of the GOOSE goals approved by the DAO earlier this year and to double down on reGOOSE objectives approved earlier this year. All these goals are crucial for realizing decentralization objectives around governance minimization, validator diversity and stETH utility.

Continuity for ongoing projects being outsourced to Pool Maintenance Labs Ltd., Argo Technology Consulting Ltd. or serviced by RCC, to collect functions relating to set of staking technical solutions (protocol) execution, sponsorships and development support for the DAO. These existing contributor channels can mitigate present business continuity risks while advancing decentralized protocol governance.

This proposal would ratify the below budget request that will continue grantee funding for a further 6 months through Easy Track contracts into three multi-signature addresses DAI 24.6m and LDO 180,000 will be approved for the period Jul-2024 to Dec-2024, distributed across the below grant approvals.

Signers of the above mentioned multi-sig wallets can be looked up in the documentation.

If the proposal is approved, the first funding for disbursement to finance protocol operations would be requested from the DAO via Easy Track motions.

Multisig signers & addresses may be rotated by specified multisig after signalling the change to DAO on the governance forum. Number of signers can’t be lowered, and the threshold must be at least 50% of the signers.

A further 7.1m DAI in wstETH at market value would be approved for the Liquidity Observation Lab to continue a previous grant to further liquidity incentivization, experimentation and research. LOL will continue to work to deliver public resources on stETH liquidity.

To deliver on Hasu’s GOOSE and reGOOSE goals, areas of focus during the budget period will include:

At the end of the budget period, if GOOSE goals can be advanced further, the Lido Contributors Group may request another grant from the DAO to continue their contributions.

Transparency

As with the previous EGG, a mid-period review will be held to recap on the progress to date and report on variances. Publicly available information on the state of the DAO economics continue to be available here (though the dashboard is being reworked over the coming weeks to update for Stonks and distinguish between new Staking Router modules).