Vote to engage a Head of Legal & General Counsel for Lido

This is a vote to onboard a DAO-vetted Head of Legal & General Counsel for the Lido DAO based on the two following proposals:

Candidate Proposal for Head of Legal & General Counsel Role. Role Overview - Head of Legal & General Counsel Proposal.

The value in this role is time, cost, speed, and risk avoidance. What was the legal landscape before is not now. The scope of Lido projects has broadened. The timing and criticality of the evolving legal landscape needs to be managed to avoid legal pitfalls and to establish sound operational strategies going forward. It will help make or break Lido’s long-term success by helping to see around corners from business and legal perspectives.

Having our own in-house contributor in this role will source all the best resources in the fastest time frame. No learning curve in finding the resources because the lawyer is embedded in operations, and a reduction in the cost of outside counsel. Under the compensation scheme this person will have vested interest in our success.

Thus, an in-house legal role is needed for Lido. Rotorless is a highly qualified candidate who we believe would excel in this role.

Compensation

The proposed compensation for Head of Legal and General Counsel has two components:

1. Cash compensation of $20,833.33 per month, payable in DAI from the Lido DAO or a structure operating within it.
2. Token options payable in LDO from the Lido DAO or a structure operating within it, to vest over three years. The option calculation is, as follows:

(Annual wage*k)/(120d LDO TWAP), where:

• “k” - set at 2.5
• 120-day LDO TWAP is $1.61 at time of this proposal being republished

1/3 LDO will be vested on the 12-month anniversary of continuous service to the Lido DAO; and 1/36 LDO will be vested upon completion of each subsequent month of continuous service to the Lido DAO. The service-based vesting outlined above represents a contingency for each of the described periods; thus, if the individual quits or is terminated before completing the first 12 months of service, they would have earned no LDO. If they quit or terminated during month 13, they would have earned 1/3rd of the total possible LDO but would not have earned the rest of their potential LDO grant. There are no further lockups on fully vested LDO (i.e., once they vest in some # of LDO, they can sell that # of LDO at any time).

Probation Period

The probation period is 3 month starting from the date of proposal acceptance.