Lido Alliance application: Bolt

Summary

Bolt, a protocol developed by Chainbound, enables sub-second preconfirmations on Ethereum through the use of proposer commitments, a novel primitive that allows proposers (validators) to make credible commitments on the blocks they produce.

In this proposal, Chainbound asks for the onboarding Bolt as a part of Lido Alliance (a framework for Lido DAO to provide support and endorsement to protocols that share a strong dedication to security and an unwavering commitment to decentralizing Ethereum validation, more details here).

How Bolt will help the Lido Alliance achieve its mission:

• Ethereum-alignment and commitment to decentralized validation

Bolt’s innovation helps improve Ethereum's UX and bolsters its censorship resistance, namely via new out-of-protocol primitives such as preconfirmations and inclusion lists.

Bolt’s preconfirmation design is trust-minimized, credible, permissionless and compatible with the existing PBS pipeline (and eventually ePBS). Ultimately, the goal is to boost the value of differentiated blockspace for users and applications, as well as generate more yield for validators.

• Strategic alignment with Lido DAO’s values and long-term goals

One of the key reGOOSE principles, adopted in May of this year, is to ‘support Ethereum-aligned validator services, starting with preconfirmations without exposing users to additional risk’.

Preconfirmation offers significant advantages to the end user, such as the provision of early signals of transaction validity, reduced uncertainty during the confirmation period, improved security measures and faster decision-making for time-sensitive applications.

Preconfirmations are high on the list of use cases that should be championed by the Lido Alliance. Their implementation supports the innovation ethos and helps the protocol stay on top of the latest advancements in the block production pipeline.

• Effective Preconf solution for Node Operators on Lido on Ethereum

Bolt is implemented out-of-protocol, easy to integrate, and designed to be compatible with the existing block production pipeline. It covers a number of existing block-space use cases while future-proofing in case of a transition towards ePBS. With Bolt, validators do not need to rely on trusted relationships (no added gateways or special relays are required in order to run the software) to make commitments to further monetize their blockspace, which minimizes centralization factors and single-point of failure risks.

• Chainbound Commitment to Lido Alliance

Chainbound plans to allocate 6.5% of Bolt's total token supply to the Lido Alliance. The total allocation consists of two components:

• Strategic Allocation: 3.5%

This 3.5% represents the minimum number of tokens that the Lido Alliance will receive. Tokens will follow the same unlock schedule as early contributors to Bolt.

• KPI-Based Allocation: 3%

The KPI is defined as the percentage of Ethereum delegated to validators part of the Lido on Ethereum Curated Module who have opted in and are running the Bolt protocol, out of the total amount of Ethereum delegated to all validators part of the Lido on Ethereum Curated Module.

A 90% adoption rate among the validators part of the Lido on Ethereum Curated Module is targeted as the threshold for 100% KPI achievement.

More in-depth explanations with examples can be found at the link.

What Chainbound is seeking from Lido Alliance membership:

• Endorsement, Integration, and communication support

Lido DAO’s acceptance of Chainbound as a member of Lido Alliance for the Bolt protocol.

Lido DAO will endorse Bolt as one of the preconfirmation solutions that align with key reGOOSE principles, facilitating the adoption of Bolt on Ethereum. This initiative will begin with support for Cohort 1, a working group focused on testing Bolt on Holesky, by encouraging Node Operators within Lido on Ethereum to participate in Bolt’s opt-in testnet.

To the extent possible and where appropriate, collaborate with Bolt in community distribution channels, such as websites, landing pages, and support large Bolt announcements.

• Support and consultation

Direct collaboration with Lido’s contributors and working groups, including feedback and evaluation of Bolt’s design choices, suggestions on auditors and potential partners, and continuous testing of the Bolt software.

Proposal actions

Through the proposal, Chainbound requests onboarding of Bolt to Lido Alliance.