[LIDO-1] November 1, 2022 - April 30, 2023 | Lido Ongoing Funding Request

Lido is in the process of continued decentralization towards a permissionless, contributor-driven DAO. Two independent real-world vehicles will serve as invoicing/contracting entities for Lido contributors and suppliers, in the interest of furthering the development of open source software dedicated to decentralized liquid staking operations.

→ Approve 6mos of run-rate funding (DAI 11.2m + LDO 398k) for independently operated entities to support the development of decentralized liquid staking protocols

Details on the following link: https://research.lido.fi/t/lido-1-november-1-2022-april-30-2023-lido-ongoing-funding-request/3133

The below budget should only be the beginning of a longer process the moment we are sure there are no potential disruptions to business continuity.

At this point, and with short-term operational runway secure, we invite the Lido community to organize to shape the DAO’s goals for the year 2023, following which a formal budgeting process can take place to, in a structured and top-down way, identify operating expense needs required to achieve these goals.

Proposal Actions

• Recognition of the Lido Contributors Group, encompassing Pool Maintenance Labs Ltd., Argo Technology Consulting Ltd. and the existing RCC, to collect functions relating to protocol execution, sponsorships and development support for the DAO
  • These three distinct contributor channels can mitigate the present business continuity risks while advancing decentralized protocol governance
  • This proposal would ratify their interactions with the DAO, along with the below budget request that will officially engage the Lido Contributors Group for 6 months through a funding injection into three multi-signature addresses
• DAI 11,242,616 and LDO 397,726 will be approved for the period November-2022 to April-2023 to fund DAO activities, distributed in the following way:
  • DAI 7,517,603 and LDO 220,000 will be approved as a contribution to Pool Maintenance Labs Ltd., an independent not-for-profit software development company in the British Virgin Islands, funded through a company-authorized 4/7 multi-sig wallet 0x17F6b2C738a63a8D3A113a228cfd0b373244633D with signers listed below:
    • adcv: 0xcC692077C65dd464cAA7e7ae614328914f8469b3
    • folkyatina: 0x75E01e1B7a4Ac280fB744A8153beE668A7e83abd
    • kadmil: 0x9A3f38AF97b791C85c043D46a64f56f87E0283D4
    • Azat: 0xA14BFfd91fb571bF1D9Bec70f273CAc13CA127Fa
    • krogla: 0x000000DfE832ccD7a4011a1Fca34602C9a598353
    • skozin: 0x181dbb1E8156518a58Cbb83AF4D3C41E731c6bdF
    • rotorless: 0xF6E9a144D727C239cC2A7C64C48B8b9A0E39b3dc
  • DAI 1,963,430 will be approved as a contribution to Argo Technology Consulting Ltd, an independent Panamanian software development company operated as a not-for-profit, funded through a company-authorized 4/7 wallet 0x9B1cebF7616f2BC73b47D226f90b01a7c9F86956 with signers listed below:
    • aurelius: 0x7A29c1197962D1b42FcfA8095fA1dF66E489fCd6
    • dgusakov: 0x992Ce4eEc8288274f60880c7770DdA265fCCe610
    • carvas: 0x1B3fcFCeF0d61454eee4cd4E38159D2A43E28541
    • marin: 0x443D995C138ace07C353d7544Bc984169890A37d
    • Jakov: 0x59d07dc34B135B17b87840a86BFF7302039E7EDf
    • pshe: 0x7F2aAb92752026372081f76Cdc2C3a1155E62867
    • adcv: 0xcC692077C65dd464cAA7e7ae614328914f8469b3
  • DAI 1,761,583 and LDO 177,726 will be approved to fund the RCC 4/7 multi-sig wallet 0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437 with signers listed below:
    • jbeezy: 0x039bDD285d3eDb1D9B6001d3097067Aa2AF7d826
    • izzy: 0x783EA934d543CD1ccfd920639A7539a0BD3895e2
    • alex_l: 0x1e7aa9C33A53e34dcdEdeb465a1Cb344eE979C77
    • aurelius: 0x7A29c1197962D1b42FcfA8095fA1dF66E489fCd6
    • AD: 0x0d22e69ce47818c3524Fe952e8De7AF78cC3C43b
    • zuzu_eeka: 0x004812da927b5dcd07e7329609edd75e25d2d295
    • adcv: 0xcC692077C65dd464cAA7e7ae614328914f8469b3
• If the proposal is approved, the first funding for disbursement to finance protocol operations would be requested from the DAO via Aragon vote as follows:
  • DAI 1,500,000 and LDO 220,000 to Pool Maintenance Labs Ltd. 0x17F6b2C738a63a8D3A113a228cfd0b373244633D
  • DAI 500,000 to Argo Technology Consulting Ltd. 0x9B1cebF7616f2BC73b47D226f90b01a7c9F86956
  • DAI 250,000 and LDO 177,726 to RCC 0xDE06d17Db9295Fa8c4082D4f73Ff81592A3aC437
• Each following distribution will be authorized either as an Aragon on-chain vote or through the Easy Track Motions process once available.
• 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 threshold must be at least 50% of the signers.