Lido for NEAR - Proposal by Everstake

Everstake proposes to create a liquid staking solution for NEAR Protocol as a part of the LEGO Initiative.

Being in Top 10 Crypto Assets by Staked Value with more than $6,422,073,841 staked, NEAR represents a valuable addition to the Lido family.

Please find the full proposal here

Terms

We propose to issue a 100,000 LDO grant to Everstake for each percent of the market share achieved by Lido for NEAR up to 20%.

Please see the table below for detailed breakdown:

|Market Share|Amount| | --- | --- | |1%|100,000 LDO| |2%|100,000 LDO| |3%|100,000 LDO| |4%|100,000 LDO| |5%|100,000 LDO| |6%|100,000 LDO| |7%|100,000 LDO| |8%|100,000 LDO| |9%|100,000 LDO| |10%|100,000 LDO| |11%|100,000 LDO| |12%|100,000 LDO| |13%|100,000 LDO| |14%|100,000 LDO| |15%|100,000 LDO| |16%|100,000 LDO| |17%|100,000 LDO| |18%|100,000 LDO| |19%|100,000 LDO| |20%|100,000 LDO|

To identify the market share, we will use the ratio of NEAR staked with Lido versus all other staked NEAR based on the Validator Stats. This market share percentage, has to be kept for at least 30 days to mitigate the variability.

To support the ongoing development, maintenance, and improvements, we propose that Everstake will keep 20% of the fee received by the DAO while the other 80% is held by the treasury.