Validators on-boarding for Lido on Polygon (wave 2)

Lido Node Operator Sub-governance Group (LNOSG) evaluated candidates for Lido on Polygon validators set extension on Monday, March 27th.

Evaluation Results

During the evaluation discussion, the LNOSG suggested five applicants should be proposed for the shortlist to the DAO for on-boarding onto Lido on Polygon. All of the shortlisted applicants have confirmed their desire to join the Lido on Polygon operator set in the public onboarding thread.

During the discussion, the LNOSG was cognizant of potential market volatility and the impact to existing Lido Node Operators currently running validator for the protocol as a potential result from increasing the set size from its current six members. The proposed shortlist balances the goals of the LNOSG’s diversification efforts on Polygon while working to limit rewards dilution for existing Node Operators.

This on-boarding round was extremely competitive with over 43 total applications and 26 eligible applications. Due to the limited size of overall the Polygon validator set, Node Operators were deemed ineligible if they are not currently running an active mainnet validator.

As a result of the LNOSG discussion, the committee suggests that on-boarding a cohort size of five is most appropriate at this time, an 83% increase in the number of Node Operators participating in the Lido on Polygon protocol.

During the meeting on March 27, 2023, the LNOSG decided to propose the following applicants for inclusion into our node operator set for the Polygon protocol:

Shortlist (in alphabetical order):

Bountyblok

BwareLabs

Everstake

Smart Stake

Stakin

More details can be found in the proposal.

Next Steps

Following the Lido DAO approval (or during the vote optimistically so that we can execute faster), the LNOSG will coordinate with the respective teams to onboard the new node operators onto Lido’s communication channels and prepare operators for inclusion onto mainnet. The estimated timeline for the new node operators to be fully on mainnet is end of April / early May.