Space Summary
The Twitter Space Lido DAO: Delegate Rally Q&A hosted by LidoFinance. The Lido DAO: Delegate Rally Q&A Twitter Space provided valuable insights into DeFi staking, emphasizing community engagement, security measures, and educational initiatives. Participants learned about Lido DAO's liquid staking solutions for Ethereum, the delegate rally's role in boosting involvement, and the significance of transparent governance in DeFi projects. The space highlighted the importance of understanding risks, fostering collaborations, and promoting user-centric approaches in the DeFi ecosystem.
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Questions
Q: What is the main offering of Lido DAO in the DeFi space?
A: Lido DAO provides liquid staking solutions for Ethereum, allowing users to stake ETH without lock-up periods.
Q: How can users participate in the Lido DAO delegate rally?
A: Users can delegate their Ethereum to Lido validators to earn rewards and contribute to network security.
Q: Why is community involvement crucial for the success of projects like Lido DAO?
A: Community engagement enhances decentralization, trust, and participation in DeFi initiatives.
Q: What measures does Lido DAO take to ensure platform security?
A: Regular audits, transparent governance, and security protocols are in place to uphold platform integrity.
Q: How can DeFi newcomers learn about staking through platforms like Lido DAO?
A: Educational initiatives and resources play a key role in onboarding new users to staking and DeFi concepts.
Q: What role do collaborations play in advancing staking protocols in the DeFi ecosystem?
A: Partnerships and collaborations drive innovation and development within DeFi, benefiting platforms like Lido DAO.
Q: Why is understanding the risks and rewards of staking important for DeFi participants?
A: Awareness of the risks and rewards helps individuals make informed decisions when entering the staking space.
Q: How does the Lido DAO delegate rally aim to promote community engagement?
A: The delegate rally encourages users to actively participate by delegating ETH and earning rewards.
Q: What advantages do liquid staking solutions offer compared to traditional staking models?
A: Liquid staking provides liquidity, flexibility, and the ability to earn rewards without locking up assets.
Q: Why is transparency in governance essential for DeFi platforms like Lido DAO?
A: Transparent governance builds trust, ensures accountability, and fosters community confidence in DeFi projects.
Highlights
Time: 00:12:30
Lido DAO Liquid Staking Exploring the benefits of liquid staking for Ethereum through Lido DAO's innovative solutions.
Time: 00:21:15
Delegate Rally Engagement Understanding how the delegate rally boosts community participation and involvement in Lido DAO.
Time: 00:35:10
Security Measures in DeFi Insights into the robust security practices implemented by Lido DAO and similar DeFi platforms.
Time: 00:42:45
Educational Initiatives for DeFi Onboarding Discussing the importance of educational resources for attracting new users to staking platforms.
Time: 00:51:20
Impact of Collaborations on DeFi Innovation Highlighting the role of partnerships in driving progress and innovation in the DeFi staking sector.
Key Takeaways
- Lido DAO is a decentralized finance protocol offering liquid staking solutions for Ethereum.
- Staking through Lido allows users to participate in Ethereum 2.0 without dealing with lock-up periods.
- The Lido DAO delegate rally aims to encourage participation and engagement within the community.
- Users can delegate their Ethereum to Lido validators to earn rewards while contributing to network security.
- Community involvement plays a vital role in the success and decentralization of DeFi projects like Lido DAO.
- Understanding the risks and rewards of staking is crucial for individuals considering involvement in the DeFi space.
- Lido DAO's transparent governance model enhances trust and confidence among its participants.
- Regular audits and security measures are essential for maintaining the integrity of staking platforms like Lido DAO.
- Educational initiatives can help onboard more users to the benefits of staking through platforms like Lido.
- Collaborations and partnerships in the DeFi space can drive innovation and further development of staking protocols.
Behind the Mic
Introduction and Welcome
Hello. Hello everyone. Welcome to the lighted out alligator rally space. Let's wait a few minutes while everyone coming and I'm inviting all delegates to become speakers. Feel free to accept it. Yep, yep. Hello. I would propose everyone to check that they are all working here. Hello, can you guys hear me? Yes. Welcome, welcome. Hello guys. Everything fine? Loud and clear. Yeah, yeah, we can hear you. Yes, hello, welcome. Hi, can everyone hear me? Yeah. Yes. Oh, great. Welcome everyone. And let's wait a bit more because that's unusual time for spaces for the leide. I would expect people need some time to understand what's happening. And let me introduce myself briefly. My name is Jen and I'm lighted hour contributor. I'm contributing Del operations work stream.
About the Delegate Rally
And today we will meet with some delegates as part of delegate rally. Just to remind everyone that in August lied introduced on chain delegation and on snapshot, the pilot launch of delegate incentivization program was approved. And now we have delegate rally and they will be happening till this September 9. We already have one Twitter space with delegates on Monday. If you missed it, feel free to find the recording online, Twitter or YouTube. And today we will meet more delegates. And I would propose to start. Well, today we have six great guys and the first thing I would like to propose is to introduce yourself. I'd ask each of you to introduce yourself. Tell us a bit more about your background, your experience, and why you decided to become a public delegate for Lida Dao.
Introductions by Delegates
I would proposed, yeah. I don't know. I. So I'm happy to go first if no one wants to. Yeah, yeah. Hello, hello. Hey, this is stegosaurus here. Myself and Catherine on the call. We are representing the white paper Reading club. We are based in Singapore and it's exactly what it sounds like. We are an organic community that are made out of founders, veterans, engineers, all walks of life. And we read up on white papers, research topics and even Dao proposals. And then we meet up once every two to three weeks to discuss and debate around these topics with a goal of achieving a more complete understanding collectively on said topics. Oftentimes we also involve the protocol or project teams in the discussions, either directly or I asynchronously to fact check and also to for further contemplation. Yeah. So there'll be three of us from the white paper Reading club representing this LDO delegate myself.
Background of Delegates
You know, I used to be an investor, VC investor for five years and now I'm a solo staker working on expanding the talent pool of solo stakers across Asia. I am also an independent grantee of Lido under the Community Lifeguards program, which is sort of commissioned to help Nido grow and support their community stakers. And I do this by creating solo staking guides designed for the layman and bringing together local partners in each market across Asia together to create new opportunities for aspiring solo stakers. This coming Monday, I'm also the co-organizer of the very first home staking summit held in Singapore during a very competitive week of Token 2049. The other member that's on this call is Joseph, who is a researcher at Metagarf for Dao Star, and he does deep research into the relevance of Daos at both a global and local level in Singapore. He is also the author of this State of the Daos in Singapore report, and I'll be more than happy to share with you guys.
Further Introductions
He was also the smart contract architect of the Treehouse protocol, which has very deep integrations with Nido. And I'll let Kathryn tell us a bit more about herself as well. Yeah, thank you for the great introduction to WPRC white paper Reading Club, Samuel. So I am actually quite new to the Ethereum ecosystem, although I've actually spent seven years in crypto. So I started in decentralized exchange called liquid, which got acquired by FTX Japan. And after FTX collapsed, it made me realize decentralization is a must and hence the advent of DEXs and of course protocol supporting these platforms such as Lido. And eventually I moved to a alternative layer, one proof of stake system that prioritizes on chain governance called Tezos. I've been ecosystem building for them in Asia and I eventually realized like, okay, there's more ecosystems out there that we should engage with. And left to set up Katash, which is my own venture builder.
Public Delegate Aspirations
We focus on partnership models that are focused on collaborative venture building, and we believe that we all share a builder's mindset here in this room. I want to work with best builders in the space, and that's why I'm really keen to see how we can work with WPRC as a collective, where we discuss white papers, as Samuel shared, on a fortnightly basis, see how we can contribute more diverse perspectives from the Asia region because we have a strong activation network here, we build here on the ground up, and we're very pleased to like, have more diverse participation as the Lido Dao encourages. So thank you also to Dhenya for enabling a Asia friendly time zone spaces. That's very much appreciated. Yeah. And shall I talk about why we want to explore becoming a public delegate for Lido. Is it a good time or should we wait for everyone to leave it to chat? Let's right now move into the next delegate, but we will get back to this question, of course, a bit later.
Continuing with Introductions
Thank you for participating. Really happy to see you here, guys. And if probably Valentin wanted to start, feel free. Yeah, sure. Hey everyone, thanks for the invite. I'm Valentin from Deadlos Angels and I'm with engineering background. I used to be an engineer for many years in web two. Then seven years ago, I went full time in crypto. I was the CTO of a blockchain analytics company. And in 2020, during the Defi summer, I got involved in a lot in Lobsterdao, where I was basically helping people to understand how these rug pools are happening, warning people for risky protocols and things like that. And around this time, I gathered some other people with similar ethos as mine, and we created dead Los Angeles, which is basically a small group of builders and operators in the space helping other projects, and we're helping not only financially, but also helping them out with network, with technical knowledge.
Valentin's Perspective
We are basically crypto native people that have been around for many years, and we understand the defi space, how all these protocols are working. From that perspective, we believe that we can be quite valuable for Lido as someone that is basically crypto native and understanding why the system needs to be decentralized and not to be biased against different things. So we believe that Lido is one of the biggest protocols out there. It's securing an enormous TVL, so that makes it very important to have people that are really involved in the ecosystem to be involved in the DAO process. Here is also Nemo from Dado, so maybe he can also do a short intro. Hey, everyone. Nemo. I'll try to keep it short, also with the engineering background, but move a lot on the product side and business growth in space.
Nemo's Contributions
Matt, actually Valentine, in the blockchain analytics company he mentioned called sentiment, and a couple of years ago, again together with him in lobster, Daub started helping the community to not get scammed and rugged and. Yeah, happy to be here. Thank you guys. And moving to the next person, probably Ernesto. Do you want to be in the next one? Yeah. Hello, guys. So, yeah, I'm Ernesto. I'm the co founder of Bed Labs. And yeah, basically I'm representing Bidi labs. Like for. As candidate for being a lido delegate be labs maybe is not so well known for some of you. For some, maybe it is. We are core contributors to the development of Abe.
Ernesto's Role and Vision
Also part of my background is that I was the CTO at Abe. Like when the protocol was created and so on. I was all the time around and well, yeah, my personal background obviously is pretty technical lately. Quite a lot on strategy too. But be the labs, we are basically a technical team. Then why I wanted to participate in Lido in the TaO is because kind of repeating what Valentine just mentioned, Lido is very important player in the defi ecosystem, like. And I think that is not only good for Lido but for everybody else. Like to improve the procedures, like to improve the centralization and basically the quality of everything around the DAO. And yeah, I have quite a lot of experience on all the layers of daos. Like from public discussions to even technical implementation of all the infrastructure. As in Abe, we have quite a lot there. So yeah, just happy to be contributing to lido too.
Yve's Contributions
Happy to have you as a delegate and I really think that Lido needs the delegates with strong technical background. Is really important for the DAO, especially with such security assessed culture and I saw that Yve from Sid. Yeah. Hi everyone, Yve here representing SiD. So speaking on behalf of the team. SID is a LATAM based organization that promotes the adoption of decentralized technologies and drives educational initiatives with community building. And as you may know, Latam is a region with a lot of potential. So proudly representing the region. It's 07:00 a.m. here in Argentina. So hi everyone. And on top of the organization and community aspects we participate in several governances.
Governance and Community Involvement
We are present in optimism as grant reviewers and PM's of the delegates incentive programs. So doing a lot of government work. We are expecting to bring here to Lido. We also participate in Nosis, our clear start net. So kind of. We kind of have this horizontal view on governance and it's something we really work towards. And we decided to become public delegates because were somewhat already involved in Lido. Our notes team was participating on the SDVT and CSM modules and were also community grantees for developing technical material for universities. Regarding notes, we also helped with the translation of lighter dogs to Spanish. So I guess this was.
Introduction to DAO Involvement
It was just another step on getting involved in the DAO as well. So yeah. Happy to meet all of you. Welcome, welcome. And we have two more people I would ask Degen trading to introduce.
Introduction from a Delegate
Sure. Hello everybody. Can you guys all hear me? So I mean this is not just for the Lido delegates. This is also towards the broader community that have spent their time to tune into this. So a very quick introduction of myself. I started off as a trader in tradfi, quickly moved to crypto because that's clearly where all the excitement is. And since then I've been engaged in trying to figure out markets. And the exciting thing about crypto is that there's a huge beyond just to get really good in trading crypto, you need to understand the market mechanisms. And fundamentally crypto, you also have to understand about incentive structures as well as the core element that segregates this market from tradfi.
Importance of Community in Crypto
Is that the importance of the community? Right. So that's a very quick introduction of myself, my experiences, mainly trading. Right. And now finally, why am I here today as a public delegate? To be very transparent and upfront with everybody. I'm here because I hold huge lido bags, so I care about Lido a lot, probably too much in a very unhealthy manner. The second thing about it is also that the fact that Lido is a critical core piece of the entire ethereum ecosystem. However, I think there are certain things that have occurred over the last one to two years where we also see the amount of community traction that it has been getting has been dropping off.
Challenges and Goals within Lido
There's been a general sense of apathy in the space, not just restricted to Lido, but in terms of governance in general. So I think this is an important piece of the infrastructure and I want to make a difference in something that's important. Right. So that's why I'm here. Yeah, that's a very quick introduction. So thank you. And thank you everybody as well. Thank you for coming and participating. Really happy to see the LDO holders becoming a delegate because I think this is really like, great way to be engaged. And the last but not least, the mark. Thanks, Jen. Thanks everyone for having me here.
Delegate Background and Intent
Basically my background, I'm an independent here, so not really representing anyone. Just have Lido use Lido, love it and would like to see it to continue to thrive going forward. My background is in tradfi, so I worked in management consulting for many years, mainly in strategy and operations. And at the moment I continue to work in tried fire for revolut, which has some components to crypto, but it's not really that cryptocurrency. And I also participate already with Lido Dao on the treasury side, so trying to make sure we manage treasury as efficiently as possible.
Motives for Participation in Lido Governance
And the reasons why I want to participate with Lido is threefold. First, make it easier for people to participate. We're seeing very low participation and part of it is it's hard. People have their own lives, have their jobs, have many things they have to worry about. And being on top of Lido, well, it's very hard. And maybe for insiders it doesn't look like it, but if you are doing other things, it's really hard. So make sure we keep this kind of decentralized participation, then making sure Lido continues to lead in staking. We have a great position, right, because Lido started very early, really won the retail space, but a lot of it is shifting more towards institutions and businesses.
Expansion and Adaptation in Staking
And this will have very different criteria than what retail people have. So I would like to make sure that Lido continues to lead here and it will take us having a different mindset to lead there. And then lastly again, and this happens with many daos, but there's things that maybe could be improved in terms of operations. I would like to help bring the rest of the traditional business world to Lido and things that have worked and make businesses continue to work for hundreds of years. Bring what is possible here and contribute that way. So that would be it for me. Thank you and also welcome.
Q&A Session Introduction
Just as it said on the title, this is Q and a session with community and delegates. And just wanted to mention that feel free to ask questions on the comments or I will ask one more question to all delegates and then you would be able to ask questions out loud. Feel free to participate. It's really valuable and would be nice to have not only my question, but also the community ones. My second question would be, could you please, just to highlight why I me as a token holder, or any other token holder who will listen this recording or listening right now need to choose you as a delegate and highlight what unique skills or perspectives do you bring to the Lidar Dao governance and how do you plan to use them to drive changes and improvements.
Delegate Candidate Insights
I propose the same orders like Samuel Dugawanthe. Hey, hey. Happy to have it. Yeah. Let me first cover why does the WPRC decide to become a delegate as well? So I guess that in terms of alignment of products, Lighto's products are highly aligned with, you know, my own goals of trying to expand the talent pool of solo stakers, especially with the simple DVT initiative and then the community staking module more recently. And also we are highly aligned on ethos because one of the things that we really respect about Lido is the consistent efforts to prioritize decentralization and security.
Dedication to Decentralization and Governance
And this is not just paying leap service, because this come at a cost. Lido could have easily just been centralized, liquid staking and make a ton of money. But yet we prioritize decentralization and security, and hence we are just at a break even point. And it is not just on the surface, because when you interact with the people who are working on the ground, on actuarial products, they often passionately debate about the right way to do things. And it's something that we don't see from many web three projects.
The Importance of Lido's Position
And it's because of this culture that we want to retain, because of the size of Lido and its potential influence. Lido is in a position where physicians can have ramifications on the broader ethereum ecosystem. And we see Lido's success as ethereum success at this point. So instead of passively hoping that others continue driving Lido in the right direction, we want to contribute actively to helping to shape the policies. And as WPRC, we see this as participation in governance as an extension of what we are really doing.
Efforts in Governance Engagement
Most of the legwork of reading out on Dao proposals and analyzing them, debating on them. And this is just final step of putting our opinion out there and voting for what we collectively believe in. And, you know, because Lido has been a force for good of Ethereum, and we would like this to remain true. Now, why should someone delegate to us? So among the three of us at WPRC, we are able to represent a diverse set of opinions, like what Kathryn mentioned, you know, and we achieve this via the unbiased and intellectually honest research and debate that we are very used to at WPRC on a representative level.
Unique Perspectives Offered by WPRC
So for me, I have the benefit of the grassroots representation from solo stickers. So I understand because I'm entrenched deeply in this community across Asia. So I have the right understanding both on the technical and the social aspects of solo staking. And I'm able to provide this unique perspective on Joseph. He is a DaO researcher, so he has a deep understanding of daos in terms of structures and Dao ops. And Kathryn, you want to speak for yourself?
Experience and Contributions to Governance
Yeah, thanks, Sam. On my end, I actually am on the board of the oldest blockchain industry association in Singapore. It's called access. So I've been actively volunteering, contributing to them in terms of best practices for corporate governance. Yeah, at the intersection of engaging regulatory, helping regulatory dialogue, and also to work with industry stakeholders to come to a collective agenda on how we can use technology responsibly and also consumer protection.
Identifying Areas for Improvement
Just to just move to the idea of some meaningful changes, do you already see any areas that need to be improved? Any ideas how will you use the voting power if you get one? Sorry, sorry. Could you repeat that question? Yeah, sure. Speaking about the Lidar today and your perspective and skills, do you already see some way to use it and like, what is the most important? Right, right. So I guess the critical piece of infrastructure that we need to cultivate is the supply of new solo stakers.
Growth in the Solo Staking Community
So I think we are already moving in the right direction where we have very favorable kind of incentives and policies that can create this and expand this talent pool. The more recent proposal I saw was the amount of bond required to participate in the Lido CSM know, it really makes sense for solo stakers to now, instead of just being liquid stakers, especially if they are just staking in a centralized exchange, to now consider picking up the skillset and then moving their staked eth into their own machine. And this can contribute to not only Lido's success, but also to the broader ethereum ecosystem success.
Contributions to DAO Success
So that's just my two cent. Thank you. Thank you. Let's move to the next delegates. Just remind a question, firstly, why should token Holder choose you to delegate? And what is like your unique skills or perspectives that will drive meaningful changes and where do you apply your skills, like as a first step? Yeah, so one of the key points I think Daedalus is strong at is the network of projects that we work with, and these are other projects in the ecosystem that, you know, have also an important role, like Morpho, the graph here.
Networking and Connectivity
And so being able to connect with these projects and be a kind of a broker when it comes to changes that are proposed to be done on the Lido protocol, I think that's quite important. Cause that's gonna allow these projects to also be up to date and be able to see what is going on or to see their perspective and evaluate it. Another thing that I think we're kind of proven that we're good at is explaining things in simple terms. This is basically what I mentioned around like the lobster Dao, and explaining people about risks around given protocols.
Commitment to Informed Decision-Making
As one example, it was an interesting situation around one protocol that was like a stable coin backed by real world assets that we highlighted that there are a lot of risks and one week later it collapsed anyways. So I think these two things are kind of something that we've proven that we're good at. And yeah, I mean, our ethos as everyone here, I'm sure, is also highlighting being able to keep the decentralization and neutrals and all that. But also we need to keep in mind that decentralization is a spectrum.
Balancing Decentralization and Efficiency
So I think at daedoos we are not decentralization maxes to the extent where kind of fanatics, but we are also not on the other spectrum which is like super pragmatic and being like wishing to cut corners and all that. And as an example, I would say like this very exciting change in lido that started about a year ago with implementing the dvts, simple DVT. It's an interesting thing because one hand it's improved decentralization a lot, but we need also to be cautious about is it efficient?
Future Outlook on DVT
And by efficient I mean is it basically providing the same level of attestation and creating a box as the more centralized approach with the operators. And I firmly believe that the DVT is the future, but also we need to be cautious around like keeping the system efficient and being able to see these problems for all these angles. I think important, an important thing. So yeah, I mean, nemo, if you have anything to add.
Team Dynamics and Governance Experience
Yeah, no, I would just add basically like as Valentin now literally like explained is like the Daedalus team is like eleven people that are operators on different scales from the engineering security side up to product talking mechanisms and so on and so forth. So from that perspective, I think that the unique thing that we have is like everyday grind, like all of the other contributors in all of the daos, including Lido, but also being exposed to all of these nitties, gritties of different things that are happening in the blockchain space by supporting these projects, as we mentioned, with all of the efforts that you can, both from the peer review perspective on the engineering side all the way to the product business and growth from there.
Insights from Operational Mindset
So that's like the main highlight there. And as Valentin mentioned, the Daedalus team, because of that operational mindset that we are doing for numerous years now, is involved in different governance processes in so many different daos that I think that's giving us unique perspective of all of the moving parts and pieces that are happening across the whole spectrum and by us. I think that like one of the things that we are excited is that simplification of governance by engaging the community and also in simple terms explaining the emotions and proposals that are there, breaking the domain positives and negative sides, as Valentino just explained with just one caveat here about the DDTs and our reasoning for the vote that we do and how we plan to perform those voting and all of that with the mindset to keeping the light on mission, vision and purpose, which is by proxy decentralization, security and innovation in check.
Final Thoughts on Governance and Purpose
And yeah, that's it for us. Thank you. And I so agree regarding the decentralization efficiency balance and security simplicity balance also really important. Thank you for highlighting it. And Ernesta. Yeah, yeah, maybe I can start like, with why I think light itself, like is interesting, like, for me to contribute, like, so it's kind of a bit repeating, like what the previous delegate candidates already said. But the idea is that the role of lido in the defi ecosystem is very big for very obvious reasons, like in terms of users, in terms of like other applications that depend on lido.
Discussion on Ethereum and Lido
Meaning that, yeah, it's not only about like growing life itself, but quite frequently, like the most commonly discussed topics in the community are even about like self protecting, like Ethereum against light itself or things of that sort, which are, yeah, they are a bit strange, like, for the normal business world. But I think that on Ethereum is how everything started. And it's very important that the top players, like Lido or like Abe, keep having a strong stand on those. Yeah. And I think, like the third part of Lido that I think is very attractive is that personally I know a lot of the contributors, of the existing contributors, especially on the technical side, and I think it was mentioned also before that this is very clear, like when you talk with everybody at Lido, that there is really good care about what is being developed, like how everything is getting tackled in all layers, security wise, like growth wise, basically everything.
Personal Contribution and Expertise
So I think those three are why I think is like, it's attractive to contribute to then. Yeah, why people should trust me and my criteria. Well, I mean, I think that I bring something that is not so easy to reproduce because as I commented before, I participated on Aave from its inception until now, very deep into, into the system and well, abe being quite a big player out there, like, it's just not easy, like, to find people that is deeply involved on it. Even if of course, like there is other amazing contributors to the Abadao also, the Aberdow itself is, I would say, maybe one of the leading decentralized Daos out there, if not the leading one, because during the last, let's say, two or three years, a lot of effort has been placed there with a lot of really good contributors, like frameworks, like attempts to improve parts that they needed to be changed down the line. Basically practical knowledge like that was acquired. During the last two years I have been very involved on all of those processes.
Diverse Expertise and Governance Contribution
So that gives, I think, pretty a lot of value. And then I think I have a lot of technical expertise on governance itself, obviously on the Phi two. So I think that my participation will be quite educated in the field and I will have decent criteria both on technical topics and not so technical topics. What else? Yeah, I think I'm pretty independent person. I'm not so biased. Whenever I feel that something will be good for light of DAo, I will support it. Whenever I think that is not, I will not. Simple as that and. Yeah, kind of. That's it. Thank you. Thank you. Yeah, I also agree that like SEO, diverse expertise is really valuable and beneficial. Ive. Yeah, well, first of all, I think that what we bring to the table is the geography distribution perspective, which is really relevant.
Geographical Perspective and Community Engagement
I mean, due to several factors that are key to the centralization, first of all. And then as we are present in different governances, I think we can leverage that towards what's working, what's not working and just see what can we implement to the Lido Dao and keeping it efficient in the process, let's say. Actually delegation programs is something we are really focusing on right now with the arbitrary experience. We are designing some other programs. So it's something we like to see in Lido as participants and just, you know, contribute to the success of the program. Also as we are part of the SDVT and CSM modules, I guess we have the point of view of the operators as well, which is super interesting, you know, to make contributions and I guess we cover both ends, right. On participating and being present in governance.
Impact of Contributions on DAO
So that and yeah, I mean, since we launched our public delegate platform back in June, we had 100% of participation and posted all of our rationales as well. So I guess we are a dedicated and passionate team and yeah, just wanting to contribute to the lab, to the DAO and lighthouse mission. So yeah. Thank you. Thank you. Hello. So I guess there are two parts to this question, right? So the first part is why should people delegate to me? I think it's a very simple answer, right? And also two parts to that. The first part is that nobody out there will care more about your bags than me. Okay. I am in the trenches with you as a token holder.
Community Engagement and Representation
So vote for me. I know how you feel. I know why your concerns. So I will do my best to represent you. The second element towards that is that I am also beyond the understanding. I also will be there to drive community engagement. I think that part is just one thing that I think I mentioned before, but I just want to reemphasize again, I think out there are a lot of delegates out there who have the technical expertise, who have other fields of knowledge. I am not here to value at beyond my means in those arenas. But what I do know and what I can do is to drive community engagement is to get the community excited again. I think that is what is required at this point in the juncture, especially with regards to governance, with regards to why you should vote for me now, the second thing is, what kind of lines would I vote towards?
Values and Voting Intentions
What would I. What are my values like? I think it's very much still aligned towards Lido. Right. So despite whatever I've just said, I think some people might think that I'm slightly crazy. No, I'm not crazy, I'm just very motivated. But towards those lines of my values is that I still believe that ethereum, it's a very important, decentralized and it has still to continue to be accessible and especially censorship resistant, especially given what we are seeing in the world today. If those things changes, then crypto is no longer a very unique asset class. It's just back to tradfi, which is not what I want to see. So I would tend to vote towards things like decentralization, keeping things accessible, censorship, resistance.
Educating the Community
And I think a big part of what I would be also doing would be to break down all this governance actions and make it easy for the community to actually understand so that they also can be involved in this decision and governance process. So that's it. Can I ask some additional questions? As an LDO holder, have you previously participated in the governance? I have made of some small comments here and there, but I haven't done any big push towards it. Why? Because like some of the. Well, I am basically a symptom of the problem, right? Which was there was a huge amount of apathy.
Recognizing Apathy in Governance
I had that too, and I could see it. And why am I doing something like this now? What made a change is that I recognize that this is apathy was a direct problem. And if everybody was just, if I continue to behave in that manner, then, you know, we wouldn't have a solution. So that's why I'm here today. Thank you. I would be really happy to see your contribution and to you in the help to engage more people in Lidar Dho governance, because I totally agree as a part of contributing that the Lida is a huge thing. And the governance of this, like, of the protocol, like Lida, need to have more community engagement, more community support, more community understanding.
Importance of Diverse Expertise
Thank you for sharing. And Mark. Hello here. Okay, so, in a nutshell, basically, if you want a technical delegate, I'm not for you, I won't be that person. But if you want to delegate to someone that has business mindset and also core crypto values such as decentralization, yes, I can be that person. Plus I'm also based in APAC, actually. So lots of echoes with what Deejen was saying there, but also with a very different approach. So why should people vote for me? I'm independent. As I said before, this is not my job, this is not my business.
Commitment to Lido's Success
I don't make money out of doing governance for daos. I just do it because I want Lido to thrive so I can continue to use it. So that's a bit selfish, but I stay with Lido and that's fine. And I also hold a fair amount of Lido myself, so I want to make sure this works. Also, I don't work for any other Defi protocol because basically, I don't have time with my tri fi job and then contributing to Lido. So on other protocols, I simply delegate to guys like left Eris Carapezas. So that would give you kind of an idea of what I think in terms of crypto values.
Unique Perspectives and Business Mindset
Then you asked also about unique perspectives. And here, what they bring, honestly, is the driveway part. So the business mindset, how to strategy, how to run operations efficiently, especially for companies that maybe don't have that much money, like many crypto companies do, making sure you are efficient and you use the best, you know, the money you have in the best possible way. And lastly, you asked about proposals, and probably would be a couple of things, really, but one is pragmatism, and I can give Betty's example here.
Pragmatism in Governance
So the reason why I really got, like, involved with Lidar, what made a difference was I still remember I was in the forum, you know, debating and going back and forth because we had this massive treasury in ETH, and it wasn't staked. And I could not understand why it was not staked, because we offer a staking product ourselves. So if Lido does not trust its own product, that would be worrying. But if it does, then it's very simple. Just take your eth with Lido, just turn it into staked ETH. And that was to me, no brainer.
Treasury Management and Operational Efficiency
And I was going back and forth in the forum, and eventually, and the treasury management committee was created, I got involved and we staked aid. And now that's generating decent amount of returns in terms of rewards. And that can pay for operations and make sure that the lido continues to work. Not that the lido necessarily needed the money, but this extends our Runway. And then the second one is, I like to see also more, as I said before, more focus on b, two b, like business institutions, because I think that it will be very important.
Focusing on Business Institutions
As I said, Lido definitely is doing really well on the reader front, but not so well there. And as an insider in drivei, I can tell businesses don't think that way. And the business I work for example, will never do staking with Lido, because there's things that in DeFi protocols are acceptable, are okay, that a traditional business with a board of directors that have to, you know, make sure they do what's best for their shareholders, that have fiduciary duties, well, they cannot accept, they cannot work for a Defi.
Challenges for Traditional Businesses
There are sayings out there, no one could ever fight for hiring Goldman Sachs or McKinsey, something like that. Well, no one got ever fired for staking with Coinbase, but that's not the future I want. I would like to see also businesses staking with Lido and not with centralized providers. That's it in a nutshell for me. Thank you. Thank you. And I wanted to highlight from my side, and probably from the side of committee, who worked on the delegation framework proposal, that it's really highly important to have diverse set of delegates, to have different expertise involved.
The Need for Diverse Delegation
And to have like, business expertise and possibility to have questions and resources from the inspired, from the business people in same time, to keep it secure, to keep it thoughtful. It's really important to have same time deeply skilled tech expertise inside the delegate set or contributors, and moving to the questions from the audience. If anyone wanted to add something, feel free. And if you want to ask the question, please raise the hand and I will let you as a speaker and make it able for you to ask questions.
Audience Engagement and Questions
Looks like everyone liked to listen and no one like to ask. Let's wait a few more seconds. To be honest. I have one more question on my side that I wanted to ask in case that. Oh, I see the question. Feel free to. Can we ask questions as well then? Of course, of course. Sorry. Actually, I had a question for Ernesto, which, I mean, I think it's pretty cool. We have the LCD of BGD labs applying to the light of the legacy program.
Delegation Program and Community Development
I think that's major for a delegates program. So that's great.
NATO and BGD Experience
So I kind of wanted to know what was, like, your experience at NATO with, you know, BGD, working with the avedao. Like, how was that relationship, what things you saw, like, you know, being a service provider or what kind of experience you can share with us. I'm sorry for putting you on the spotlight.
Understanding the Complexity
No, it's fine. Of course. No, I mean, like, so, yeah, as you say, it's a bit complicated, like, and that is. So there were some comments, like, on, during this call on how certain initiatives, like, how delegates can help moving certain specific initiatives, like, of the Abadao, like the solo staking, like, or others. That is, of course, very important. But something that people really underestimate is that whenever you want to set up very, like, I mean, very legit, like, decentralized procedures, like, real decentralized procedures is very complicated.
Service Provider Challenges
Like, and if you ask, like, to any, like, of the current service providers of the appadao, like, they could explain you, like, very detail on why it's so complicated. Because at the end of the day, like, the DAO is just like. I mean, it's not an unincorporated entity, purely decentralized entity, which is like a bunch of smart contracts, actually, and everything that is surrounding them. So it's not only about you doing your job, like, when you are a service provider, like BD labs.
Cultural Contribution and Expectations
It's also that you need to help others very actively on, for certain guidelines of being very honest on what you think that there are certain lines that should not be crossed, like, and it's not any only about thinking about each other interests, like, as a company, because, I mean, at the end of the day, yeah, ve labs is just a company, but it's kind of contributing to something that is slightly bigger. Right. So creating that kind of culture and knowing, like, the practical nuances, like, when you do that, like, is something that very few people have experience with, like, because, I mean, the reality is that not many daos or not many protocols, like systems out there have the luxury of putting real resources, like, on this.
Influence of Lido and Others
So, yeah, I mean, Lido is, like, in a pretty similar situation as with AB to being able to put those resources. So it's just, for me, pretty natural to contribute. And at the same time, I just really like the contributors of the light of Dao is kind of a win. Yeah. Thank you. Thank you. I see the request and I will approve, buddy. Feel free to ask your question. It's connected. And anyway, if any other delegates have the questions to the other delegate, also feel free to ask.
Final Thoughts
So that sounds to me like the question. And I would propose the last final for the session. I would ask you just share what the most inspiring thing in Lida right now for you, like, what is some specific value or specific details that inspires you to contribute to data more? All right, Samuel, could you shut up? I think there's two that I can think of. The first is definitely the proposal to move towards dual governance. I've been waiting to see that since forever. And it's great that even sdeath holders can now participate in governance, which is very important because STD holders are major stakeholders in the ecosystem.
Lido's Governance and Security
It's again, one of the indications of how Lido prioritizes decentralization. Lido Dao didn't have to do this, and doing this, it will incur a lot of overheads. I can only imagine the coordination nightmare when it actually gets implemented. The other is how Lido is kind of unyielding in its belief that Steve should be highly secure and not give in to the pressures of. I wouldn't say restaking is bad, but restaking comes with a lot of risks. The newer liquid staking protocols, they tend to want to take more risk in order to be able to compete with the incumbents and the thought leaders.
Dedication to Mission
At Lido Dao, we are always very clear on the mission and the purpose and the positioning. And it's not when the wind changes, blows in another direction and then we all scramble to get on board. I think it's because of this clear direction that I'm quite motivated in trying to and wanting to contribute actively and help to continue to shape things in the right direction. Thank you. Thank you, Valentin. I would expect that it would be the DVT technology using, but.
Innovative Approaches
Yeah, you're right. This trade off that I mentioned between decentralization and efficiency, it's an interesting one, and it's something that's currently happening. It's interesting to observe the data, how it's developing and all that, and how we are going to handle, for example, cases if there is a drop in efficiency or something like this. So that's definitely one part. And the other part that I would say that is also kind of interesting. But I think there is, I don't think there is like a very clear plan for it at the moment is restaking how potentially this could be incorporated in some form in lido.
Excitement About Future Developments
And, yeah, I mean, this is something that really needs to be taught on. There are a couple of approaches, I guess. Personally, I'm kind of excited about the approach that symbiotic is taking about, like putting these compartments and being able to put the risk in different compartments. But yeah, I mean, it's something that needs to be taught and done properly. Thank you. Yeah. Let me just add also on the Daedalus side, also, I'm a bit biased here, but because I started not long ago contributing to the concept of alliance in Lido and trying to shape that started being discussed on the forum a couple of months ago.
Valuable Ecosystem Contributions
So I think also it's that like the ethers that lite is holding on, the security and decentralization of the ethereum that it's trying to kind of build through this alliance concept that is in the shaping and forming as we speak is something that excites me personally, that I think that can do tremendous value for the general ecosystem of the Ethereum and all of the scaling solutions and so on and so forth. Thank you. Thank you. And Ernesta, what is inspiring you? What is your thing that the most important movement in Leiden right now?
Key Interests in Dual Governance
Yeah, I think just to go into the specifics, I agree with Samuel that probably the dual governance will be short, medium term. The aspect that for me is the most interesting because, I mean, it involves both technical aspects of having two tokens that have a very important role in the library, but at the same time it will create like high level, non technical consequences which are difficult to predict on how it will be like. Because you have quite different profile between ST eight holders versus LDO holders, it can be quite interesting to see how the dynamics of that play outd like, and have some kind of role on the discussions around them.
Attractive Governance Topics
Yeah, yeah. There is like multiple other things that are interesting, like the push on the solo staking and so on. But like, I personally, I feel that the governance is quite attractive topic by itself. Ken Valet. Thank you. Contributor and the Dao OPD tech team working on dual governance is really attractive and complex and really inspiring. Part of the lighter devil and Eve. Yeah, yeah, of course, dual governance, I think we are all expecting to see how that unfolds because it's kind of game changing.
Inspiration from Lido's Role
So that's amazing. But what I was going to say is that what inspires me about Lido is like, back in the day when I was learning about blockchain validators and Lido, I had this question, like, if you had all of these companies that run validators, right, they have the know how, the infrastructure, the knowledge, the money. Like, why would you risk that operation on a random person in their bedroom running a validator? Right? So kind of the answer was like, what do you think the centralization is?
Lido's Impact on Solo Stakers
And that really stuck to me and something. And I think the role light of plays to solo stakers, it's amazing. And I think that it's inspiring as well. So I'd love to see, of course, the ESDVT and the CS module role as well. So. Yeah. Yeah. Yeah. Also waiting like this is too big. Decentralization initiatives, dual governance and the community staking module is both really inspiring. All right, moving to the decan trading.
Community Engagement
Hello. So I'm going to go with a little bit of an unconventional answer here. I think what really inspires me so far, what I've seen is that if you take a look at it at this current Q and A, we actually still have people that are not delegates. That is, we still have a community that cares about Lido, that cares about the direction that Lido is going towards. That to me actually is very heartening. Why? Because for all instances, if you look at general token communities, whenever price is down, people give up, people leave.
Positive Community Sentiment
But what is heartening for me to see is actually that people are tuning in to listen and they care about it. And I also know that there are a bunch of listeners, here, that specifically tune in just to see, you know, what kind of changes, that the dao potentially, could potentially, introduce. And basically they care about Lido steel. So that to me is very heartening. Right? I mean, ignore the policy proposals, because why? Policy proposals are important.
Importance of Community Participation
But at the heart of it, what you do need is that engagement from the community, that participation, because with enough engagement, with enough participation, and of course here I'm assuming that everybody acts in good faith, right. Then you are going to generally get good proposals, good governance. Good governance is a result of a good process. And here I'm breath heartened to see the building blocks and the elements of that process, which is that people still care.
Conclusion on Positive Outlook
So that to me, I mean, makes me very happy. It happens to, it heartens me and I think that is a very positive. Thank you. Thank you for sharing. Yeah, I agree. It's also really important here and it need to be, it need to work in the governance and the mark. Yeah. So what inspires me is that Lido has created an amazing product. It's really good.
User Experience and Dual Governance
And I don't need to tell all of you what you can do with Lido because you probably stake yourself or use it, but it's good and easy. It's a great user experience and has this security focus that ensures there's no troubles and we can continue to use it securely and make it a good option for stake if you don't want to run your own machines. In terms of what I look forward would be also dual governance, I think that one's pretty important.
Problem Solving and Stakeholder Interests
And it kind of like, you know, it kind of attacks like, part of the issue we're solving here today, which is that lido holders don't participate that much. And it could be for many reasons. It could because they maybe have LDo in their exchanges, right? And they can't even participate. But certainly, like stake if users also have, like, vested interests in making sure that this works well. So I'm keen to see how we.
Looking Ahead
How we work out a solution that works well for everyone and.Yeah, that bit. Thank you. Thank you guys for participating. I think that an hour of discussion is really on great timing. And I was happy to have you here today. Wanted to. To remind everyone who listening now, who will listen later, that the delegation rally is ongoing now and you can choose delegate, and delegate to support someone with.
Engagement and Governance Participation
Aligned with you, by values, by vision, by wishes for Lidar. Please, please, please. Checking the delegate list, asking questions and participating in the governance. That's it for today. Thank you, everyone for coming, and see you later. Thank you. Thank you, Dania. Thank you, everyone.
