Lido DAO

Rated Labs, a third-party member of the Lido on Ethereum Oracle set, has expressed their intention to depart from the Lido oracle set. The transition is expected to occur in Q3 2024.

MatrixedLink has expressed their desire to replace Rated Labs in the Oracle set.

Currently, there are 9 members in the Lido on Ethereum Oracle set, with 5 participating in the Curated Set of Node Operators and the remaining 4 being 3rd party oracles. If Rated Labs is replaced by MatrixedLink, the balance between Curated NOs and other parties in the Oracle set will not change.

MatrixedLink currently successfully operates Ethereum validators within the Lido Simple DVT module on mainnet. And MatrixedLink participated in the last onboarding round, but was not chosen due to the DAO’s decision to onboard 4 new participants instead of 6. That is why MatrixedLink already participated in testnets and is familiar with the requirements of maintaining the oracle infrastructure.

This proposal offers two options for tokenholders:

1. to rotate Rated Labs for MatrixedLink in the Accounting Oracle and Validator Exit Bus Oracle contracts (and keep the quorum as is, 5/9), or
2. to remove Rated Labs from the Oracle set (and change the required quorum from 5/9 to 5/8).

In case the DAO approves this snapshot, the next step will be on-chain voting for

• in case Option 1. passes, execution of the oracles rotation, or
• in case Option 2. passes, removing Rated from the Oracle set.