Lido DAO

• Optimization of LDO in LEGO budget: Reviewing historical data, we noticed 60% of grantees requested to be paid in stablecoins. In order to meet this demand efficiently, we will switch to requesting 40% of the budget in LDO and 60% in DAI from the DAO. This is a compromise to decrease selling pressure on LDO from grantees who have working capital needs in fiat currencies, but keeps the possibility for contributors to partake in developing the overall ecosystem. • We propose to fix LEGO budget at $500k level - historical average spending for 9 previous months. At the beginning of each quarter 40% LDO part of the budget will be calculated using 30d TWAP at the day of Easy Track movement creation, the rest refilled with DAI from the treasury. • Individual allowances to be recalculated each quarter: USD equivalent using 30d TWAP is calculated for 15k and 10k LDO (council and nominees respectively), if the wallet of LEGO member has higher or equal balance than calculated allowance - it doesn’t get a refill. Current estimated refill amount and individual allowances for Q4 are following (to be updated on the day of refill if the voting passes):

This Snapshot passing means that DAO approves above mentioned changes to the structure of LEGO budget and Q4 22 refill can be made accordingly. Next quarters refill to be made via Easy Track using the same calculation rules.

Link to proposal: https://research.lido.fi/t/lego-q3-report-proposal-to-diversify-lego-budget/3002