Re: Should Lido use third party cover providers?
Starting another snapshot vote on the cover, as we need to have the quorum for the question. The previous one concluded mostly in favor of “don’t renew the cover, explore self-cover”, but only ~2.1% of the total votes have been cast.
Currently Lido has cover for 5% slashing penalties on ~90% of each operator’s stake (every operator has slightly different numbers here). The cover was bought from the dev team funds for ~66.3 ETH.
As discussed in the forum, Lido should make a decision around its next steps on cover.
This poll’s purpose is for token holders to signal how they think Lido should move forward with the cover paths as mentioned in the post.
Depending on the outcome, a follow-up vote may occur for deciding the implementation path.
Snapshot does not allow longer-form text in the poll choices so expanding here for clarity:
- Renew Cover: Re-purchase cover from Unslashed Finance
- Do not renew cover: Do not re-purchase cover from Unslashed Finance
- Do not renew cover and explore self-cover: Do not re-purchase cover from Unslashed Finance and explore self-cover (mechanism TBD given multiple potential avenues)
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xb842...F182B0 | 17.718M | Don't renew & explore selfcover |
 0x8b16...b9765B | 15M | Don't renew & explore selfcover |
 0x7eE0...36bb6C | 10.248M | Don't renew & explore selfcover |
 0x1109...CC43dA | 2.042M | Don't renew & explore selfcover |
 0x3225...1cbbef | 500,077 | Don't renew & explore selfcover |
VOTE POWER
Proposal Status
- Fri July 16 2021, 11:00 amVoting Period Starts
- Sat July 17 2021, 11:00 amEnd Voting Period
Current Results
1-Don't renew & explore selfcover
45.508M
2-Renew cover
57.405