Türkiye 🇹🇷 & Syria 🇸🇾 are in a of state emergency.
If you want to contribute to the earthquake relief efforts, you can send your donations to this Ethereum address:
0xe1935271D1993434A1a59fE08f24891Dc5F398Cd
Funds will go directly to the NGO
@ahbap
Let's spread the word!🕊
📢 LEGO RFP: Ethereum Censorability Monitor
We're doing an open RFP to help us build a censorability meter for Ethereum.
Deadline is February 28th, where LEGO will aim to give out up to 7 grants 🏝️
RFP: Community Staking & Simple DVT Module Integrations
Lido contributors are inviting proposals from node/validator providers to develop integrations for community stakers to engage with the Lido Community Staking (CSM) and Simple DVT (SDVTM) modules.
DeFi development is a complex field to dive into and one could use a map to navigate it 🗺️
Thanks to
@officer_cia
, we now have the DeFi Developer Roadmap: .
Q3 of 2022 has come to an end and with that comes another quarterly LEGO report 🧱🏝️
See below for our most exciting achievements, grants, funding initiatives and more for the past few months.
Our LEGO grant recipient
@TempusFinance
is going to mainnet on December 15! 🏝️🧱
Tempus is building AMM-powered interest rate swaps and they are integrating with stETH as their first product offering.
An interesting web3 concept for weddings: Staking Registry
How it works:
• Friends and family can stake ETH as a wedding gift.
• As long as the couple stays married, they get to keep the rewards.
• If the couple gets divorced, the ETH and rewards get redistributed to
New grant distributed 🎯
The final grant has been sent to
@metrikaco
for their work on a MEV relay dashboard + alerts solution to optimise node operator relay performance.
Dashboard:
LEGO Q3 report is here 🧱
TLDR:
• $545.8k distributed.
• Research saw majority of grants ($250k), followed by Security ($100k) & Social Impact + Decentralisation ($85k).
• Largest grant to Nethermind for work on validator set maintenance.
Full report:
Excited to support
@miga_labs
in their effort to research Ethereum Consensus Layer (CL) client rewards⚡️
Allocated Budget: 93k DAI
Duration: 6 months
More info:
Phase 2: Complete ✅
The second phase of a multi-phase research project with
@NethermindEth
to develop a mechanism for decentralized maintenance of Lido’s operator set is here.
Ultimate goal: Allowing for permissionless onboarding of new node operators.
We’re excited to announce the completion of Phase 2 of our collaboration with
@lidofinance
!
This is part of a multi-phase research project, aiming to design a mechanism for decentralized maintenance of Lido’s operator set. The project is a step toward enabling Lido to
Grant completed 🎯🇪🇺
The European Blockchain Association has received a grant of 25,000 DAI to push PoS awareness and education amongst policy makers across the EU 🌍
Another day another round of grants 💸
@LidoGrants
has distributed 4 new grants to support Ethereum ecosystem development:
1. Vyper security measures
2. HAI codebase audit
3. DendrETH trustless oracle development for liquid staking
4. ZKLLVM ZK-proof TVL oracle
Lido Grants - Funding & Exploration of ZK-Proof Trustless Oracles 🔮
➡️
Through LEGO, Lido is funding initiatives to enhance oracle security. These grants aim to reduce risks, boost trustlessness, and align with Lido's decentralization principles
LEGO Proposal: Lido Governance Mapping Exercise 📋
A grant request for a community-driven analysis of the Lido token design, economics and governance has been shared with LEGO to improve understanding of current governance goals, dynamics and risks.
The first is a proposal to allocate 30,000 LDO to a '
@rabbithole_gg
stETH Quest' with the goal of growing the active Ethereum staking community, drive participants towards Lido and grow awareness surrounding Lido’s ETH staking capabilities.
A LEGO proposal for a research program to support Lido's future plans of permissionless node operator onboarding ⚡️
Thanks for the submission
@nethermindeth
- excited to see this go to a vote.
📰 Proposal by LEGO Council for the development of the 'Community Lifeguards Initiative' to push Lido further down the road towards a more open, diverse & permissionless operator set.
Another quarter down!
Q1 is over for LEGO and it's been busy! 🧱🏝️
- Mechanism for good validator set design w/
@nethermindeth
🧑🔧
- Filtering mechanism to identify solo stakers w/
@ratedw3b
🔎
- MEV Relay dashboard w/
@metrikaco
🖥️
- Earthquake relief efforts w/
@ETHGlobal
🇹🇷🇸🇾
👇
Q2: Complete ✅
Another quarter passed and it's time for a round-up:
- ETH censorability monitor 1 grant;
- Research to design a mechanism to identify solo-stakers on-chain by
@ratedw3b
;
-
@openblocklabs
objective-based incentive engine & analytics dashboard;
- Many more.
👇
A proposal has been shared to continue Lido's LEGO for Q1 2022: 🏝️
Please share any feedback, suggestions or improvements you'd like to see incorporated.
The first is a proposal to allocate 30,000 LDO to a '
@rabbithole_gg
stETH Quest' with the goal of growing the active Ethereum staking community, drive participants towards Lido and grow awareness surrounding Lido’s ETH staking capabilities.
A proposal has been shared to continue Lido's LEGO for Q1 2022: 🏝️
Please share any feedback, suggestions or improvements you'd like to see incorporated.
Attention Ethereum SOLO STAKERS!
🍄The [REGISTRATION PERIOD] of our 3# Update & Upkeep Challenge starts now und will last till the 28th of February (23:59 UTC)!
🍄 Sign up your most trusted validator, perform perfect and have the chance to win a price!
So, what's next?
• The LEGO budget remains at $500k with proposed change to consist of 20% LDO and 80% DAI.
• Individual allowances will be recalculated using a 30-day TWAP will be calculated for 15k and 10k LDO.
LEGO Q4 Recap 🧱
• $296.7k distributed.
• Protocol security led the race ($100k), then decentralisation support ($70.5k), audits ($50k) & research ($19k).
• Largest grants went to ZK Lido Oracle ($50k) & Vyper security measures ($50k).
Full report:
As always, let's connect if you're building out tools for the Ethereum staking ecosystem 🌐
Check out the full report and leave any questions, comments or feedback in the post below:
To support a multi-collateral RAI fork on Optimism (
@letsgetHAI
), 63k DAI have been granted to cover the costs of two comprehensive audits ⚔️
Grant covers the full audit by
@alex_pertsev
& half the
@SolidifiedHQ
audit.
Shoutout
@reflexerfinance
.
LEGO is happy to continue supporting research into Ethereum staking 🔎🏝️
Check out the full report from
@miga_labs
and keep your eyes open for an in-depth session where Miga researchers go over their results and answer your questions.
Undecided choosing which Eth2 client to run?
Desperate to know which one fits better for your use case?
Check out our latest medium post comparing the 6 Eth2 main clients:
Spoiler -> All of them work well
#ClientDiversity
🥳
🖥️ Integrations
As far as integrations, LEGO supported
@APWineFinance
- a protocol to tokenise, trade + hedge risk on future yield - and their integration of stETH 🍇
Lastly, LEGO is allocating 50k DAI to the
@nil_foundation
to build out a zkOracle to provide Lido’s accounting report with trust-minimized sanity checks.
💸 Grant Overview
Grant 1: 20k DAI - most useful meter tracking effects of Lido policies on Ethereum censorability.
Grant 2: 10k DAI - most useful meter tracking overall state of Ethereum censorability.
Grants 3-7: 2k DAI - best 5 solutions out of the rest of the participants.
🧱 Beachon Chain Grants
A boulder-sized grant was sent to
@RockLogicGmbH
for their work on SyncLink - a set of tools to sync Ethereum nodes and remove centralised checkpoint limitations.
Only projects with an open, public version by the time the RFP ends, together with a short freeform application in the thread above will be considered.
Send us a DM in case of questions ⚡️
Lido V2 also opens Lido development to external contributors from all corners of Ethereum.
Developers, project teams, and researchers will soon be able to contribute directly to Lido by proposing Staking Router modules.
Keep an eye on for more info.
Lido is supporting the development of a trustless oracle for all liquid staking protocols, led by DendrETH 🔮
50k DAI will be allocated towards this, with 50% up front and another 50% upon completion.
LEGO is happy to support the development & maintenance of the roadmap, and we hope to see many new smart contracts developers start their Web3 journey there 🏝️
A proposal has been submitted to top up the
@LidoGrants
treasury with 300,000 LDO to cover expenses related to bug bounties, event coordination, and more.
See full proposal here:
Through LEGO, Lido is helping fund
@vyperlang
security measures with 50k DAI going towards an audit competition and a commitment of 50k DAO towards a bug bounty program on current + historical compiler versions 🛡️
🔎 Research
As the largest category, Research saw a number of exciting initiatives incl:
- Design of a good validator set maintenance mechanism with
@nethermindeth
;
- A solo staker filter with
@ratedw3b
;
- ZK-proof TVL oracle with
@EugenyKolpakov
;
The second is a proposal to sponsor the
@StakingRewards
podcast for a 3 month period starting in Q1 2022 to spread awareness of the Lido staking ecosystem (Ethereum, Solana & Terra).
The vote to diversify the LEGO budget for Q4 has been re-launched for a second attempt due to overwhelming approval but failure to reach quorum.
Cast your vote here: 🏝️
Solution 2) Dendr
DendrETH from Metacraft Labs offers innovative approaches for liquid staking protocols. Open source solutions and verification are on the horizon, promoting decentralization and trust reduction.
Proposal:
Solution 1)
@nil_foundation
Lido users stake ETH and receive stETH. Rewards are based on an accounting report, which is verified by zk checks.
The solution involves a contract, an oracle, and a proof producer.
Proposal:
🧱 Research Grants
LEGO also distributed grants for research opportunities, the biggest one being to
@miga_labs
for their work on Ethereum Consensus Reward Analysis.
Adding to this,
@Alastor_ooo
was engaged to prepare an analysis of Lido’s treasury diversification proposal.
LEGO (aka the Lido Ecosystem Grants Organisation) is a
@LidoFinance
DAO program to fund initiatives which help grow Lido.
This is done through bounties, grants, developer incentives, infrastructure support and more.
Learn more or apply by visiting .
What does it mean for Lido users? Using Tempus, you will be able to receive a fixed-rate yield on your stETH.
As an LP, you can provide stETH to receive swap fees generated by Tempus. You can maintain exposure to your entire staking yield + get Tempus fees on top of it.
🔐 Why is trustless more secure?
A trustless solution ensures correctness without relying on oracle operators.
As long as the report passes all checks, it's considered legitimate, even if the sender could be compromised.
Looking back, +60% of LEGO grantees have requested funding in stablecoins.
To better accommodate this, we propose a switch of the LEGO budget proportion to 40% LDO / 60% DAI (from Lido treasury) to remove unnecessary LDO selling pressure whilst better accommodating grantees.
🧮 Analytical
With 120k allocated, Analytical tools + development saw grants incl:
- A MEV Relay dashboard + alerts solution with
@metrikaco
;
- Delivery of with the
@ratedw3b
team;
- Hosting + maintenance of Lido Validator Dashboard.
Moving forwards, the following changes are proposed:
- Yearly budget to improve efficiency of allocations.
- Keep the current LEGO council as an entity to decide on boulders and help prepare mountain-sized grants.
- The change of sums for grants to be 333, 3,333 & 33,333 rai.
💡 What’s the idea?
The goal is to report Lido's TVL data using trustless zero-knowledge proofs.
Trusted oracles can introduce risks and economic overhead. Zero-knowledge circuits offer a more secure, decentralized, and efficient solution.
LEGO was established to help support as wide a range of sectors as possible, and Q1 2023 was no exception:
🔎 Research: $394k
🧮 Analytical: $120k
🏥 Donations: $51k
🧑⚖️ Legal: $25k
🖥️ Integrations: $20k
With over $629K allocated to many different LEGO initiatives - 125.9% of the quarterly budget - this has been one of the most exciting quarters for LEGO to date ⚡️
More specifically, the goal of the Community Lifeguards Initiative is to increase & diversify operators participating in the Lido on Ethereum protocol following the launch of Lido V2 🏝️
⚡️ As Lido V2 introduces the infrastructure for new modules and expands its offering to the Ethereum staking community and solo stakers, a coordinated effort to unite all these parties becomes essential.
This is where the Community Lifeguards Initiative comes in 👇
A pilot for the initiative will run between Q2-Q4/23, at which point a decision should be made as to how to proceed.
Applications for the role will be open throughout the duration of the pilot provided the spots don't fill up 🔎
Many other grants were supported over the last quarter and we're thrilled with how busy LEGO was.
The goal of LEGO from day 1 has been to fund exciting projects in the simplest way possible and our efforts last quarter showcase how far we've come here ♥️🧱
🧱 Event Grants
Q3 2022 saw Lido go to Uganda! LEGO funded two meet ups organised by Abraham Mugisha to further awareness of Lido and PoS throughout the Ugandan crypto community.
🏥 Donations
The last quarter was not all joy however, with earthquakes devastating Turkey and Syria. Our hearts go out to all those affected by this tragedy and we hope our donations could help ease some of the pain just a little 🇸🇾🇹🇷
Thanks
@ETHGlobal
for your help here ♥️
🛣️ Next Steps
These grants mark a commitment to decentralization and increasing security.
ZK technology is evolving, and improvements will shape a more trustless future for Lido Protocol, where trustless data access is the norm, not the exception.
LEGO spent 268k LDO ($467.8k) in grants this past quarter – approximately 89% of the quarterly budget.
A slow July (EthCC prep + summer vaca?) slowed down the funding pace a little but a strong August made for a successful quarter.
Brief recap – LEGO is the Lido DAO grant initiative.
LEGO funds initiatives which strengthen and grow the blockchain space through dev incentives, bounties, infrastructure support and more.
Sounds interesting? Check out for info on how to get started.
A Snapshot vote on the topic will be held from October 6-12th and, if successful, an EasyTrack motion to top up the LEGO multi-sig will be initiated.
Voting link to be posted below when live ⚡️
🧱 Community Grants
The last major category of expenses came in the form of community grants. The primary grant here was for development on
@vyperlang
- a smart contract language for EVM - which is used heavily by the Lido core dev team.
👨💻 Ideally you have:
- A deep understanding of Ethereum staking and that of operating as a solo staker.
- Familiarity with Lido's vision.
- Experience creating educational content & simplifying complex topics.
- Interpersonal skills & good vibes.
The role can be part/full time.