Lido for Solana is part of the Lido Decentralized Autonomous Organization (Lido DAO) which governs and enables the development of liquid staking solutions on different blockchains. The first liquid staking protocol solution was built for Ethereum — and now Lido is expanding to different blockchain networks.
- The long-term goals for Lido for Solana are decided on by the Lido community through the Lido DAO.
- The validator set for Lido for Solana is determined by the Lido Node Operator Subgovernance Group on behalf of the Lido DAO. Any validator can apply, see also the validator admission docs.
- Admininistration rights reside with a 4-out-of-7 multisig that consists of established validators and ecosystem partners. The role of this multisig is to execute decisions made by the Lido DAO, not to make independent decisions.
The Lido DAO
The Lido DAO is the deciding authority on the various parameters of the ecosystem. The DAO decides on fees, the validator set, etc. It is in the DAO’s charter to make the system run smoothly and it does so through the process of voting. Holders of the LDO governance token can vote on proposals, either on-chain through Aragon, or off-chain through Snapshot. For example, the proposal by Chorus One to build Lido for Solana was accepted through a unanimous Snapshot vote in favor of the proposal. Before proposals are put up for voting, they are discussed on the Lido forum.