Top up referral program's budget and reduce rewards to Ethereum referral program
01Summary
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02Description
Lido Referral Program achieved its goals in growing TVL (681K ETH rewarded stake).
At the moment 2/3 of the referral rewards pool is paid out (9.27M LDO) and will run out soon.
After discussion on Lido's governance forum(https://research.lido.fi/t/referral-program-reform/1907) I propose the following:
-Top up Lido's referral program budget back to 15 million LDO -Update the Ethereum referral program's terms and conditions to reduce referral rewards to a TWAP of 0.25% LDO per ETH staked(reward amount in LDO is calculated each payout week based on ETH/USD and LDO/USD 14 days)
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