# \[RECAP\] Community Call #11: DAO-Managed Vaults Deep Dive & Delegate Rewards **URL:** \ **Category:** Governance Calls\ **Tags:** governance-call, delegate-comp, recap, governance, security\ **Created:** [February 13, 2026, 4:34pm UTC](https://forum.summer.fi/t/recap-community-call-11-dao-managed-vaults-deep-dive-delegate-rewards/722 "2026-02-13T16:34:04Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![jensei](https://yyz1.discourse-cdn.com/flex009/user_avatar/forum.summer.fi/jensei/32/69_2.png) [@jensei](https://forum.summer.fi/u/jensei)\ **Post date:** [February 13, 2026, 4:34pm UTC](https://forum.summer.fi/t/recap-community-call-11-dao-managed-vaults-deep-dive-delegate-rewards/722/1 "2026-02-13T16:34:04Z")
Thanks to everyone who joined **Community Call #11**. We went from reporting updates on the DAO-risk-managed vaults to actively designing governance, specifically, what a sustainable delegate compensation framework should look like as Lazy Summer matures. > **Announcement:** [Community Call #11: DAO-Managed Vaults Deep Dive & Delegate Rewards](https://forum.summer.fi/t/community-call-11-dao-managed-vaults-deep-dive-delegate-rewards/714) > **Recording:** [https://youtu.be/Kwad\_ZkMCl4](https://youtu.be/Kwad_ZkMCl4) * * * ### DAO-Managed Vaults & Risk Architecture: The DAO-Managed Vault framework introduces a governance-directed strategy layer, without weakening the conservative mandate of @BlockAnalitica. That separation was the core framing of this discussion. **BA Risk Curated Vaults (Block Analitica)** - Conservative - Capital preservation oriented - Strict risk caps - Safety-first framework **DAO Risk Curated Vaults** - Governance-directed - Higher volatility accepted - Explicitly opt-in risk - Transparent cap exposure This prevents pressure on Block Analitica to stretch its conservative mandate while allowing governance conviction to express itself in a structured way. A major portion of the call focused on cap mechanics. **Two levels exist:** - Ark-level caps → exposure within a single vault - Fleet-level caps → aggregate exposure across all vaults As Lazy Summer scales across chains and yield venues, fleet-level risk becomes critical. @BlockAnalitica emphasized: - Many caps remain intentionally conservative - Some markets are capped at zero - This creates yield divergence vs competitors - Raising caps must remain incremental and measurable > _Competitiveness must increase, but not through undisciplined expansion._ #### Risk Dashboard & Transparency @chrisb previewed the [risk table](https://summerfi.notion.site/3048cbaf47f8807c8d36ca0c68cf97c3?v=3048cbaf47f88069938f000c1175b458&pvs=143): - Clear cap visualization - Exposure tracking - Ark allocation transparency - Governance visibility into active limits #### Guardian Authority Clarified Guardians: - Can reduce a market cap to zero (remove exposure) - Cannot add new markets - Cannot increase caps Governance: - Proposes and approves markets - Defines expansion - Sets structural direction #### Rollout Sequencing Assuming proposal approvals: - Framework funded - Vault contracts deployed - Guardians added - Initial markets proposed publicly - Deposits opened Governance visibility precedes activation → [[SIP5.19] Engage BlockAnalitica to create the DAO Managed Vaults Risk Framework](https://forum.summer.fi/t/sip5-19-engage-blockanalitica-to-create-the-dao-managed-vaults-risk-framework/674) → [BA Labs Risk Framework for SummerFi DAO-Managed Fleets](https://forum.summer.fi/t/ba-labs-risk-framework-for-summerfi-dao-managed-fleets/717) → [[SIP6.1] Onboard DAO Risk Managed USDC Vault on Ethereum Mainnet](https://forum.summer.fi/t/sip6-1-onboard-dao-risk-managed-usdc-vault-on-ethereum-mainnet/720) * * * ### Delegate Framework V2 Workshop After capital governance, we turned inward: **How should delegate incentives evolve?** This was structured as a workshop and lead by @Curia. Several tensions exist: - Treasury sustainability - Uneven governance workload - Quorum fragility - Attendance vs contribution quality Currently: A small number of large delegates can determine quorum. If absent → governance slows; that could lead to structural fragility. What is compensation for: 1. Sustain high-quality governance 2. Strengthen decentralization 3. Align long-term incentives Voting alone is not sufficient contribution. High-value participation includes: - Forum analysis - Proposal drafting - Risk commentary - Thoughtful rationale - Cross-working-group collaboration But measuring quality remains difficult. Structural Options Discussed: Quarterly budget cap & tiered compensation (~$200–$300/month). - Based on contribution - More realistic for part-time governance - Below that range risks disengagement Not all SIPs require equal effort. In terms of payment format different options were discussed: - Unlocked SUMR - Locked / vested SUMR - Stablecoin (ideal but treasury constrained) - LVUSDC (longer-term concept) Trade-off: - SUMR payments → potential sell pressure - Stable payments → treasury strain - Locked rewards → alignment, less flexibility No final direction yet. [@Recognized\_Delegates](https://forum.summer.fi/groups/recognized_delegates) input needed. Explore the Miro board used during the workshop → [Miro](https://miro.com/app/board/uXjVGB1VQ9M=/) and input your thoughts there. #### Action Items - Participate in [Delegate Incentive](https://forum.summer.fi/t/delegate-responsibilities-next-steps-for-compensation-framework/568) exploration and Working Group led by @Curia. - Vote on [active](https://gov.summer.fi/) SIPs. - Continue forum discussion. * * * ### Closing Thoughts: Both halves of the call reflect the same shift: from reactive governance → to structural governance. We are designing: - Risk frameworks - Product segmentation - Incentive systems - Participation economics The question beneath it all: **Can we grow capital, complexity, and governance participation without sacrificing discipline?** If you want influence over these frameworks; engage now! This is the stage where structure is defined. Thanks to everyone who joined and contributed. See you on the next call. –jensei ---
**Author:** ![MasterMojo](https://yyz1.discourse-cdn.com/flex009/user_avatar/forum.summer.fi/mastermojo/32/8_2.png) [@MasterMojo](https://forum.summer.fi/u/MasterMojo)\ **Post date:** [February 23, 2026, 2:45pm UTC](https://forum.summer.fi/t/recap-community-call-11-dao-managed-vaults-deep-dive-delegate-rewards/722/2 "2026-02-23T14:45:14Z")
Some good thoughts already in the Miro board; I just added some additional over coffee this morning: [Miro](https://miro.com/app/board/uXjVGB1VQ9M=/)