Thanks to everyone who joined our first SUMR Staking Community Call. This was a milestone call for the Lazy Summer DAO, marking the official launch of Staking V2, the transition toward Governance V2, and a key step in preparation for SUMR transferability in January 2026.
Announcement: SUMR Staking Community Call #1
Recording: https://youtu.be/k8SX-Ee-DzM
Context & Purpose of the Call
This call was designed to do three things:
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Walk through Staking V2 live, end-to-end, so community could understand how the new system works in practice.
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Explain why this upgrade matters now, particularly in the context of governance maturity and the upcoming transferability event.
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Give delegates the floor to introduce themselves and share how they plan to represent stakers going forward.
Staking V2 and What’s New
We began with a high-level overview of what Staking V2 introduces:
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Lock buckets with multipliers
Longer locks → higher multipliers → greater share of rewards and voting power. -
Dual rewards
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Ongoing SUMR emissions
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USDC protocol revenue share, distributed as LV USDC vault tokens (Base USDC LR)
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No voting decay
Governance power no longer erodes over time due to inactivity. -
Early withdrawal penalties
Early exits are allowed but penalized via a declining glide path, balancing flexibility with long-term alignment. -
Multiple lock positions
Users can create several lock strategies (long-term governance, medium-term yield, shorter-term flexibility). -
Mandatory redelegation
After staking, users must actively delegate voting power to a delegate of their choice.
Staking V2: https://summer.fi/earn/staking
Governance V2: Tally | Lazy Summer DAO (Official) - V2
Live Walkthrough (UI Demo)
@samehueasyou provided a full live demo of the Staking V2 interface, covering:
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Unstaking from Staking V1
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Creating new lock positions
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Understanding bucket capacity constraints
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Selecting lock duration and viewing multiplier impact
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Confirming early withdrawal penalties
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Delegating voting power
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Tracking positions, rewards, and aggregate staking data
Staking V2 was designed to be transparent, flexible, and conviction-weighted, not a one-size-fits-all lock.
Why This Matters Now
We spent significant time zooming out on timing.
Staking V2 does not exist in isolation:
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We are ~6 weeks away from SUMR transferability
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How much SUMR is locked, for how long, and by whom will:
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Shape governance distribution
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Influence circulating supply at TGE
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Affect market perception and liquidity dynamics
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Staking V2 allows the DAO to set these conditions proactively, rather than reacting after SUMR becomes liquid.
This is about governance credibility before liquidity, not after.
USDC Revenue Share & the Flywheel
@chrisb explained how protocol revenue flows to stakers:
- 20% of protocol revenue is distributed to stakers on monthly basis.
Revenue from:
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Public Lazy Vaults
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Institutional vaults (which carry higher margins)
Revenue is:
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Bridged to Base
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Converted to USDC
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Distributed via MERKL as LV USDC vault tokens (Base USDC LR Vault)
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Rewards are weighted by boosted staking balance, not raw SUMR
Importantly:
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USDC rewards continue earning yield inside the vault until claimed
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The more TVL → the more revenue → the more staker rewards
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This creates a real growth-on-growth flywheel
Longer term, governance may shift from revenue share to earnings share as institutional revenue scales.
Governance V1 → V2 Transition
There were several questions around governance versions.
Current state:
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Governance V1 and V2 are running in parallel
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V2 requires:
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25 unique delegates
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50M stSUMR voting power (currently ~105M)
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Once reached:
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Foundation authorizes Governance V2
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A test proposal is executed {PENDING}
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Governance V1 is formally sunset (once no proposals are in flight) {NEXT UP}
Expectation: full V2 activation soon, likely within days, not weeks.
Delegate Pitches
@Recognized_Delegates were invited to present directly to the community.
Highlights included:
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@Raphael_Anode
Governance analytics, incentive design, and active participation across major DAOs. Commitment to transparent voting and long-term protocol success. -
@techsqrt
Labs Co data engineer maintaining governance dashboards and analytics. Focus on data-driven decision-making, clear voting rationales, and public accountability.
Additional delegates are encouraged to post written statements in the Delegates thread.
KPK Vaults & Risk Clarifications
Giel (@kpk) joined to address questions around recent SIPs:
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Confirmed removal of higher-risk markets (e.g. eETH+) from the strategy
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Adjusted caps and allocations following @BlockAnalitica feedback
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Emphasized continuous monitoring and upcoming public dashboards
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Reaffirmed intent to keep the vault within low-risk parameters
This real-time clarification helped unblock several pending delegate decisions.
Transferability Readiness Check
We closed with a status overview:
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Governance V2 contracts deployed
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Staking V2 live
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Delegation distribution forming -
Risk reviews ongoing
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Messaging & launch materials in progress
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Governance migration nearing completion
Staking V2 was one of the final major prerequisites, and it’s now live.
Closing Thoughts
Lazy Summer governance is maturing through:
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Structure
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Transparency
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Incentive alignment
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Real economic participation
Staking V2 gives the community tools to shape governance before transferability, not after.
If you haven’t yet:
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Stake your SUMR
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Choose your lock strategy
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Delegate thoughtfully (or step forward as a delegate yourself)
As always, feel free to reach out if you have questions or want help getting involved.
Thanks again to everyone who joined see you on the next call!
–jensei