1. Overview:
This proposal continues the delegate compensation program first approved in [SIP5.6], this time applying it to May 2026. The goal is to sustain high-quality governance engagement and reward meaningful participation from active delegates across Lazy Summer Protocol governance.
Starting from April 2026, the Lazy Summer DAO has approved of Delegate Rewards Framework V2 via https://forum.summer.fi/t/sip5-23-delegate-rewards-framework-v2/793 - with the month of May following the newly setup guidelines for rewards distribution.
Extending [SIP3.11.7] (April Distribution) to [SIP3.11.8] (May Distribution).
This proposal includes the 5th distribution of rewards to Aerodrome Metagovernance signers.
2. Motivation:
Active and accountable delegates remain a cornerstone of protocol governance. May 2026 focused on vault rewards emissions, SUMR staking rewards distribution, setting up deposit caps for dao-risk-managed ETH vault, and adding Origin OUSD ark. Compensating delegates for their time and contributions ensures continued accountability and engagement.
3. Specification:
| Item | Value |
|---|
| Rewards Token | SUMR |
| Delegate Rewards | 551,217.27 SUMR |
| Source of Delegate Rewards | Delegate Rewards Multisig (Base) |
| Aerodrome Signer Rewards | 229,673.86 SUMR + 500 USDC |
| Source of Aerodrome Signer Rewards | Lazy Summer DAO Treasury (Base) |
| Total Distribution Amount | 780,891.14 SUMR & 500 USDC |
| Distribution Schedule | One-time disbursement following onchain approval |
| Eligibility Period | May 1st – May 31th (2026) |
| Distribution Method | Direct transfer to verified delegate wallet addresses |
3.1 Aerodrome Metagovernance Stipend
As covered in the [SIP5.18] the Aerodrome Metagovernance signers requested to include a monthly payment. Labs Co team members (@chrisb, @halaprix, @jensei) has confirmed waiver of their stipend - therefore, the DAO spending on monthly payment now includes @MasterMojo and @Sixty in May delegate rewards distribution.
3.1.1 Stipend Calculation Methodology
- Daily Prices & Volumes Used
| Date | Volume (USD) | Close Price (USD) |
|---|
| 2026-05-06 | 3,677.71 | 0.00193524 |
| 2026-05-07 | 1,898.80 | 0.00234942 |
| 2026-05-08 | 17,563.62 | 0.00232230 |
| 2026-05-09 | 2,564.38 | 0.00232259 |
| 2026-05-10 | 375.79 | 0.00223431 |
| 2026-05-11 | 561.73 | 0.00218562 |
| 2026-05-12 | 268.83 | 0.00229696 |
| 2026-05-13 | 44.00 | 0.00214259 |
| 2026-05-14 | 21,341.00 | 0.00214861 |
| 2026-05-15 | 929.85 | 0.00201926 |
| 2026-05-16 | 2,121.79 | 0.00202239 |
| 2026-05-17 | 422.53 | 0.00207100 |
| 2026-05-18 | 73.27 | 0.00201721 |
| 2026-05-19 | 137.96 | 0.00198124 |
| 2026-05-20 | 834.12 | 0.00190266 |
| 2026-05-21 | 1,197.50 | 0.00187461 |
| 2026-05-22 | 783.16 | 0.00189323 |
| 2026-05-23 | 93.92 | 0.00188097 |
| 2026-05-24 | 554.15 | 0.00186134 |
| 2026-05-25 | 259.29 | 0.00183417 |
| 2026-05-26 | 529.73 | 0.00185076 |
Source dataset: CoinGecko historical export.
- Volume-Weighted Average Trading Price (VWAP)
For VWAP we need price×volume. We will exclude first and last 5 days of the month from the VWAP weighting* (meaning VWAP is for May 05-26).
VWAP (May 05–26) ≈ $0.002177
- Convert $250 to SUMR
- 250/0.00293 ≈ 114,836.93 SUMR
- Transfer 250 USDC to each signer to lift up the strain on SUMR in the DAO Treasury (Total 500 USDC).
4. Risk Assessment:
- Onchain vote will authorize SUMR disbursement from the DAO Treasury to Aerodrome Signers.
- Delegate rewards according to the framework V2 will be disbursed from the Delegate Rewards Multisig established for this purpose.
- Delegate participation data was sourced from the Lazy Summer Governance Dashboard.
- The final delegate list and breakdown is made publicly available here.
- The final delegate PRS Score analysis was delivered by @Curia and can be found here
- Any entity may only receive compensation through a single verified delegate address.
- Suspected Sybil delegates will be excluded, subject to verification by @Recognized_Delegates and @Curia.
5. Voting:
If YES - Approve 229,673.86 SUMR & 500 USDC disbursement to Aerodrome Metagovernance May signers. Delegate Rewards 551,217.27 SUMR will be distributed via multisig.
If NO - Do not compensate for May; continue with further discussion.
Tagging @Recognized_Delegates for a check up as always.
–jensei
