Members of the Lido Finance staking service approved 2 million LDO (~$6 million) allocation to support Ethereum under Protocol Guild. The framework supports autonomous mechanisms for recruiting, retaining and rewarding developers.

The Protocol Guild is at the core of a new development-focused approach to financing public goods. L2.

Alternative solutions in the form of grants and retroactive funding schemes have important limitations, according to the participants of the structure. Because their design prioritizes project and team development, they are not forward-looking and do not provide value to individual contributors.

The Protocol Guild was created by more than 100 members of the Ethereum Core protocol from 21 different teams and 9 organizations. Only 30% of them work for the Ethereum Foundation.

Participants will seek sponsorship in the form of tokens from protocols that will enable them to count on further rewards on favorable terms. The distribution is planned to be carried out through a smart contract with a vesting period.

Recall that in April, Lido Finance announced the introduction of distributed validator technology and a scoring system to increase the decentralization of Beacon Chain.