Proposed Structure & Process for Liquidity Committee/Team

1. **Deliverables**:
a. Post wstETH rewards blog post and twitter announcement thread (carryover);
b. Produce report on baseline liquidity needed on mainnet to support (w)stETH's collateral integrations (done in collaboration with analytics, delta one, and the risk advisors), as well as a live dashboard for the same metric.
c. Document and processualize the liquidity expansion strategy on new chain/ecosystems expansions: justifiable amounts, the DeFi BD playbook of pool incentives -> oracle spin up -> lending/cdp listings, and why it can be a fair use of incentives.
d. Handhold Delta One's first three months' research/build directions, contributions, and deliverables.
"Continuous" deliverables:
e. Continue to draft and publish reWARDs budgets and budget updates as long as onchain rewards exist.
f. Coordinate, account and execute transactions for everything related to rewards;

4. New **statement of purpose/objectives** for this team
a. Covering the reWARDs committee's but broadened to also include offchain liquidity, to reflect that onchain liquidity is no longer the must-have it was pre-v2 and what its use cases are now.
b. Work so as to guarantee base level onchain liquidity across the chains in which stAssets are on that enable DeFi integrations to happen healthily.
c. Work so as to guarantee sufficient offchain liquidity so that offchain applications and organizations can support, access or utilize Lido's stAssets.

3. Proposed **team structure & composition**
a. As it is very cross funcional we should keep a structure following Lido committees' instead of Lido's teams. (People from different teams involved part time)
b. Carvas, McNut, Marin, Paul Sengh, Greg Stepanov, Sam_M/Yulia Formina
c. This composition would cover the broad scope of knowledge and interested stakeholders required: onchain strategy, offchain strategy, financial considerations, techical integrations, operations and analytics. It is difficult to work on stAssets liquidity if missing any one of these areas.

8. **Liquidity Requirements** & Targets methodology:
a. [To be filled out quantitatively once we receive Delta One's model on this]
a. Onchain liquidity is necessary to support stETH's DeFi integrations, most importantly, as collateral. To arrive at exact needs for onchain liquidity, point 1.b. needs to be produced.
b. Offchain liquidity is necessary for liquid funds and large traders to opt into trading stETH pairs instead of ETH pairs, and to allow/sustain CEX listings

10. Propose budgeting ruleset for monthly cadence
a. Same schedule as the past months (once stETH Easytracks are live), but with a formal window opened for inbound proposals processing and decision-making, and another for external recommendations (Delta One's most likely, but can be analytics)
. 16th-18th: Voting on new proposals (from us contributors or inbound);
. From 19th: external recommendations;
. 20th-23rd: Internal budgeting (liquidity committee or its operating PM);
. 6 days before month's end: Budget/allocations & updates post;
. 3 days before month's end: ET initiation;

11. Proposal review process and responsibilities