[RECAP] SUMR Staking Community Call #1

Thanks to everyone who joined the first SUMR Staking Community Call. This session marked an important milestone for the Lazy Summer DAO, covering the official launch of Staking V2, the transition toward Governance V2, and a key step in preparation for SUMR transferability in January 2026.

📺 Full recap recording on YouTube:

Context & Purpose of the Call

The goal of the call was threefold:

• Walk through Staking V2 live, end-to-end, so participants could understand how the new system works in practice.
• Explain why this upgrade matters now, particularly in the context of governance maturity and the upcoming transferability event.
• Give delegates the floor to introduce themselves and outline how they plan to represent stakers going forward.

Staking V2: What’s New

The call opened with a high-level overview of the changes introduced with Staking V2.

Key features include:

• Lock buckets with multipliers

Longer lock durations result in higher multipliers, increasing both voting power and reward share.

• Dual rewards

1. Ongoing SUMR emissions
2. A USDC protocol revenue share, distributed as LV USDC vault tokens (Base USDC LR)

• No voting decay
  Governance power no longer erodes over time due to inactivity.
• Early withdrawal penalties
  Early exits are permitted, with penalties applied via a declining glide path to balance flexibility with long-term alignment.
• Multiple lock positions
  Users can create multiple lock strategies simultaneously, supporting long-term governance participation, medium-term yield focus, or 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: Staking V2 UI Demo

A full live demo of the Staking V2 interface was provided by @samehueasyou, covering:

• Unstaking from Staking V1
• Creating new lock positions
• Understanding bucket capacity constraints
• Selecting lock duration and viewing multiplier impact
• Confirming early withdrawal penalties
• Delegating voting power
• 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

A significant portion of the call focused on timing.

Staking V2 does not exist in isolation:

• With SUMR transferability approximately six weeks away
• How much SUMR is locked, for how long, and by whom will:
  • Shape governance distribution
  • Influence circulating supply at TGE
  • Affect market perception and liquidity dynamics
• 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

Summer.fi CEO Chris Bradbury explained how protocol revenue flows to stakers under Staking V2.

• 20% of protocol revenue is distributed to stakers on a monthly basis
• Revenue sources include:
  • Public Lazy Vaults
  • Institutional vaults (which carry higher margins)
• Revenue is:
  • Bridged to Base
  • Converted to USDC
  • Distributed via MERKL as LV USDC vault tokens (Base USDC LR Vault)
  • Rewards are weighted by boosted staking balance, not raw SUMR holdings.

Importantly,

• USDC rewards continue earning yield inside the vault until claimed
• The more TVL → the more revenue → the more staker rewards
• 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

Several questions addressed the current governance setup.

Current state:

• Governance V1 and Governance V2 are running in parallel
• Governance V2 requires:
  • 25 unique delegate addresses
  • 50M stSUMR voting power (currently ~105M)

Once reached:

• Foundation authorizes Governance V2  ✔
• A test proposal is executed {PENDING}
• Governance V1 is formally sunset (once no proposals are in flight) {NEXT UP}

Full Governance V2 activation is expected soon.

Delegate Pitches

Recognized delegates were invited to present directly to the community.

Highlights included:

• StableLab
  Governance analytics, incentive design, and active participation across major DAOs, with a focus on transparent voting and long-term protocol success.
• Techsqrt
  Labs Co data engineer maintaining governance dashboards and analytics, focused on data-driven decision-making, clear vote rationales, and public accountability.

Additional delegates are encouraged to share written statements in the Delegates thread.

KPK Vaults & Risk Clarifications

Giel addressed questions around recent SIPs and vault adjustments:

• Confirmed removal of higher-risk markets (e.g. eETH+) from the strategy
• Adjusted caps and allocations following BlockAnalitica feedback
• Emphasized continuous monitoring and upcoming public dashboards
• Reaffirmed intent to keep the vault within lower-risk parameters

These clarifications helped unblock several pending delegate decisions.

Transferability Readiness Check

The call closed with a high-level status overview:

• ✔ Governance V2 contracts deployed
• ✔ Staking V2 live
• 🟡 Delegation distribution forming
• 🟡 Risk reviews ongoing
• 🟡 Messaging and launch materials in progress
• 🟡 Governance migration nearing completion

Staking V2 was one of the final major prerequisites, and it’s now live.

Closing Thoughts

Lazy Summer governance continues to mature through:

• Structure
• Transparency
• Incentive alignment
• Real economic participation

Staking V2 gives the community tools to shape governance before transferability, not after.

If you haven’t yet:

• Stake your SUMR
• Choose a lock strategy
• Delegate thoughtfully or step forward as a delegate

As always, feel free to reach out if you have questions or want help getting involved.

Thanks again to everyone who joined, and see you on the next call.

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Disclaimer: Oazo Apps Limited functions solely as a front-end interface (Summer.fi) provider and it does not act on behalf of any user. Oazo Apps Limited did not launch nor does it operate or control the Lazy Summer Protocol. The Lazy Summer Protocol is accessed through Summer.fi. The information provided herein is provided on behalf of the Lazy Summer Foundation which launched the Protocol for informational purposes only and it does not constitute investment advice. Oazo Apps Limited and the Lazy Summer Foundation are not soliciting or recommending any transaction or guaranteeing any specific returns. Users interact with the Protocol at their own risk. T&C for the use of Summer.fi apply.