Tally Unveils New Liquid Staked Governance Protocol

Token holders will be able to stake in the Tally Protocol and receive a Tally Liquid Staked Token (tLST) that earns rewards, can be used for financial utility anywhere in crypto, and allows them to maintain their governance power

NEW YORK--(BUSINESS WIRE)--Tally, the premier on-chain governance platform, today announced the Tally Protocol. The Tally Protocol makes it easy for governance token holders to take advantage of opportunities to earn staking and restaking rewards while maintaining their voting rights and liquidity. The protocol offers a powerful solution for DAOs seeking to engage and incentivize their token holders while ensuring the long-term sustainability of their communities.

“DAOs are an essential piece of on-chain infrastructure,” said Tally Chief Executive Officer Dennison Bertram. “Fixing the incentives in governance benefits both DAO token holders and delegates. This strengthens security and rewards the people and organizations who do the hard work of governance. We are thrilled to be building this crucial piece of infrastructure with the Tally Protocol.”

The protocol comes with several key features:

• DAO Alignment: While the Tally Protocol governs the tLST protocol layer, each tLST is owned and controlled by its respective DAO. This allows DAOs to set and adjust key parameters ensuring alignment between the protocol and the DAO.
• Governance Restaking: Governance token holders can stake their governance tokens with Tally and receive a liquid staked token in return that can be deposited in restaking systems. The Tally Protocol ensures the voting power associated with restaked governance tokens is delegated to active, DAO-aligned contributors.
• Standardized Token Design: The protocol generates uniform, standardized tLSTs that simplify integration for third parties such as exchanges and custodians, promoting adoption and liquidity.
• Modularity: The protocol supports various staking mechanisms and abstracts the underlying staking contracts via modules, allowing DAOs to experiment with different designs that suit their specific needs.
• Voting Power Redistribution: For tLST token holders that choose not to delegate their voting power, the protocol returns undelegated voting power to the DAO for redistribution to active delegates. Tokens that are locked in DeFi or restaking services automatically return their voting power to the DAO.
• Optimized Governance: Token holders have a financial incentive to hold their delegates accountable for effective governance.
• Fee Distribution: Protocol fees are shared among Tally, DAO delegates, and rebalancers (who manage the interface between tLSTs and underlying staking contracts) in a fair and aligned manner, creating a sustainable ecosystem.

The protocol's modular design and open architecture create a strong foundation for future innovation. As cryptocurrency and the blockchain industry continue to mature, new staking designs are bound to emerge with the participation and investment of large institutions. The Tally Protocol’s robust infrastructure is built to grow with the industry, enabling the future of safe, valuable, and decentralized digital governance.

The Tally Protocol will go live in the summer of 2024. To learn more, please visit www.tally.xyz.

About Tally:

Tally is the premier destination to run a Decentralized Autonomous Organization (DAO). Designed for operators, voters, and delegates, Tally powers L2s, protocols, treasuries and public goods with $20B+ of DAO assets and 200k+ delegations since inception. More than a governance service provider, Tally evangelizes your ecosystem to drive governance innovation.

To learn more, please visit www.tally.xyz.

Contacts

Media Contact
KCD PR for Tally
tally@kcdpr.com