Community Update: Enhancing Data Transparency and the Path Forward

[Leo-ObolAssoc]

We wanted to write this post to address recent discussions we have seen across the community. Whether from Delegates or the wider conversation in Discord, the demand for more verifiable data and greater transparency has been loud and clear. We acknowledge this feedback, and want to assure you that Obol fully embraces these values. It is a priority to fix data inconsistencies across public platforms and ensure the community has a clear view of the Obol’s health.

Here is an update on the steps that have already been taken and what is coming next.

1. Historical TVL Now Live on DefiLlama

One of the first steps we took was to work with the DefiLlama team to publish historical TVL for Obol in a verifiable and standardized way. This is now live.

You can head to DefiLlama and explore the full historical dataset showing the amount of ETH staked on Obol Distributed Validators. If you zoom out, the long-term trend is clearly upward. Several integrations and partnerships that are in the pipeline will surface in the coming weeks and months, further contributing to that trajectory.

2. Next Step: Public Fees & Revenue Metrics

The next major milestone with DefiLlama is to surface protocol fees and revenue publicly.

This is slightly more complex because Obol receives a mix of on-chain and off-chain revenue. Our data team is currently consolidating both sources into a format that is reliable and DefiLlama-compliant. You can expect this data to go live in the coming weeks.

Zooming out: Data quality and public metrics are a major focus for Obol, and you will see continued improvements across all surfaces.

3. On Token Allocations, Exchange Listings & Transparency

For questions regarding token allocations, Obol-owned addresses, or listing fees paid to exchanges, we want to remind the community of Obol’s participation in the Blockworks Token Transparency Report.

We are part of the few projects that proactively worked hard to align with industry standards for transparency. For Obol this is a starting point and we intend to share more over time.

Today, this report is an excellent source of truth and it even publicly details exactly how much was paid to get listed on centralized exchanges. We encourage everyone to review it.

4. Looking Ahead: Token & Governance (January

Beyond data, Obol is preparing for a major strategic phase in the new year. Starting January, you can expect a series of public discussions on the forum regarding:

• Token Utility & Economics: Thoughts and researched plans for the $OBOL token.

• Revisiting stOBOL (Staked $OBOL): Moving toward a mechanism that creates value for the ecosystem rather than extracting it.

• The Future of Governance: What governance means for Obol moving forward.

Obol is currently doing homework on these fronts. It is vital that these plans align with the evolving legal landscape, which moves slower than the tech. This is why Obol has not shared too much too early, but is committed to bringing these topics to a public forum discussion very soon.

5. Early Research: Obol Value Explorer

In the meantime, we are happy to attach a simulator we have been working on to this post.

This tool showcases some of the internal research and explorations Obol has done regarding how the protocol’s growth can lead to a positive flywheel effect for the token. Specifically, it takes a deep dive into Lido’s recent proposals for buybacks and liquidity supply to see how similar models might look for $OBOL. Obol is also conducting research to place $OBOL at the center of the Obol economy.

Please note: This is an exploration to share our thinking transparently, not a finalized proposal or commitment.

Feel free to experiment with the inputs, explore different scenarios, and give feedback.

6. Closing Thoughts

This post is just a first step. A lot of data is already public and verified; more is on the way.

And in January, we will begin a structured series of discussions covering token utility and design, governance evolution, and the future economic architecture of Obol with $OBOL at its center.

We won’t share more than what is responsible or legally allowed but we remain fully committed to transparency and to engaging the community meaningfully throughout this process.

Thanks again to everyone who has been asking questions, pushing for clarity, and contributing constructively.

Who’s ready to start 2026 full speed with Obol?

[cp0x]

Thank you for such a good report – it inspires optimism and demonstrates the project’s openness.

I also have a question related to Lido’s recent fee changes, as your project is closely related to them (I see that you have mentioned their proposal for buybacks):

• Will the Curated Module Fee Changes impact Obol’s profits? The changes are supposed to stimulate DVT usage, which is potentially good news for Obol?

[zwanzger.eth]

Thanks for taking the time to spell this out and the concrete steps with Defillama taken and in progress!

I appreciate both the transparency created and reassurance regarding the values. Looking forward to the mentioned further discourse to be expected.

It feels reassuring and I look forward to participating!

[AlexIT]

Thanks to the team for the update — it’s clear that you’re moving toward greater transparency in a structured way. Having historical TVL on DefiLlama and working on open metrics for fees and revenue are important steps. I also appreciate that you’re sharing not just finalized numbers but internal tools like the simulator — things like this really help the community understand the protocol’s design direction.

I’m also looking forward to the January discussions around tokenomics and the future architecture of $OBOL — it’s clear the approach is based on data and careful analysis rather than rushing decisions.

A quick question: do you plan to publish technical metrics about the state of the DVT network in a single place — for example, the number of operators, cluster growth over time, or distribution across configurations? Some of this data already appears in public sources, but it’s fairly fragmented. A unified dashboard would make it much easier to track the network’s progress.

Thanks again for the work — this update is genuinely encouraging.

[HomeValidator.eth]

Checkout http://obol.org/dashboard - we are constantly working to update this and improve!

[stefa2k]

@Leo-ObolAssoc

One of the first steps we took was to work with the DefiLlama team to publish historical TVL for Obol in a verifiable and standardized way. This is now live.

Thanks, this is good to have as a reference. The criticism by @pumper still stands though:

@pumper

My first question concerns the TVL. While we have all seen the major partnership announcements, the TVL has not increased for more than six months. Nearly half of the total TVL is attributable to Ether.fi, and they have also begun gradually withdrawing their validators. I would appreciate clarification on this point, as well an outlook regarding potential TVL growth.

In my opinion there are several reasons why TVL (in ETH) didn’t go up and even decreased:

• The current framework of pulling fees with traditional contracts from NO might be seen as complicated and intransparent

• Fees are high, especially in current highly competitive market conditions. For e.g. Lido curated set NOs this means they’ll spend roughly a third of their revenue on Obol’s fees. Incentives are crucial but will run out and with current OBOL token price are negligible.

@cp0x

Will the Curated Module Fee Changes impact Obol’s profits? The changes are supposed to stimulate DVT usage, which is potentially good news for Obol?

You voted in favor of the Lido CMv1, this will push Lido CM NO potentially away from DVTs like Obol.

@Leo-ObolAssoc

For questions regarding token allocations, Obol-owned addresses, or listing fees paid to exchanges, we want to remind the community of Obol’s participation in the Blockworks Token Transparency Report .

Thanks, that’s a good starting point.

@HomeValidator.eth

Checkout http://obol.org/dashboard - we are constantly working to update this and improve!

Link doesn’t work for me, I found this one though: Grafana

[blockful]

It is great to see Obol improving transparency around its activities and increasing the visibility of information about the protocol. The integration with DeFi Llama is an excellent first step.

We understand that the disclosure of new information on the DAO’s on-chain and off-chain revenue is scheduled for January, but when possible, it would be helpful to provide more clarity on the expected timeline for releasing this data.

Likewise, more details on improvements to the $OBOL token economics and the potential use of protocol revenue for token buybacks would be appreciated (in January).

[Leo-ObolAssoc]

Yes, Lido will be opening the curated set to DVs which is 10x the ETH of SDVT! We’re just getting started guys !

[StakeBroker]

Thanks for the update — it’s great to see steps toward improved transparency. Could you clarify when a public API or CSV access for historical TVL and revenue data (e.g. DeFiLlama / fees) might be available? This would greatly simplify external verification and analytics dashboards.