Description:
Lido opens the door for DAO money management in the bear market buffer.
Short News:
Lido Finance DAO has proposed diversifying its treasury’s assets to protect against market conditions.
The plan should ensure Lido DAO has adequate funds for two years of operations.
Sub:
“Lido advised selling 2% of DAO’s LDO.”
Lido proposed selling 2% of the DAO’s LDO token. The token’s 7-day TWAP will be under a 50% premium or $1.45 per token. LDO was $1.50 Thursday.
Dragonfly Capital, a digital asset-focused VC firm, is in the running to buy a large number of tokens, according to Lido.
Adam Cochran, the general partner at Cinneamhain Ventures, said Blockworks the deal is overpriced.
According to Token Terminal, $237 million of LDO’s treasury is its native token. USD Coin has $366.
Despite price differences, Cochran said Dragonfly should invest in the turbulent sector.