Friday, August 12, 2022
No menu items!

Lido proposes selling 2% of LDO to fund the DAO for two years.

Must Read

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Spider-Man Remastered Supports DLSS, Ultrawide Monitors

Description: The Spider-Man Remastered Version Provides Support DLSS, Ultrawide Monitors Short News:Spider-Man Remastered is coming to PCs shortly, and the official...

More Articles Like This