Lido opens the door for DAO money management in the bear market buffer.
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.
“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.