Lido Community Rejects the Sale of 10 Million LDO Tokens to Dragonfly Capital
The community of platform Lido Finance has voted against a proposal to sell 10 million LDO tokens to venture capital firm Dragonfly Capital.
According to the proposal:
“The DAO seeks to create a position in the DAI stablecoin in exchange for 1% of the LDO supply (10 million tokens) at a price of $1.452153, with a total value of $14,521,530 $DAI.”
The voting has lasted from 21 to 25 July and was attended by about 600 members of the DAO. 43 million LDOs (66.61%) voted against.
The proposed token sale was part of a plan to diversify Lido’s treasury, which envisaged the sale of 20 million LDOs, of which half was to go to Dragonfly Capital. In this case, no lockup period was provided.
The current volume of assets in Lido’s treasury is $223.3 million, including: 157.8 million LDO worth $216 million, 20,940 ETH worth $29.7 million and 5,113 stETH worth $7.11 million.
