Lido DAO considers selling 30 million USD worth of ETH

Lido DAO voter is discussing a proposal to sell or staking Ethereum in his treasury. The DAO currently holds 20,304 ETH, worth about $30 million.

Lido DAO considers selling 30 million USD worth of ETH

The Lido community is putting on a duo scale propose Administered by Steakhouse Financial, the unit responsible for financial management for Lido DAO, proposed the project to staking or sell the Ethereum holdings in its treasury.

Accordingly, the organization is considering two main options:

  • Suggestion 1: It is recommended to sell all or part of ETH, get stablecoin to scale the project. If you agree to sell a part, then bring the remaining ETH to staking profitably.
  • Suggestion 2: Staking all ETH holdings.

In addition, there are also members promoting to bring ETH to provide liquidity on Curve or buy NFT. But the recommendations will have to go through the voting process to have the final result.

Lido DAO currently owns 20,304 ETH (equivalent to $30 million) out of a total of $350 million in treasury assets. These funds have been held in the project’s Aragon contract since the implementation of the treasury diversification strategy in April 2022.

Lido DAO Treasury as of 15/02/2023

Lido Finance is currently the largest liquid staking solution in the crypto industry, accounting for about 30% of the market share.

Synthetic Kyptos

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img