• A Lido Community member, lidomaxi, created a governance proposal to increase the utility of Lido’s native governance token (LDO) by introducing staking and a buyback program.
• The proposal includes an insurance fund for the Lido DAO as well as a revenue-sharing parameter that would redirect 20-50% of “future Lido DAO revenue from the protocol treasury to stakers of $LDO.”
• The proposal has received support from several community members, including Steakhouse and Hal Press.
Lido Community Proposes Staking & Buyback Plan for LDO Token
The Lido community has proposed a plan to increase the utility of its native governance token, $LDO, through staking and a buyback program. The proposal includes an insurance fund for the Lido DAO as well as a revenue-sharing parameter that would redirect 20-50% of “future Lido DAO revenue from the protocol treasury to stakers of $LDO.”
Jump Trading Moves Nearly 3 Million LDOs Worth $7.5 Million
Before this proposal was announced, Jump Trading moved nearly 3 million LDOs worth $7.5 million in two transactions to a new address according to data analytics firms Nansen and Arkham Intelligence. After this news was released, the price of $LDO surged nearly 15%.
Community Support for Proposal
The proposal has been met with positive reception from several community members, such as Steakhouse and Hal Press. Hal Press has commented on Twitter that if this plan is adopted it “would go a long way toward fixing [the] issue” with how tokens like $LDO have no accrued value beyond their initial issuance.
Revenue-Sharing Parameter Redirects Funds to Stakers
The most exciting aspect of this plan is the introduction of a revenue-sharing parameter which would direct 20-50% of future earnings made by the protocol back into stakers’ wallets who stake their LDOs. This could potentially be very profitable for those interested in taking advantage of these rewards offered by participating in this network’s ecosystem.
Jump Trading Move Signals Positive Momentum For LDOs
Jump Trading’s move signals positive momentum for LDOs and highlights its potential value in terms of both utility and returns on investment when compared with other cryptocurrencies or tokens currently available on the market today..