Lido DAO Votes No to $14.5 Million LDO Sale

Lido Finance DAO, by majority, rejected an offer to sell 10 million LDO coins for $14.5 million to venture capital firm Dragonfly Capital.

According to the information in the Lido DAO, Lido Finance is under the treasury diversification plan. half would sell 20 million LDOs to venture capital firm Dragonfly Capital. However 25 July The offer of sale submitted to the DAO on denied.

Voting on July 25, representing 43 million Lido DAO (LDO) coins close to 600 DAO member’s proposal rejection ended with the vote. Ratio of the total votes cast of the red game 66% it happened. Just in total 21 million has LDO two addresses voted yes to the sale.

Lido’s 10 million LDO locking condition plan to sell to Dragonfly without had a reaction. In addition, at the beginning of the voting identity of a supporting whale There was a lot of speculation about it. Co-founder of Lido Finance CobieIn a post he made on social media, he encouraged companies to participate in voting about themselves. not ethical stated.

The unfavorable choice voting rates it was like this:

  • Your offer to be worked on needs: 66.61% (43 million LDO)
  • LDOs 1 year should be sold on lock-on condition: 33.31% (21 million LDO)
  • LDOs without locking condition should be sold: 0.08% (52k LDO)

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