LidoDAO, the governance body that controls Lido Finance, has voted to reject a proposal that would have sent 1% of the LDO token supply to Dragonfly Capital in exchange for about $14.5 million in Dai (DAI).
LDO is the native token on the Lido Finance protocol, which issues the Lido Staked Ether (stETH) token. DAI is the dollar-pegged stablecoin issued by the Maker Protocol. If it had passed, crypto venture capitalist Dragonfly Capital would have received 10 million LDO tokens at $1.45 each.
A total of 609 votes were cast across three options, but the proposal was ultimately reddetti with 43 million total tokens in favor of rejection. Nine whales whose collective 40.3 million tokens comprised the vast majority of the weight of the votes.
The other two options were each in favor of the proposal, either with a one-year lockup on the LDO tokens or with no lockup.
This vote was for the first half of the total 20 million LDO token allocation stipulated in the proposal. The second portion of 10 million LDO tokens could be sold to LidoDAO’s treasury, but it is unclear whether that vote will take place following this first rejection. Lido’s treasury is currently değerli at about $228 million at the time of writing.
The July 18 proposal issued by DAO member Jacob Blish aimed to güvenli a two-year runway for LidoDAO to carry out its functions in the Lido Finance protocol without worrying about further fundraising. Blish stated:
"Bu, Lido ve onun temel katılımcılarının protokol için gereken önemli çalışmaları uzun vadede sürdürebilmelerini ve özerk, kendi kendini yöneten bir kolektif olarak gelişmelerini sağlayacak."
Blish added that the proposal specifies the accumulation of stablecoins to ensure that Lido can remain in a “steady state to ensure survivability and security for Lido independent of further market actions.”
Lido community members appear nonchalant about the outcome of the vote, as the project’s Discord and Twitter accounts have been silent since the results came in. With the rejection, the proposal will go back to the drawing board and possibly be voted on again.
Dragonfly Capital, led by Haseeb Qureshi and Bo Feng, has at least 57 companies in its crypto and Web3 investment portfolio. The firm closed a $ XMUMX milyon finansman turu Nisan ayında.
Lido allows Ether (ETH) investors to stake their coins in preparation for the Ethereum network’s transition to risk kanıtı (PoS) fikir birliği expected by September.
İlgili: Lido co-founder discusses the future of Ethereum at EthCC
The LDO whale, who swung their considerable weight of 17 million tokens to reject the proposal, has olarak in favor of another ongoing vote at LidoDAO that will add a developer to one of the project’s multisignature wallets if passed. This proposal is designed to increase the security of the protocol’s funds.
Source: https://cointelegraph.com/news/lidodao-rejects-sale-of-10m-ldo-tokens-to-dragonfly-capital