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Lido's updated treasury diversification proposal passed



Time:8/5/2022 12:03:32 PM

[Lido’s updated treasury diversification proposal was approved] August 5 news, the vote on Lido Finance’s updated treasury diversification proposal ended at 0:00 on August 5, Beijing time, and the proposal has exceeded 99% support If the rate is passed, Lido will sell 10 million LDOs to Dragonfly Capital.

As previously reported, Lido Finance issued a proposal in mid-July, planning to sell 20 million LDOs at a price of $1.452153, and Dragonfly Capital planned to purchase 10 million, but the proposal failed to pass the vote. Lido Finance then amended the proposal, adding a one-year lock-up period for tokens sold to DragonflyCapital. In addition, when the voting is completed, Dragonfly Capital will choose the higher price option from the previous weighted price average plus a 50% premium (approximately US$1.45), the 7-day weighted price average plus a 5% premium, and if If the LDO price exceeds $2.25 during the voting schedule, DragonFly will be able to waive the purchase.

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