TechFlow news — According to a community vote concluded on Monday, the Lido Finance community rejected by 66% opposition the proposal to sell 10 million LDO tokens to venture capital firm Dragonfly Capital for $14.5 million. The plan to sell these tokens to Dragonfly Capital without any lock-up requirements drew significant criticism.
The Lido Finance community also has an outstanding treasury management-related proposal that has not yet been voted on, suggesting the sale of 10,000 ETH from the project’s treasury into stablecoins. Currently, Lido’s treasury holds assets worth $290 million, including 158 million LDO tokens ($251 million), 20,940 ETH ($32 million), 5 million staked ETH ($7 million), and small amounts of other tokens.
As previously reported, Lido planned to sell 20 million LDO tokens from its DAO treasury, with Dragonfly Capital intending to purchase 10 million. (The Block) Original link
