TechFlow news, on October 12, according to disclosures by Yujin, Rune Christensen, co-founder of Sky (formerly MakerDAO), has completed the sale of 25 million LDO tokens over a period of nearly three years. Rune sold the LDO tokens at an average price of $1.87, generating total proceeds of $46.73 million, representing a 221x return on his initial investment.
Rune acquired these LDO tokens in December 2020 through an investment, when Lido raised $2 million in its first funding round, allocating 236 million LDO tokens to investors at approximately $0.00846 per token. Rune's initial investment amounted to around $210,000. Starting from January 2022, Rune began gradually selling these LDO holdings.
The majority of the proceeds from the LDO sales have been used to repurchase MKR tokens, the native token of his own project Sky. Since November 2022, he has invested $30.02 million to repurchase 36,041 MKR tokens at an average cost of $833 each. The current market value of these MKR tokens stands at $49.26 million, reflecting an unrealized gain of $19.24 million, or a 64% increase.
To date, Rune holds a total of 131,884 MKR tokens across two addresses, valued at approximately $180.28 million, representing 14.6% of MKR's total supply.
