Lido DAO proposes $20 million one-off LDO buyback as token hovers near all-time low
Lido DAO proposes $20 million one-off LDO buyback as token hovers near all-time low
Lido’s ecosystem operations team has proposed spending up to 10,000 stETH (roughly $20 million) from the DAO treasury to buy LDO tokens at what it calls a historically depressed valuation.At current prices, the buyback could absorb around 8% of LDO’s circulating supply.The proposal is separate from Lido’s still-pending NEST automated buyback program, which has not activated under present market conditions.LDO hit a new all-time low of $0.27 on Mar. 7, and currently trades near $0.31.