Lido DAO Disapproves Proposal To Sell 10 Million Tokens

Ethereum staking protocol Lido Finance rejected a proposal to sell 10 million LDO tokens for $14.5 million to the Dragonfly Capital investment fund. Voting Results Voting on the proposed token sale for Dragonfly Capital ended yesterday.

Timeline of Lido-dao

The majority of the votes cast were against the controversial Lido proposal to sell tokens to Dragonfly Capital without any lock-up. The post Lido DAO votes no to selling $14.5 million in LDO tokens to Dragonfly Capital appeared first on The Block.

The vote is half of a proposed $29 million token sale involving the liquidation of 2% of the Lido DAO (LDO) token supply for DAI. The post Lido DAO voting on proposed $14.5 million token sale to Dragonfly Capital appeared first on The Block.

Staking is still a relatively new phenomenon in the world of virtual currencies. And also many individuals are still not familiar with its advantages. While blockchains like Ethereum have their importance in the industry, the need for faster alternatives continues to exist.

Crypto staking service provider Lido Finance has come a long way. From fears of shrinking liquidity for the staking derivative to Lido's native token skyrocketing to a weekly-high of $0.66, the organization has stood its ground.

If the deal gets approved, the Lido treasury will receive $29 million in the DAI stablecoin from investors. The post Lido Finance proposal wants Lido DAO to sell 2% of all LDO tokens appeared first on The Block.

The Lido DAO is in overbought territory since April and the LDO prices are rallying by 150% in just two weeks so what seems to be driving the rally? Let's find out today in our cryptocurrency's latest news.

The under-the-radar token of a decentralized autonomous organization (DAO) is surging this week, more than doubling its value. The native token of Lido DAO (LDO) has skyrocketed from a seven-day low of $0.58 to a high of $1.25, marking an increase of 115.52% in just one week.

Lido DAO (LDO) token has emerged as one of the top choices of the largest of the Ethereum (ETH) whales over the last 24 hours. This activity has helped the LDO tokens to register a whopping surge amid the tumbling crypto market.

Lido token surges 24% with the staked ETH slowly re-pegging and now it is stabilizing which prompted a rise in the native token so let's have a closer look at our latest altcoin news. Lido's token surges 24% in the past 24 hours, hitting a new high of $0.66 cents.

Lido DAO may not be the most famous protocol or token in the crypto space, but at one point, it was worth much more than any other DeFi asset. Currently, the altcoin is exhibiting similar traits by leading the DeFi market out of the bears' territory.