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A noteworthy development has occurred for Lido DAO (LDO) investors, a popular altcoin. A governance proposal was recently presented, proposing the establishment of an insurance fund for Lido DAO, in addition to allocating 20% to 50% of the income from the protocol treasury to those staking LDO.
Details of the Governance Proposal: Staking, Buyback Program, and More
A Lido DAO community member known by the pseudonym “lidomaxi” recently put forward a governance proposal featuring several significant propositions, such as the implementation of staking and a buyback program for the local governance token LDO, aimed at enhancing its value proposition.
The governance proposal not only suggests the establishment of an insurance fund for Lido DAO but also proposes a revenue share, where 20% to 50% of Lido DAO’s future earnings would be allocated from the protocol treasury to those staking LDO.
According to data analysis company Nansen and Arkham Intelligence, the governance proposal was presented prior to Jump Trading moving approximately 3 million LDO tokens, worth around $7.5 million, in two transactions to a new wallet address.
Community Members Support the Governance Proposal
The governance proposal has already garnered support from numerous community members. Steakhouse, which offers financial advisory services for several decentralized autonomous organizations (DAOs), commented, “Approval of the governance proposal would certainly be positive.”
Hal Press, the founder of hedge fund North Rock Digital, noted on his personal Twitter account that he had criticized LDO in the past for not offering any value. However, he stated that the acceptance of this governance proposal would mark a significant step in addressing this issue.
Data provided by the crypto data platform CoinMarketCap also indicates a positive response from the LDO token’s price to the governance proposal, showing a rise of over 3% in the last 24 hours, trading at $2.29.
