LidoDAO rejects sale of 10M LDO tokens to Dragonfly Capital

2022.07.26 15:30

LidoDAO rejects sale of 10M LDO tokens to Dragonfly Capital

LidoDAO, the governance body that controls Lido Finance, has voted to reject a proposal that would have sent 1% of the LDO token supply to Dragonfly Capital in exchange for about $14.5 million in DAI.

LDO is the native token on the Lido Finance protocol, which issues the Lido Staked Ether (stETH) token. DAI is the dollar-pegged stablecoin issued by the Maker Protocol. If it had passed, crypto VC Dragonfly Capital would have received 10 million LDO tokens at $1.45 each.

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