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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 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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