Coin Gabbar Token

Lido is a liquid staking platform that enables staking for PoS (proof-of-stake) blockchain networks including EthereumAccording to the DAO’s proposal, the platform could fully or partially sell its ETH holdings in exchange for stablecoins to provide an extension for Lido’s runway<h2 id="header-0">A new proposal in the Lido DAO has been put forward where the members will be voting on whether Lido should sell its ETH to diversify its stablecoin holdings or stake all of it in ETH’s Shapella upgrade.</h2>Lido is a liquid staking platform that enables staking for PoS (proof-of-stake) blockchain networks including Ethereum and other Layer-1 PoS blockchains. Recently, a proposal has been presented in the Lido DAO by Stakehouse Financial which asks its members whether Lido should stake or sell its <a href="https://www.coingabbar.com/en/crypto-research-papers/ethereum" rel="noopener noreferrer nofollow">ETH </a>treasury holdings. The proposal has come with four options which include, selling Lido’s ETH holdings for diversifying its stablecoin investments.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c60182ed506e47e18dc9ce8411051450.png" />Lido DAO accounts for more than 20,000 Ether whose present market value crossed $30 million. Even though this might sound like a sizeable holding, this accounts for less than 10 percent of the overall Lido treasury of $350M holdings. These 20,000&#43; ETH holdings of Lido are based out in their Aragon contract and maintaining this balance since last year’s treasury diversification process.According to the DAO’s proposal, the platform could fully or partially sell its ETH holdings in exchange for stablecoins to provide an extension for Lido’s runway. Presently, Lido is making somewhere around $1.5 million to $1.7 million per month from its total staked ETH. This staking revenue suffices for the monthly operational expenditure of the organization, however, Lido is deliberating if this amount would be adequate enough for its future plans.As CoinGabbar shared in its news, <a href="https://www.coingabbar.com/en/crypto-currency-news/everything-you-need-to-know-about-ethereums-upcoming-shapella-transition" rel="noopener noreferrer nofollow">Ethereum is all set to go for its Shanghai and Capella Upgrade</a>, most probably in march. With this upgrade, all the ETH stakes would be able to withdraw their staked ETH and that is why Lido is reconsidering their choice to stay invested in staked ETH. However, the team Lido has already expressed their concerns regarding the liquidity of stablecoins and FUD in the market amidst Paxos and SEC conflicts.If stablecoins would be categorized as security in the U.S., covering Lido’s ETH holdings into stablecoins could significantly diminish their reason to do so in the first place. However, anything would happen only after the voting is completed and it would be exciting to know what the Lido community decides for the treasury’s ETH holdings.Also, Read - <a href="https://www.coingabbar.com/en/crypto-currency-news/us-cpi-data-lifts-microstrategy-mstr-coinbase-coin-shares" rel="noopener noreferrer nofollow">US CPI Data Lifts MicroStrategy (MSTR) and Coinbase (COIN) Shares</a>

Proposal in Lido DAO: Whether to Sell or Stake ETH Worth $30 Million

Table of Contents

Coingabbar

Další články publikované 16. 2. 2023

16.000 people showed up at Binance Live to hear about Outer Ring´s latest developments

Cryptocurrency Prices Rebound Following US CPI Data

Kaspa and the End of the Trilemma

NFT Sale Funktion

The Merge upgrade causes a 37% decrease in Ethereum’s exchange supply

Abu Dhabi Goes All-In on Crypto With $2 Billion Investment Program for Web3 and Blockchain Startups

Join our free newsletter for daily crypto updates!