Lido may stake all of its treasury ETH in its own protocol
The community that governs Lido is currently voting on whether or not it should stake all of the ether in its treasury in its own protocol. The purpose of the proposal will be to create productive assets in Lido’s treasury that can offset operating costs. Based on current yield prices — around 4-6% a year — it is estimated that the Lido protocol will earn an extra $2 million annually if they stake their current 20,000 supply of ether (ETH). Lido’s treasury management committee members have all voted to support the proposal. “Great option to generate some yield with Lido’s treasury without incurring unnecessary risks,” a committee member who goes by the pseudonym marcbcs wrote. The main phase of voting has already begun, with almost 100% of members voting in favor of the proposal at the time of publication. An objection phase will follow the main phase of voting and will close on June 30 at 1:47 pm ET. Although unlikely, the main concern around staking all its treasury ’s ET...