Lido's updated treasury diversification proposal passes

Voting on Lido Finance's updated treasury diversification proposal ended at 0:00 on August 5, Beijing time. The proposal has passed with more than 99% support. Lido will sell 10 million LDOs to Dragonfly Capital. Foresight News previously reported that Lido Finance issued a proposal in mid-July, planning to sell 20 million LDOs at a price of $1.452153, and Dragonfly Capital planned to purchase 10 million, but the proposal ultimately failed to pass the vote. Lido Finance then amended the proposal, adding a one-year lock-up period for tokens sold to Dragonfly Capital. In addition, when the vote is completed, Dragonfly Capital will choose the higher price option between the previous weighted price average plus a 50% premium (approximately $1.45), the 7-day weighted price average plus a 5% premium, and if If the LDO price exceeds $2.25 during the voting schedule, DragonFly will be able to forego the purchase.