Lido has pledged over 20,000 ETH to the treasury and has become the 13th largest holder of stETH.
2023-07-03 03:30
Odaily News: The parent company of 21 Shares, 21.Co, released a tweet by data analyst Tom Wan stating that Lido Finance has implemented Proposal 161, which involves staking all ETH in its treasury (approximately 20,300 coins) and converting them to stETH.
The current composition of Lido Finance's treasury is approximately 20.7% stETH (worth about $63 million) and 75.7% LDO (worth about $231 million). The total balance in the account (including LDO) is around $304.7 million, or about $72.5 million excluding the LDO balance.
With this, Lido Finance has become the 13th largest holder of stETH, with a total of approximately 33,000 coins.
As previously reported, on July 1st, the Lido community voted in favor of the proposal to stake 20,000 ETH from the protocol's treasury. The proposal aims to create productive assets to offset operational costs. Based on the current yield (approximately 4%-6% per year), it is estimated that staking the current 20,000 ETH holdings in the Lido protocol will generate an additional $2 million annually.
The current composition of Lido Finance's treasury is approximately 20.7% stETH (worth about $63 million) and 75.7% LDO (worth about $231 million). The total balance in the account (including LDO) is around $304.7 million, or about $72.5 million excluding the LDO balance.
With this, Lido Finance has become the 13th largest holder of stETH, with a total of approximately 33,000 coins.
As previously reported, on July 1st, the Lido community voted in favor of the proposal to stake 20,000 ETH from the protocol's treasury. The proposal aims to create productive assets to offset operational costs. Based on the current yield (approximately 4%-6% per year), it is estimated that staking the current 20,000 ETH holdings in the Lido protocol will generate an additional $2 million annually.
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