Sell or stake: Ethereum staking giant Lido mulls choices for its $30M ETH
While LidoDAO’s current inflows of about 1000 stETH are sufficient to cover operating costs for the time being, it’s worried that may not last. The decentralized autonomous organization (DAO) behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury. A proposal was submitted on Feb. 14 by the DAO’s financial unit, Steakhouse Financial that considers four choices, one of which contemplates staking part or all of its ETH on Lido in the form of Lido Staked ETH (stETH). Another would see Lido DAO selling a part or all of its 20,304 ETH for a stablecoin, with the purpose being to extend the DAO’s runway. The four proposals (pictured) submitted by Steakhouse Financial to the LidoDAO asking how it should manage its treasury. Source: Lido The proposal comes as ETH staking withdrawals will soon be enabled through Ethereum’s Shanghai and Capella upgrades expected to take place sometime in earl 2023 accordin...