1.Proposal to review the repurchase of tokens based on the implementation of the ethfi project
Proposal Summary
This proposal authorizes the Foundation to utilize a portion of the treasury to conduct buy-backs of LDO tokens while the market price is below US $2, up to a total amount of US $50 million. The goal is to continue to accumulate LDO and increase the proportion of protocol revenue directed toward buy-backs while LDo trades below this threshold.
Buy-Back Program
The Foundation is authorized to execute LDO buy-backs from open markets or designated on-chain venues when the token spot price is strictly below US $2.00.
The total cap for this program is US$50 million (equivalent USD value) sourced from the treasury.
Buy-backs shall commence upon DAO approval and continue until:
(a) the cap is reached,
(b) the Foundation deems the program complete, or
(c) a subsequent vote governance modifies or terminates the program.
The Foundation may increase the share of protocol revenue allocated to buy-backs while LDO remains below US $2, provided total spend does not exceed the authorized cap
Implementation Timeline
Once approved, the buy-back program becomes active immediately, subject to the price condition being met.
2.Or proposal to make LDO staking
1. Goals and Value Proposition
The primary goal is to turn LDO into a productive asset while aligning token holders more closely with the long-term growth of the Lido protocol.Key benefits for users:Earn a share of protocol revenue paid in LDO or stETH.
Retain full governance voting power while staking (staked LDO still counts for votes).
Optional liquid staking version (stLDO) for use across DeFi.
Benefits for the DAO:Reduce selling pressure from treasury emissions and team unlocks.
Attract more capital and deepen DeFi integrations.
Create healthier, more sustainable tokenomics.
- Economic Model (Revenue Sharing)Lido would allocate 20–40% of total protocol revenue to LDO stakers. This percentage would be adjustable through governance.Revenue sources would include fees from stETH, Lido Earn, stVaults, and future products. Rewards could be distributed via automatic LDO buybacks (preferred for deflationary pressure) or direct stETH drips.Main parameters:Unbonding period: 7–14 days (or instant unstaking with a small 1–3% penalty).
No minimum stake required (or just 1 LDO) for maximum accessibility.
Optional veLDO system (vote-escrowed LDO) offering up to 2.5x reward multiplier, similar to Curve or Convex.
At current protocol revenue levels (estimated $50–70 million per year in 2026), allocating 30% to stakers could deliver an APY of 8–14% depending on the percentage of supply staked and LDO price.
3. Technical Implementation
The staking system would be built as a dedicated smart-contract module based on Lido’s existing codebase and OpenZeppelin standards.Core components:LDO staking contract with optional liquid staking token (stLDO).
Full integration into the official Lido interface with a new “Stake LDO” tab.
Governance voting power preserved for staked LDO via Aragon and Snapshot.
Comprehensive analytics dashboard on Dune Analytics.
Security measures:Three independent audits (Trail of Bits, OpenZeppelin, PeckShield).
Public bug bounty program up to $1 million.
Timelock and DAO multi-sig control during the initial 3 months.
Or make buybacks+staking 50/50