The $LDO whale unlock - OTC - time to get organized

Hi everyone,

As we lead up to the merge, the hype continues to build. a16z led a $70 mm round into Lido. This is nothing short of incredible combined w/ the continued growth of liquid staking.

The only item holding back the token price is the continued heavy sell pressure from those with most of the supply. For the unlock of tokens to be considered “Bullish” these unlocks need to be done OTC, sbf solana style. There is certainly a significant demand for LDO OTC, especially w the a16z recent investment and merge coming up.

Unfortunately, over the last month or so, whales have been dumping on sushi, where the liquidity is very thin. The wormhole deployer went full evil on us, dumping a tremendous amount here (over 1mm LDO tokens):

The wormhole deployer owns 2% of the supply! They are not true believers of the Lido religion lol - this is jump crypto …

This whale owns 2% of the supply, is likely a founder, and dumped 120,000 LDO tokens in 2 sell orders 48 hours ago. This dump dropped the price from about 3.75 to 3, b/c the liquidity on sushi is so thin.

This is what I like to call amateur hour. The Lido team is very elite technically and in business development, but seems to be lacking an efficient OTC trading desk. These types of orders going forward MUST be OTC’d. An OTC desk, similar to what the MAker DAO has, would make this much more efficient and would create potential for the LDO unlock to be bullish, as hte solana unlock was.

With massive unlocks coming, if such a sophisticated player like Jump is willing to “turbo nuke” the price as sir @jbeezy eloquently put it, what are all the other founders, funds who got discounts, etc. going to do? The demand for LDO is building, lets not flood the supply here … OTC blz ser muh family!

Otherwise, lol, dump on me! I’m not selling!

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As far as I’m aware (which is tangentially aware, not very) the OTC volume of LDO trades is much higher than onchain sales from early token holders. I would appreciate someone (e.g. @LIDO you?) reaching out to reputable OTC decks and compiling the contacts and part of terms that can be stated publicly. Would give a LEGO grant for that.

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Yes, my briefly, my background is as a lawyer in global finance turned full time crypto.

I will reach out to the reputable OTC desks immediately and expect to have a contact list / terms in the near term.

Is there a formal process for applying for a LEGO grant?

Note I do not intend to sell any LEGO LDO tokens!

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The formal process is quite informal: https://lego.lido.fi

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note that i submitted this in google forms and messaged it to u on this forum, also messaged u on telegram … just checking in if there is still interest here … have not received response …

hey @LIDO, jumping in here to say that the LEGO team are aware and will get a response back to you asap. AD

I wrote to you literally 5 minutes from your message and you didn’t reply for six days.

yes its my fault, had to update my tg … blz sers

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I think this is a great initiative, I would be happy to provide context or support as I get regular inquiries about OTC for LDO as the liquidity is too thin to enter on DEXs.

I sent you a DM here as well for discussing a few other LDO initiatives.

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Wormhole Deployer Dumping hard at the bottom hahahahahaha

sell OTC instead of trying to ruin the project, can we not give these people any more tokens? or perhaps they should have been locked up? i mean wow! they cant stop dumping on us!

@vsh @jbeezy