Hey guys- wanted to address a few points of contention/debate.
- Dragonfly has been committed to this deal with the LidoDAO for the past 2-weeks. We offered a price of 7-day TWAP + 50% before the market rallied and we were prepared to pay way above market price for LDO. Unfortunately, the price rallied. This isn’t our fault and had nothing to do with our activities on the secondary markets.
- Our intentions are clear: we are willing to pay above price, we want the team to have more runway, and we are not planning to sell. As mentioned, we’ve been committed to this deal for weeks.
To ease concerns about a sale, we’re willing to revise terms. If the current vote passes, we’re happy to accept the following revised terms regarding price.
The final price of LDO will be the higher of the following:
- Previously defined TWAP price + 50% premium
- 7-day backward looking TWAP taken at the time of vote completion + 5% premium
Question for those opposing no-lockup: Would you rather LidoDAO (which is in need of runaway) end up with less runway in exchange for a lockup which will ultimately have the same effect on token price since we will not be selling our received tokens anytime soon?