Hi everyone,
Wanted to get more insights on wisp project:
Would appriciate more transperency on points above as well as points you feel important to highlight.
Hi Ginsing,
How it’s connected to the DAO?
Wisp services are provided by Confidential Crab Computing, a company incorporated in the Cayman Islands. The shares in CCC are fully owned by Lido Alliance Borg. In turn, Alliance operates under defined DAO oversight and intervention rights including as a result of funding and relevant bylaws.
Revenues will be recognised in CCC and will be used to offset expenses and to drive future growth and expansion. This market sector is in land grab mode atm. When that changes tokenholders will be the one to vote, but that is counting chickens before they hatch atm as we are just getting started.
The LDO token provides holders with voting rights regarding the Lido DAO. Lido Alliance Borg, the foundation which fully owns Wisp, operates under defined DAO oversight and intervention rights. While there is no direct relationship between LDO and Wisp, the Lido ecosystem may benefit from Wisp generating revenue and developing IP.
I want to add a broader fiscal point.
Wisp may become an excellent product, and I understand the argument that small experiments can create new revenue sources. But as currently presented, Wisp is not clearly connected to the Lido protocol, Ethereum staking, or even the broader Ethereum ecosystem.
Calling this “vertical expansion” therefore stretches the term considerably. It looks closer to unrelated business diversification.
Lido’s latest annual spending remained above $40m, although the latest quarterly report showed encouraging improvement. In an organization with this cost base, expanding the funding mandate into unrelated experimental businesses creates a real risk of strategic and financial sprawl.