• Lido DAO (LDO) is considering selling or staking its 20,304 ETH (worth around $30 million) that it currently holds in the treasury.
• Selling the funds would be used to secure additional runway in current market conditions. Staking what’s left is also an option.
• Ethereum Name Service (ENS) DAO has recently voted in favor of a proposal to sell 10,000 ETH ($13 million).

Lido DAO Proposes Selling or Staking Its $30M in ETH

Lido DAO (LDO), the governing body behind the largest Ethereum staking provider, is deciding on what to do with its treasury ether valued at around $30 million ahead of the Shanghai upgrade which will enable ETH staking withdrawals. On February 14, Steakhouse Financial, the Lido DAO branch responsible for managing the treasury, proposed three plans concerning their 20,304 ETH and surplus stETH holdings.

Proposal to Sell All or Part of Treasury Denominated in ETH

One of these proposals outlined a plan to sell all or part of their treasury denominated in ETH. The argument for selling this part for a stablecoin is that these funds would be used to secure additional runway during current market conditions as Lido DAO only has a monthly run rate between $1.3-$1.5 million and holds over $20 million worth of DAI. In addition, they are looking into whether they should sell off some excess stETH and add it to their operating budget as well.

Voting on Proposals Has Not Started Yet

The voting on these proposals has not started yet but if approved could prove interesting as it shows how Lido DAO is managing its treasury and adjusting to current conditions within crypto markets.

Ethereum Name Service (ENS) DAO Passes Proposal

ENS DAO recently passed a proposal to sell 10,000 ETH ($13 million). This move was made with hopes that it will reduce exposure held by the ENS treasurey which had nearly 100% exposure towards Etheruem at that time.

What Does This Mean?

Lido being one of the largest Ethereum staking providers could have implications for other companies within this sector if they decide to sell off parts of their holdings for financial security purposes during these volatile market conditions. It will be interesting to see how other entities within this space handle similar situations moving forward and if more companies follow suit with similar ideas as we move closer towards Ethereum 2.0 launch date sometime later this year or early next year!