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Lido - Treasury Diversification #2
Overview
Funding Date
September 14, 2022
Financing amount
$24M
Valuation
--
Category
Subcategory
About Lido - Treasury Diversification #2
DragonFly Ventures has agreed to swap in place of DragonFly Liquid. The updated proposal is focusing on DragonFly buying 1% (half) of the total 2% offered originally. The remaining 1% will be handled at a future date.
-
DragonFly will commit to a final LDO price that is the higher of the following:
- Previously defined TWAP price + 50% premium (~$1.45 per LDO)
- 7-day backward looking TWAP taken at the time of vote completion (on chain voting) + 5% premium
-
DragonFly will have the ability to withdrawal from the commitment if LDO price exceeds $2.25 during the vote timeline.
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There will be a 1 year lock up vesting period. This is similar to previous diversification terms.
https://etherscan.io/tx/0x84cacdcc913aca7de260575e47b0ef81af59fc71edb123c131293b40b20e05e7
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 146 | [email protected] |
Founders & Team
Konstantin Lomashuk
Company Profile / Project Introduction
Lido is a liquid staking solution for ETH backed by industry-leading staking providers. Lido lets users stake their ETH - without locking assets or maintaining infrastructure - whilst participating in on-chain activities, e.g. lending.
Lido attempts to solve the problems associated with initial ETH staking - illiquidity, immovability and accessibility - making staked ETH liquid and allowing for participation with any amount of ETH to improve security of the Ethereum network.