Gate News reports that on March 27, the Lido Growth Committee released a proposal to authorize the use of up to 10,000 stETH from the Lido DAO treasury to gradually purchase LDO through on-chain and off-chain channels, in order to seize the market opportunity presented by the current historical low LDO/ETH ratio.
The background of the proposal indicates that the current LDO/ETH ratio is approximately 0.00016, which is about 63% discounted from the two-year median of 0.00043, while the net income of the protocol has only decreased by about 20% during the same period, showing a significant divergence between fundamentals and price movements.
In terms of execution mechanism, the limit for each batch is set at 1,000 stETH, with a price cap and a maximum slippage tolerance threshold of 3%; a report must be published in the forum after execution before the next batch can be initiated. Trading channels include on-chain (CoW Swap, 1inch, Uniswap) and a certain CEX, and delegated market makers are allowed to execute on behalf of others. All purchased LDO will be returned to the DAO treasury, and no governance voting is allowed during the holding period.
Regarding risks, the proposal identifies the main risks as front-running attacks, smart contract vulnerabilities, market volatility, and exchange fund freezes, and seeks to mitigate these through diversified execution channels, strict threshold settings, and the DAO’s ability to terminate authorization at any time.
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