Lido Community Vote On A Treasury Management Committee Has 99.12% Support

DeFi

The Lido community has begun voting on the proposal to establish a treasury management committee.

This proposal seeks approval for a few key Treasury Management Principles (Principles), as well as the formation of a Treasury Management Committee (Committee) to develop Treasury Management Strategies (Strategies) constrained by the Principles, and Treasury Management Actions (Actions) to carry them out using On-chain tools.

According to the Snapshot voting website, the Lido community began voting on the proposal to adopt the DAO fund management principles and permit the formation of a treasury fund management committee early this morning. The current rate of support is 99.12%. The voting period will end on April 28.

Proposed treasury management concepts include ETH as the primary unit of account for the platform, Lido DAO money as a source of protocol resilience and future expansion, and the ability to fund initiatives to enhance the protocol’s decentralization and cybersecurity goals. The chance of treasury monies being lost is reduced; all treasury ETH must be pledged in Lido; and LDO holders have the final say.

According to Coincu, the Lido DAO community will vote on whether to accept the Abitrum airdrop and utilize the requested ARB token as an emission reward to encourage the use of staking ether (wstETH) throughout the Arbitrum ecosystem. According to the platform’s most recent update, Lido is eligible to receive 772,621 ARB tokens worth more than $1.2 million at the current Arbitrum Foundation governance document values.

The governing community of the platform would vote on “strategic and operational topics related to the claim and effective use of potential ARB tokens,” according to a proposal made on Jan. April 12 by Justin David Reyes, the company’s head of business development and decentralized finance (DeFi) partnerships.

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