Lido DAO proposes $20 million token buyback

Lido DAO's ecosystem operations team has put forth a proposal to utilize up to 10,000 stETH, valued at approximately $20 million, from its treasury for a one-off buyback of its native LDO token. This initiative aims to address the token's current valuation, which the proposal notes is at a significant discount compared to historical levels and near an all-time low. If enacted, this buyback could potentially absorb around 8% of LDO's circulating supply, signaling a strategic move to support the token's market position.