LidoDAO says no to selling $14.5M in LDO tokens to Dragonfly Capital
The proposal aimed to secure a two-year runway for LidoDAO to carry out its functions in the Lido Finance protocol without worrying about further fundraising. LidoDAO, the governance body that controls Lido Finance, has voted to reject a proposal that would have sent 1% of the LDO token supply to Dragonfly Capital in exchange for about $14.5 million in Dai (DAI).LDO is the native token on the Lido Finance protocol, which issues the Lido Staked Ether (stETH) token. DAI is the dollar-pegged stablecoin issued by the Maker Protocol. If it had passed, crypto venture capitalist Dragonfly Capital....
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Crypto fund DragonFly Capital announced the launch of a new $225 million fund to invest in projects across the crypto space. Following the success of the original $100 million fund kickstarted in late 2018, the Dragonfly Fund II will target four potential areas: decentralized finance (DeFi) protocols, non-fungible token projects, Ethereum Layer 2-based businesses, and centralized finance (CeFi) platforms. The San Francisco-based venture capital fund have been early backers of notable projects such as ByBit, […]
Dragonfly, a well-established figure within the venture capital scene, will utilize the capital to invest in early- to mid-term projects within the crypto ecosystem. Dragonfly Capital, a prominent venture capital corporation operating in the cryptocurrency sector, has announced its third funding round, valued at $650 million. The figure surpasses its two prior rounds of $100 million in October 2018 and $200 million in December 2020.The $650 million raise saw participation from Tiger Global, KKR, Sequoia China and Invesco, among others, and arrived at slightly higher than the $500 million....
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In a recently concluded voting program, it was revealed that over 92% of LidoDAO members (Lido token holders) of the decentralized liquid staking protocol Lido Finance, voted in favor of Lido ceasing its operations on the Solana Network. LidoDAO Cut Ties With The Solana Network Following Community Vote The proposal was first introduced by Lido on Solana’s peer-to-peer (P2P) team on September 5, due to financial limitations. Following the introduction, the voting program began on September 29, 2023, and was concluded a week later on October 6. Related Reading: Real Reason Behind....