Lido DAO proposes $20M LDO token buyback

The Lido (LDO) DAO, an Ethereum staking platform, has submitted a governance proposal to buy back $20 million worth of its native token, Cointelegraph reported. The proposal aims to support the price of LDO, which has fallen 96% from its all-time high. Under the plan, the DAO treasury would exchange 10,000 stETH for LDO to be added to liquidity pools.