Kadmil, the core developer of Lido Finance, proposed to sell 10,000 ETH in DAO's Treasury on 3rd, in order to deal with the project maintenance costs related to the bear market in the next two years, which caused a stir in the community. Tim Beiko, the core figure of Ethereum Foundation, also joined the discussion, saying that this is a very radical proposal. But he said it could be done if the cost was urgent.
Kadmil, the core developer of Lido Finance, proposed on 3rd that he would sell 10,000 ETH in DAO's Treasury, which could last for 2 years with a team of about 50 people and all the operating costs of the maintenance budget. Kadmil also said that if the price of ETH continues to fall in the future, DAO's operating resources will continue to decrease. This is to keep the Lido project going in a bear market. Kadmil also expects that under the current APY and TVL, Lido will receive enough to cover the cost of the ETH sale within a year.
The proposal has sparked a lot of discussion, including from TimB Eiko, a key figure in ethereum Foundation. Beiko today (7) called on developers and the community to carefully consider the decision: "This is a very radical proposal... If so, I would consider allocating more than one staboin for DAOs to diversify their DAO assets and spread market risk... If the situation is very urgent, it might be worth allocating these costs out of 10,000 ETH.
Subsequently, many community members expressed poor financial management of the LIDO project, such as Beiko, why not diversify their DAO assets to reduce risk? It was also noted that LIDO did not have a finance person in charge of the project, which should have been done during last year's bull market, as it should have sought outside expertise.
As LIDO to sell ethereum after the discussion began, today ethereum also collapsed phenomenon, since 6 am from 1872.46 usd all the way down to the lowest 1729.41 USD, down about 7.63%, as of press time provisional offer 1753.58 USD.