Just two days after its initial plan failed to pass a community vote, staking giant Lido Finance submitted a new proposal on Monday for the sale of 10 million Lido DAO (LDO) tokens, about 2% of its total supply, to Dragonfly Capital.
The new proposal comes with a one-year lockup, as the lack of vesting options was a point of concern for the community.
The sale price of the LDO will be taken from the seven-day average price of LDO at the end of the voting process, plus a 5% premium. This differed from the previous proposal which had a flat rate of US$1.45.
Dragonfly will have the option to withdraw from the deal if the sale price of each LDO token exceeds US$2.25.
The proposal goes to a vote on July 27, 6:00 p.m. EDT with two options, to either accept or reject the proposal.
LDO gained as much as 41% on Thursday in Asia before slipping to trade at US$2.07 at close of business.