A proposed treasury buyback of up to 10,000 stETH for LDO highlights how thin DeFi governance token liquidity has become, forcing the DAO to route through centralized exchanges. Lido DAO proposed spending up to 10,000 stETH (about $20 million) from its treasury to buy back its LDO governance token, which it says is trading at a historically depressed valuation. Because onchain liquidity for LDO is thin, the plan would route batches of 1,000 stETH through centralized exchanges and market makers,…
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