Data: Lido's total expenditure has shown a year-on-year decline since 2021.

ForesightNews · 2025-08-15T04:00:06+00:00

Foresight News reported that Lido's strategic advisor Hasu stated on Twitter that Lido's total expenditure has shown a declining trend year by year since 2021, decreasing from $190 million in 2021 to $22.2 million from the beginning of 2025 to now. Since Lido's treasury is primarily held in ETH, non-operating income has exceeded $100 million since 2022, totaling about $40 million. "Personally, I believe this is a strong argument against starting LDO buybacks today, as ETH needs to be sold instead of USD." Additionally, he mentioned that compared to competitors' large incentive programs, Lido's growth budget is much smaller, which is an important reason for its recent decline in market share. Regarding buybacks, Lido.

ForesightNews

2025-08-15 04:00:06

According to Foresight News, Lido’s strategic advisor Hasu tweeted that Lido’s total expenditure has shown a year-on-year declining trend since 2021, dropping from 190 million USD in 2021 to 22.2 million USD as of early 2025. Since Lido’s treasury is primarily held in ETH, non-operating income has exceeded 100 million USD since 2022, totaling about 40 million USD. “Personally, I believe this is a strong argument against starting the LDO buyback today, as it requires selling ETH instead of USD.” Furthermore, it was mentioned that compared to competitors’ large incentive programs, Lido’s growth budget is much smaller, which is a significant reason for its recent market share decline. Regarding the buyback, Lido Labs’ direction aligns with recent community proposals, but a cautious approach is to wait for clearer regulations and design the right mechanisms. Additionally, NEST (the track to support various buyback mechanisms) will be submitted to the forum in the coming days.

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