The community of the DeFi project Lido Finance has supported a new system for allocating grants to ecosystem projects. The Lido DAO (LDO) token rose by 16% in a day.
According to the proposal approved by almost 100% of the votes, 22 million LDOs will be distributed over four years. Payments will be made through multisig-wallets.
Improvements adopted include:
- creation of a universal structure for accounting for grants;
- increasing the number of independent participants for decision-making;
- disclaimer for former participants in the initiative who failed to fulfill their obligations.
The objectives of the management proposal were stated to be:
- harmonization and simplification of agreements;
- strengthening decentralization;
- independence of grants from time, resources or project effectiveness;
- implementation of the principle of optional participation for donors in the program.
The developers noted that during the discussion, most of the program participants confirmed their readiness to continue its implementation and allocate resources.
In early February, Lido developers announced the release of a new version of the protocol.
Source: Cryptocurrency
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