Lido DAO Unveils NEST Program to Buy Back LDO Tokens

Lido DAO has unveiled its Network Economic Support Tokenomics (NEST) program to address the disparity between its protocol's earnings and token value. The program is designed to buy back LDO governance tokens using excess revenue generated by the protocol.

The NEST program will run automatically, with 50% of daily income above $109,000 allocated towards buying LDO. However, there is a daily cap of $50,000 and an annual limit of $10 million.

Lido has faced criticism for its token's performance, which has lost over 95% of its value since 2021. The protocol earns around $38 million annually in fees, but its market capitalization stands at approximately $252 million.