Back

Lido Buyback Appears to Begin After 4.82 Million LDO Transfer

Three days after Lido approved using up to 10,000 stETH (staked Ether token) for LDO buybacks, 4.82 million LDO worth $1.81 million was moved from Binance to a growth committee multisig wallet (shared-signature crypto wallet).

STETH
LDO

Summary

No Summary provided as the original text is short

Terms & Concepts
  • stETH: A liquid staking token issued for staked Ether, allowing users to retain tradable exposure while earning staking rewards.
  • Multisig wallet: A cryptocurrency wallet that requires multiple approvals to authorize transactions, often used for treasury and governance security.
  • Buyback: A program in which a project repurchases its own token from the market, typically to support treasury strategy or token supply management.