Lido's long-planned NEST buyback mechanism for LDO is now live on Ethereum mainnet, marking the activation of a revenue-linked program that routes surplus staking income into automatic token purchases. The framework keeps the same core parameters previously outlined by the DAO: a $40 million annualized revenue baseline, a $50,000 daily buyback limit and a rolling 365-day cap of $10 million. Tokens acquired under the program go to the DAO treasury rather than being burned. Under NEST, 50% of staking revenue above roughly $109,000 a day is eligible for buybacks. Lido has said the system uses cumulative accounting, meaning purchases can pause when revenue falls below the baseline over time and resume only when later surplus restores the balance. The mechanism also starts in treasury mode, while a possible future LP mode would require a separate governance vote. The activation does not mean immediate buying. DeFiLlama data cited in the latest update shows Lido generating around $75,000 in daily revenue in August, below the threshold needed to trigger the program. The last time protocol revenue moved above $109,000 a day was in April 2026 during a broader second-quarter crypto market recovery, suggesting NEST's buying activity may depend on stronger market conditions. The rollout has drawn support from some industry observers, including Gabriel Shapiro, who described it as "How buybacks should be." At the same time, debate over crypto buybacks persists, especially in weaker markets, with critics arguing funds may be better used for ecosystem development. On the market side, LDO has held support around $0.28 in August after a July decline, though it remains below its 50-day EMA and 200-day MA, with a move above $0.33 cited as a key technical level for stronger upside confirmation.