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Lido Initiates Vote on NEST System for Potential LDO Buybacks

Lido has launched voting on the NEST proposal, which aims to create a modular system for converting stETH into LDO for the DAO treasury, with initial testing planned for December 2025 if approved.

STETH
LDO

Summary

Lido has initiated voting on the NEST proposal, a system designed to convert stETH into LDO tokens for potential buybacks from the Lido DAO treasury. The vote, which has received 100% support so far, will close on September 30, with the first version of the system expected in December 2025. The proposal focuses on the system’s architecture, with a separate on-chain vote needed for activation. If passed, further development on the buyback mechanism will follow.

Terms & Concepts
  • stETH: A liquid staking derivative representing staked Ether, issued by Lido and usable in DeFi protocols while earning staking rewards.
  • LDO Token: The governance token of Lido DAO, used for voting on proposals and protocol-related decisions.
  • NEST Modular System: A proposed framework by Lido to enable stETH-to-LDO conversions, supporting potential token buybacks for the DAO treasury.