LDO · a fully-vested token a live buyback is buying back.
LDO is the governance token of Lido, the largest liquid-staking protocol on Ethereum — 1B fixed cap, ~842.83M circulating (~84%), fully unlocked.
Sell pressure. No mint and no vesting left — the team, investor and treasury cliffs all finished by 2024. Every sell row is zero; the only overhang is the DAO treasury.
Buy pressure. A DAO-approved ~22M-dollar buyback has been running since Apr 20 2026, removing ~6.5M LDO last quarter into a governance-disabled treasury.
Net. Mildly deflationary — ~0.83% taken off the market over the next 90 days as the buyback keeps running against an empty sell side.
- Buyback tranches continue~7M LDOThrough ~Oct 2026 · removed from market
1B fixed ERC-20 supply with no mint function — verified on-chain. LDO is a pure governance token; the protocol never issues new LDO.
Team (40%), investor (35%) and treasury (25%) vesting all completed by 2024 — the token is fully unlocked, with no cliffs left to release.
Tracked overhang: the DAO treasury (Aragon Agent) holds ~108.23M LDO on-chain, with no published deployment schedule — monitored. Bought-back LDO is returned here and held governance-disabled, so the balance grows rather than enters the market.
No bankruptcy estate. All allocations are fully vested; nothing sits on a trustee release schedule.
The DAO approved a ~22M-dollar LDO buyback (vote Apr 13 2026), executed in 1,000-stETH tranches since Apr 20 2026. It removed ~6.5M LDO from circulation over the trailing 90 days and continues at a similar tranche-gated pace, projecting ~7M over the next 90 days. Bought-back LDO returns to the DAO treasury, governance-disabled.
No burn function in the LDO contract — verified on-chain. Staking fees accrue to the protocol treasury, not to a token burn.
A separate automated annual buyback (~10M dollars, funded from staking rewards) is planned for 2026 but not yet live — it activates only above set ETH-price and revenue thresholds. Monitored.
No native LDO staking lock and no new lockup programme. The buyback parks tokens in the treasury rather than a time-locked contract.
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