According to Foresight News, Lido's strategic advisor Hasu has highlighted a significant decrease in Lido's total expenditure since 2021. The expenses have dropped from $190 million in 2021 to $22.2 million in early 2025. Lido's treasury, primarily held in ETH, has generated over $100 million in non-operating income since 2022, totaling approximately $40 million. Hasu expressed personal opposition to initiating LDO buybacks at this time, citing the need to sell ETH instead of USD.
Hasu also noted that Lido's growth budget is considerably smaller compared to its competitors' large incentive programs, contributing to its recent market share decline. Regarding buybacks, Lido Labs' direction aligns with recent community proposals, but Hasu advises caution, suggesting that it is prudent to wait for clearer regulatory guidance and to design the appropriate mechanisms. Additionally, NEST, a framework to support various buyback mechanisms, will be submitted to the forum in the coming days.
