Lido may have initiated an LDO buyback, with the Growth Committee multisig address withdrawing 4.82 million tokens from Binance

BlockBeats News, April 16th, according to EmberCN monitoring, early this morning, 4.82 million LDO ($1.81 million) was withdrawn from Binance and transferred to the Lido Growth Committee-controlled multisig wallet (wallet for executing buyback-related transactions). When the buyback proposal was announced on March 27th, the LDO price was at a low of $0.27, and it has since increased by 40% to $0.38.

On March 27th, the Lido ecosystem operations team released a proposal on the community forum, seeking authorization for the Lido Growth Committee to use up to 10,000 stETH from the treasury to purchase LDO. The proposal stated that the LDO/ETH exchange rate is currently at a historical low of around 0.00016, representing a discount of approximately 63% from the two-year median and indicating a disconnect from the protocol's fundamentals. The plan will be executed in batches using the Easy Track mechanism, with each batch capped at 1,000 stETH. Execution channels include on-chain platforms (CoW Swap, 1inch, Uniswap) as well as centralized exchanges. The trade slippage will be kept within 3%, and all acquired LDO will be returned to the treasury.