🚀🤑 Lido Finance is seeking $1.5 million in funding to grow and survive in Solana! The P2P team submitted a funding proposal to the Lido DAO community to expand the project and avoid the possibility of ceasing operations.

The budget is as follows: quarterly development fee of $200,000, annual marketing budget of $600,000, and annual customer support of $100,000. In return, the team aims to capture more than 1% of Solana's staking market and further develop the product.

If the Lido DAO community cannot provide the desired financial support, the P2P team proposes to initiate the sundowning process of Lido, as in the case of Polkadot and Kusama. This will include a gradual reduction of Lido support at Solana by February 2024.

Lido Finance is a leading player in the liquid staking market with a total value of $14 billion in Ethereum. But its holdings in Solana are smaller, with a locked value of $50 million. Additionally, Solana faces stiff competition from other players in the liquid staking niche, such as Marinade Finance and Jito.

We are waiting your comments! What do you think about this? 🤔 Share your ideas about this funding proposal and join the discussion!#LidoFinance#Solana #Blockchain