Odaily Planet Daily News The Lido Solana team issued a proposal on the governance platform to seek financial support from Lido DAO. Lido Solana said that since taking over the project from Chorus One in March 2022, significant progress has been made in terms of product and business development. However, the team invested about $700,000, against revenue of $220,000 (including developer fees and milestone rewards), a loss of $484,000.
Lido Solana stated that the Lido DAO Committee’s Resolution No. 1 stopped all incentives for Solana, and it would be difficult to achieve a 2% market share in 2023-2024. For project development, the team proposed two basic solutions: one is that Lido DAO provides financial Support, including development, marketing, and customer support budgets, totaled $1.5 million over twelve months. The second is to start the sunset process of Lido on Solana, which is similar to Lido Polkadot and Kusama.