Lido DAO Receives Request for $1.5 Million Funding to Expand Solana Liquid Staking

A bunch referred to as the P2P staff has requested $1.5 million in funding from the favored staking supplier Lido DAO to additional develop Lido’s staking service for the Solana (SOL) community.
The request from the P2P staff was printed as a proposal on Lido DAO’s governance discussion board, with the staff saying it wants $800,000 yearly to cowl improvement bills, and as a lot as $600,000 yearly for advertising and marketing.
In whole, $1.5 million is required for the following 12 months, the staff wrote.

‘Sundown course of’
If the request for funding just isn’t permitted, the staff stated {that a} “sundown course of” for Lido on Solana needs to be initiated.
The staff proposed the method might begin as early as September 10 with no new staking deposits being accepted by Lido on Solana.
It added that on October 10, voluntary node operators could possibly be off-boarded from the liquidity pool, and on February 2 subsequent yr all frontend assist could be halted.
Solana has proven ‘outstanding promise’
“We firmly consider within the potential of the Solana ecosystem and are assured that Lido on Solana can play a pivotal position in its development,” the staff wrote within the proposal, whereas praising Solana for its “outstanding promise in scalability, velocity, and innovation.”
“With the proposed monetary backing, we cannot solely maintain our operations but additionally innovate, develop, and contribute extra worth to the Lido DAO and the broader Solana ecosystem,” the staff added.
The P2P staff is the entity answerable for managing Lido’s companies on Solana, a service that has seen sturdy development in latest months.
The staff operates a validator on the Solana community and has developed infrastructure that’s utilized by a number of Solana-based tasks.