Lido management team proposes to request Lido community funding of $1.5 million to sustain development

ChainCatcher message, the management team of Lido Finance on Solana submitted the "Lido Funding Proposal on Solana" to the Lido community.

The proposal states that in order to maintain and develop Lido on Solana, a request for $1.5 million is needed over the next 12 months, which includes a development reserve (quarterly $200,000 for development costs), a marketing budget (annually $600,000 to establish stable and reasonable marketing channels), and customer support (annually $100,000 to establish industry-standard customer support services). During this period, the operations team expects to grow and capture over 1% of the Solana staking market share; develop and implement new features; and formulate a sustainable and reasonable marketing plan. In terms of financial revenue, a 1% share of the Solana staking market will bring in 10,191 SOL in revenue over 12 months, approximately $200,000.

The proposal states that if financial support from Lido DAO cannot be obtained, a sunset process will be initiated: on September 10, Lido on Solana will no longer accept new staking deposits; on October 10, node operators will voluntarily withdraw from the pool; and on February 10, 2024, front-end support will cease, and unstaking can only be done via CLI. In this case, the operations team will seek $20,000 per month from Lido DAO to support its 5-month technical maintenance work starting from September 4. The proposal will begin voting in 4 weeks.