# Lido's updated treasury diversification proposal passed

By [likerogue](https://paragraph.com/@likerogue) · 2022-08-05

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According to Foresight News, Lido Finance's updated treasury diversification proposal ended at 0:00 on August 5th, Beijing time. The proposal has passed 99% of the approval rate. Lido will sell 10 million LDOs to Dragonfly Capital.

Foresight News previously reported that Lido Finance released a proposal in mid-July to sell 20 million LDOs at a price of $1.452153, and Dragonfly Capital planned to buy 10 million, but the proposal ultimately failed to pass the vote. Lido Finance later amended the proposal to add a one-year lock-up period on tokens sold to Dragonfly Capital. In addition, upon completion of the voting, Dragonfly Capital will select the higher-priced option between the previous weighted average price plus a 50% premium (approximately $1.45), the 7-day weighted price average plus a 5% premium, and if If the LDO price exceeds $2.25 within the voting schedule, DragonFly will be able to forgo the purchase.

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*Originally published on [likerogue](https://paragraph.com/@likerogue/lido-s-updated-treasury-diversification-proposal-passed)*