“Lido DAO Declines ETH Refund Request from SushiSwap”

Lido DAO, the governing body of decentralized lending platform Lido Finance, has objected to returning a small portion of the seized SushiSwap funds.

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SushiSwap, which experienced a loss of $3.3 million in cryptocurrencies due to a recent application flaw, has successfully recovered most of the funds. The Lido vault of the DeFi platform repurchased 885 Ethereum, leaving them with approximately 40 ETH tokens.

Michael Patryn, one of the co-founders of QuadrigaCX, who is accused of misusing the decentralized platform, reportedly assessed certain stolen ETH tokens using the Lido Finance platform. Meanwhile, the management of Lido DAO initiated a vote last weekend regarding the return of 40 Ethereum tokens in the executive award category.

Interesting Result from the Returns Vote!

The vote for the return of ETH tokens to SushiSwap had a negative outcome. Around 99% of preferred governance members opposed the return, declining the proposal.

Following the event, one of the Lido executives, known as Hasu, highlighted the significant implications of the vote for the future governance of the DAO. Hasu expressed his belief that it is not appropriate for Lido to act as an intermediary between third parties.


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