Staking Project Lido Allocates $6M for Developing Ethereum

Staking project Lido Finance has allocated two million of its native LDO tokens worth $6 million to the Protocol Guild in an effort to fund the development of the Ethereum protocol. Lido Finance’s governance forum has passed a vote to allocate $6 million via the Protocol Guild, a funding tool that supports developmental activities, pertaining to the Layer 2 space. In addition to that, it also offers autonomous recruitment, retention, and reward mechanisms for contributors to the core Ethereum protocol. The Protocol Guild offers a public goods funding mechanism for maintaining the Ethereum protocol to create a financial incentivize for improving the core Ethereum codebase as well as supporting both individuals and teams. The funding concept came about as a response to correcting the inadequacies in terms of retroactive funding methods. Other issues include problems among individual contributors since their designs are prioritized mainly by projects and teams.The post Staking Project Lido Allocates $6M for Developing Ethereum first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Staking Project Lido Allocates $6M for Developing Ethereum appeared first on Cryptoknowmics-Crypto News and Media Platform.