Lido: NEST automated LDO buyback mechanism launches on mainnet, annual buyback cap $10 million

PANews August 15 news, Lido tweeted that the NEST automated LDO buyback mechanism has launched on mainnet. NEST is a rules-based LDO buyback mechanism: when the DAO's staking revenue surplus exceeds the $40 million baseline, 50% of the surplus will be automatically used to buy LDO via CoW Swap; if revenue in a period falls short of the baseline, the corresponding shortfall will be carried into subsequent accounting and must be offset by new surplus before purchases resume. The daily purchase cap is $50,000, the annual cap is $10 million, and all purchased LDO belongs to the DAO.