Lido cut 15% staff, talk say cost high despite TVL boom
Ethereum liquid staking protocol Lido don announce say dem go cut 15% staff dem to control the rising operational costs. Co-founder Vasiliy Shapovalov confirm for social media say the cuts na because of cost, no be because of work performance. The reduction dey affect people dem for Lido Labs, Lido Alliance plus the wider ecosystem, and e be the first time the protocol cut staff since dem start for 2020. Even with the cuts, Lido Total Value Locked (TVL) pass $31 billion, wey dey well above Binance Staked ETH wey get $10.4 billion. Lido hold over 60% of liquid staking tokens, with 8.9 million staked Ether (stETH). Governance token dem LDO don climb almost 30% for the last one month. Recent dual-governance reforms allow stETH holders to delay proposals for up to 45 days, wey go help increase decentralization. These measures show say Lido dey focused on cutting costs and growing strong with steady TVL increases.
Neutral
Di announcement sayin dem go cut 15% staff fit make traders dey worry small for short term, but Lido market strong metrics and recent token gains dey show say platform still strong. TVL still dey above $31 billion, and Lido dey control over 60% of liquid staking volume. LDO token don rally near 30% last month, wey mean traders get confidence even as dem dey cut cost. Historically, big protocols like Aave or Coinbase don do layoffs before without e affect token performance long term as fundamental them stay strong. For short term, small wahala fit happen around governance votes or operational announcements. But focus for sustainable growth and better dual-governance protection suppose support market stability. Overall, di news balance cost discipline with strong network metrics, wey mean outlook for crypto traders stay neutral.