Lido is the perfect story of a sound business with poor tokenomics.
Staked assets remain near ATHs, while $LDO is down -97% from its ATH.
- Cost of revenue stands at 90%
- Meanwhile, incentives have not increased earnings over the past year.
$LDO used to be thought of as an $ETH beta, if only they would drive some of that revenue back to token holders.
Data: @tokenterminal

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