Lido DAO Proposes Contingent LDO Market-Making Mandate

Lido DAO contributors have published a governance proposal that would authorize a contingent market-making mandate for the LDO token on centralized exchanges, a precaution aimed at reducing the risk of pair degradation and delistings as trading activity thins.

The “Authorize a Contingent LDO CEX Liquidity Market-Making Mandate” proposal was posted to the Lido Governance forum on September 16, 2026, and has not yet gone to a vote.

Why the DAO Is Acting The proposal points to a sharp decline in LDO trading volume, which the Lido Growth Committee says has made organic market making less profitable and left centralized-exchange pairs more exposed to a review.

A delegate analysis posted in the same thread put average daily volume at roughly $96 million a year ago versus about $33 million over the past three months, with ±2% order-book depth on LDO/USDT of only about $50,000–$90,000 per side as of early September.