Lido DAO LDO

Commentary versus actual token vesting

1) Bucket Unlocking & Current Status All early vesting (founding early contributors, early investors, and the 2021 treasury diversification rounds) have fully vested and unlocked; no legacy lock-ups remain in force. Only two locked positions persist, and neither represents a conventional insider overhang: - Asset-Recovery Lock (48,934,690 LDO): Re-vested via the Aragon TokenManager to 11 addresses, locked until 1 Jan 2027. This is a governance remedy for a compromised lholder wallet, not a new issuance. - Token Reward Plan (TRP) Escrows: Ongoing contributor incentives under a ceiling of 22M LDO (2.2% of supply) across a four-year window from Nov 2022. Grants are deployed as individual escrows from a public, audited factory 0xDA1DF6442aFD2EC36aBEa91029794B9b2156ADD0, funded from TRP multisig 0x834560F580764Bc2e0B16925F8bF229bb00cB759. 2) Communicated & Governance Approved Changes No modification to any existing vesting schedule has ever been made. The genesis terms — 0% unlocked at the 18 Dec 2021 cliff, then linear release to 18 Dec 2022, were enforced by the Aragon TokenManager (0xf73a1260d222f447210581DDf212D915c09a3249). No cliff was shortened, no schedule accelerated. What governance has changed instead is the set of allocations, not the terms of any existing one. Each addition was authorised by binding public vote and deployed under the same on-chain mechanics: - Treasury diversifications 99M LDO (May 2021, Aragon votes 64/65) and 10M LDO (Aug 2022, Aragon vote 137), both vesting through the TokenManager on the same basis as genesis. - Token Reward Plan Authorised Nov 2022 with a 22M LDO ceiling; administration transferred to Lido Labs Foundation in Nov 2025. The transfer moved the administering entity. - Long-Term Incentive programme Formally superseded by the TRP. A programme retired, not a schedule rewritten. - Asset-recovery re-vesting 48,934,690 LDO placed under a new lock to 1 Jan 2027. The only instance of tokens being put back into vesting, and it concerns a compromised holder wallet.