Lido DAO is evaluating two options for its NEST buyback mechanism for 2027: linking the revenue threshold to the spending budget, or periodically resetting the negative spending counter. The current model contains a critical flaw: it assumes 39.8 million dollars in expenses across all scenarios, while profits range from 8 million to 10.7 million dollars depending on actual expenses. Annual or quarterly resets only increase purchases by approximately 8%, an effect far smaller than budget corrections. Unaudited first-half 2025 accounts show 15.9 million dollars in net revenue and an overall loss of 4.4 million dollars after a 6-million-dollar Kelp-related one-off charge.
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