Lido plans to use its own funds to buy back its tokens.

Recently, the Lido ecosystem operations team posted a proposal on the community forum, seeking authorization from the Growth Committee to use up to 10,000 stETH from the treasury to repurchase LDO tokens.
The reasoning is straightforward: the current LDO/ETH exchange rate is approximately 0.00016, at a historic low, about 63% below the two-year median, and seriously disconnected from the protocol's fundamentals.
The execution will be cautious—conducted in batches through the Easy Track mechanism, with each batch capped at 1,000 stETH. Trading channels will include CoW Swap, 1inch, Uniswap, and centralized exchanges, with slippage controlled within 3%. All repurchased LDO will be returned to the treasury.
This is not a dividend nor a burn; it is a measured value restoration action.
Using treasury assets to buy back undervalued tokens is logically simple: if the protocol itself is healthy and the market price has deviated significantly from fundamentals, then buybacks are one of the most cost-effective uses of funds at the moment.
The proposal is still under community discussion, and whether it ultimately passes depends on governance voting results.
But the signal this move sends is already very clear: Lido believes LDO is undervalued and is willing to put real money on the line to express this judgment.