Crypto Asset Statements - LDO (Lido DAO)

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About this Statement

Bitbuy Technologies Inc. (“Bitbuy” or “we”) believes that our users should understand the crypto assets that they are able to trade using our crypto trading platform (the “Platform”). One of the crypto assets we offer through the Platform is LDO. We created this summary to help you understand the basics of LDO as well as some of the risks involved in acquiring it. While we tried to describe the key features of LDO here, this summary isn’t meant to tell you everything you’d want to know before acquiring it. You should also do your own research on LRC to make sure you are comfortable acquiring it. 


About LDO

LDO is the governance token of Lido DAO. Lido DAO is a liquid staking protocol which works on the Ethereum blockchain. It enables users to stake their ETH in Ethereum’s beacon chain, which locks the assets. Lido DAO then allows these assets to be liquified by issuing stETH.The purpose of the Lido protocol and stETH is to allow those who’ve staked their ETH to retain some liquidity as their ETH is locked until further upgrades to the Ethereum mainnet are completed.



As with all assets, investing in LDO is not without some general risks. Many of these risks are identified and explained in our Risk Statement. In addition to the general risks, we outline some risks that are specific to LDO below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in LDO.

Concentration of LDO held by early investors and developers

When the initial supply of LDO tokens was issued, 22.18% of the entire supply was distributed to early investors and an additional 20% of the supply was distributed to founding developers.1 Investors should consider this distribution and the potential impact that this concentration of tokens could have when evaluating LDO.

Lido DAO’s Reliance on Ethereum Network

As LDO is an ERC-20 token on the Ethereum network, it is highly dependent on the continued stability of that network. Additionally, the Lido protocol’s main function is providing liquidity for ETH that is staked in the Ethereum Beacon Chain.2 Any fundamental issues in the Ethereum network may impact LDO’s smart contract or token value, and any fundamental issues in the Ethereum Beacon Chain may affect the Lido protocol. Investors should consider this dependency when evaluating Lido DAO. 



Regulatory Information 

Bitbuy is offering crypto contracts to purchase and sell LRC in reliance on a prospectus exemption contained in the exemptive relief decision Re Bitbuy Technologies Inc. dated November 30, 2021. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other provinces and territories of Canada would not apply in respect of a misrepresentation in this statement.

No Canadian securities regulatory authority has expressed an opinion about LRC, including an opinion that LDO is not itself a security and/or derivative.



  1. Messari. “Lido DAO Launch & Initial Token Distribution.” February 2023. 
  2. Vasiliy Shapovalov. “How Lido Works.” Lido. November 6, 2020.

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