According to TechFlow, on October 12, Rune Christensen, co-founder of Sky (formerly MakerDAO), completed the sale of 25 million LDO tokens today, which lasted nearly three years. It is reported that Rune sold LDO at an average price of $1.87, with a total profit of $46.73 million, a 221-fold return on the initial investment.
Rune acquired this batch of LDO through investment in December 2020, when Lido raised $2 million in its first round of financing, and investors received 236 million LDO at a unit price of approximately $0.00846. Rune's initial investment was approximately $210,000. Starting in January 2022, Rune will sell these LDO tokens one after another.
Rune used most of the proceeds from the sale of LDO to buy back the MKR token of his own project Sky. Since November 2022, he has invested $30.02 million to buy back 36,041 MKRs, with an average purchase price of $833. At present, the market value of these MKRs has reached $49.26 million, with a floating profit of $19.24 million, an increase of 64%.
As of now, Rune holds a total of 131,884 MKR through two addresses, worth approximately US$180.28 million, accounting for 14.6% of the total MKR supply.
