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Lido sunsets staking on Polygon network

Author: Content Editor
Popular staking protocol Lido has announced that it will be discontinuing its operations on the Polygon network in the coming months. The decision was made by Lido DAO token holders following a community vote. Several factors influenced the move, including limited user adoption and changes in the decentralized finance ecosystem. The transition to zkEVM on Polygon also contributed to a decline in staking activity. The discontinuation process will begin on December 16, 2024, and a six-month transition period will allow users to unstake their Polygon tokens. Lido is currently the largest liquid staking protocol in the DeFi market, with a total value locked of $38.4 billion.

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