Lido, the leading liquid staking protocol, has announced that it will be ending its liquid staking operations on Polygon. 🛑 After extensive discussions and a community vote on the DAO forum, LDO token holders have approved this decision.

Launched in 2021 by Shard Labs, Lido on Polygon has faced challenges such as low user adoption and high maintenance costs. The changes in the DeFi space and the increasing interest in zkEVM solutions influenced this decision.

New staking operations will stop on December 16, 2024, and users can unstake MATIC tokens until June 16, 2025. After this date, withdrawals will only be made through blockchain explorer tools. ⏳