#MarketNewHype
Lido will stop operating on the Polygon network🚨🚨🚨🚨
According to PANews, Lido, a liquidity staking protocol, has announced its plans to discontinue its services on the Polygon network in the coming months. This decision comes after extensive discussions in the DAO forum and a community vote, where LDO token holders advocated for the cessation of Lido's operations on the Polygon protocol. The main reasons cited for this measure include a strategic refocus on Ethereum and the lack of scalability of the Polygon POS network.
The process of winding down Lido on Polygon is described as follows: on December 16, 2024, staking on the Polygon network through Lido will cease, and the user interface will no longer accept new staking requests. A transition period of six months will follow, from December 16, 2024, to June 16, 2025, during which users will be able to withdraw their stakes through the Lido interface on Polygon. Between January 15 and January 22, 2025, the protocol will undergo a temporary suspension, during which withdrawals will not be processed. Finally, on June 16, 2025, frontend support will end, and withdrawals will only be possible through browser tools.
