Staking protocol Lido is shutting down its operations on the Polygon network due to limited user adoption, shifting ecosystem dynamics, and a strategic focus on Ethereum. The decision was made after a request by Lido DAO Token (LDO) holders, extensive DAO forum discussion, and a community vote where 99% favored the proposal.
The Lido team cited challenges on Polygon, such as resource-intensive maintenance requirements, insufficient rewards, and the shifting landscape of DeFi. They also mentioned the increased focus on zkEVM solutions and the smaller-than-anticipated Polygon ecosystem. As of Dec. 16, Lido staking requests on Polygon are no longer available, but users can still withdraw their staked MATIC through the Lido interface on Polygon up until June 16, 2025.
All rewards have been discontinued. The protocol will also temporarily suspend all withdrawals between Jan. 15 and Jan. 22 next year. By June 16, the Lido team says front-end support will end, and withdrawals can only be processed through browser tools.
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