Source: Reference

On December 16, 2024, Lido – the leading liquid staking protocol – officially ceased staking services on Polygon PoS, with a withdrawal period extended until June 16, 2025. After this period, users can only withdraw through the blockchain explorer.

According to the announcement, this decision is driven by several factors: a limited user base, low rewards, high maintenance costs, and a lack of incentives from the ecosystem. Notably, Lido has observed a shift of users from other blockchains to Ethereum – their core platform.

Not only Polygon, but previously, Lido also halted staking services on Solana, Polkadot, and Kusama due to underwhelming business performance.

Currently, Lido's TVL stands at 39.3 billion USD, affirming its leading position in DeFi, while the price of LDO has increased by 21% in the past week, trading around 2.26 USD.