{"id":19609,"date":"2024-12-17T13:20:00","date_gmt":"2024-12-17T11:20:00","guid":{"rendered":"https:\/\/forklog.com\/en\/lido-to-cease-support-for-polygon\/"},"modified":"2024-12-17T13:20:00","modified_gmt":"2024-12-17T11:20:00","slug":"lido-to-cease-support-for-polygon","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lido-to-cease-support-for-polygon\/","title":{"rendered":"Lido to Cease Support for Polygon"},"content":{"rendered":"<p>The team behind the liquid staking protocol Lido Finance has halted operations on the PoS blockchain Polygon.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Lido on Polygon sunset process has begun.<a href=\"https:\/\/t.co\/icgidJsbqF\">https:\/\/t.co\/icgidJsbqF<\/a><\/p>\n<p>See below for an overview of upcoming timelines and requirements ??<\/p>\n<p>\u2014 Lido (@LidoFinance) <a href=\"https:\/\/twitter.com\/LidoFinance\/status\/1868668099345666540?ref_src=twsrc%5Etfw\">December 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Withdrawals are available until June 16, 2025, after which they will be accessible through explorer tools.<\/p>\n<p>The proposal to discontinue support for Polygon was introduced in October 2023.<\/p>\n<p>Following extensive discussions, it was <a href=\"https:\/\/snapshot.org\/?ref=blog.lido.fi#\/lido-snapshot.eth\/proposal\/0x2f745cb0147791cf656ab292f872f8277ff9df5c9585dbc6622dbda88362d402\">approved<\/a> in November 2024.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSeveral factors contributed to this decision: limited user adoption, insufficient rewards, resource-intensive maintenance requirements, and the changing dynamics of the ecosystem,\u201d<\/em> the project&#8217;s blog stated.<\/p>\n<\/blockquote>\n<p>Earlier, Lido Finance announced the end of support for Solana.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>, the service is also available on Ethereum, Moonriver, Moonbeam, and Terra Classic networks.<\/p>\n<p>With a <span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> of $39.34 billion, the project is a leader in the segment and the DeFi sector overall.<\/p>\n<p>In November, a U.S. court confirmed the responsibility of Lido DAO members for the organization&#8217;s activities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team behind the liquid staking protocol Lido Finance has halted operations on the PoS blockchain Polygon. The Lido on Polygon sunset process has begun.https:\/\/t.co\/icgidJsbqF See below for an overview of upcoming timelines and requirements ?? \u2014 Lido (@LidoFinance) December 16, 2024 Withdrawals are available until June 16, 2025, after which they will be accessible [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1387,1264,1134],"class_list":["post-19609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-lido","tag-polygon-matic","tag-technical-updates"],"aioseo_notices":[],"amp_enabled":true,"views":"52","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19609"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19608"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}