Lido Sunsets Polygon PoS Liquid Staking

Gm, frens, it's a bit of a slow news day today. I'll catch up with more news tomorrow. 🫡

Lido Sunsets Polygon Liquid Staking

Listen to this episode from Ethereum News on Spotify. Lido begins to sunset liquid staking for Polygon PoS. And Circle releases a research article on Tornado Cash in collaboration with Stanford Blockchain Review. Read more: https://ethdaily.io/610

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Lido, the leading liquid staking protocol by TVL, initiated the sunset of its liquid staking services for Polygon PoS. Effective today, staking via the Lido UI has been discontinued. Users holding stMATIC are encouraged to initiate withdrawals through the Lido on Polygon UI, which will remain operational until June 16, 2025. Post-June 16, 2025, any remaining withdrawals will have to be processed using block explorer tools. According to Lido, the decision to wind down was driven by factors such as low user adoption, insufficient rewards, high maintenance costs, and a strategic shift towards zkEVM solutions. The sunset was ratified by LDO token holders in a DAO vote held in November.

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