Lido to Cease Operations on Polygon Network

According to PANews, Lido, a liquidity staking protocol, has announced plans to discontinue its services on the Polygon network in the coming months. This decision follows extensive discussions on the DAO forum and a community vote, where LDO token holders advocated for the cessation of Lido's operations on the Polygon protocol. The primary reasons cited for this move include a strategic refocus on Ethereum and the lack of scalability of the Polygon POS network. The sunset process for Lido on Polygon is outlined as follows: On December 16, 2024, staking on the Polygon network via Lido will cease, and the user interface will no longer accept new staking requests. A six-month transition period will follow, from December 16, 2024, to June 16, 2025, during which users can 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 no withdrawals can be processed. Finally, on June 16, 2025, front-end support will end, and withdrawals will only be possible through browser tools.