Lido Suspends Staking Services on Polygon Network

Staking protocol Lido has announced its plan to discontinue its products on Polygon in the upcoming months.

After a DAO forum discussion and community vote, the Lido Finance team revealed on December 16 that they will be ending all operations on Polygon.

The decision was made by Lido DAO token holders, following a proposal by Shard Labs earlier in 2021. The decision was influenced by challenges such as limited user adoption and changes in the DeFi market.

The transition of Polygon to zkEVM was also a contributing factor in the decreased demand for liquid staking. Additionally, Lido community’s governance decisions to focus on Ethereum have led to the sunsetting of Polygon services.