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Lido Shuts Down on Polygon Amid Low User Adoption

  • Lido Finance, the biggest liquid staking protocol in DeFi, is shutting down its Polygon staking service due to low user adoption and a shift in DeFi dynamics.
  • The decision was made by the Lido Decentralized Autonomous Organization and follows a vote by the community.
  • The timeline for the shutdown includes a six-month transition period, during which users can unstake their tokens.
  • Lido will now focus its resources on the Ethereum network and its growing ecosystem.

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