In the wake of Lido Finance’s withdrawal from the Solana network, a proposal has surfaced among community members to sunset the...
Citing low ROI, reputation risks, and a lack of a clear roadmap, among other reasons, a new proposal to take Lido off Polygon is being considered.The proposal’s author Kentie highlighted a number of reasons for the suggestion made. According to Kentie, the total value locked on Polygon is around $86 million. And the network generates annual fees of $166,863 for Lido DAO.
Kentie noted further that Lido’s reputation may be at risk due to a technical bug that halted withdrawals on the protocol’s Polygon deployment for 25 days. Additionally, the expensive compensation structure for Shard Labs, the uncertainties in Polygon’s roadmap, coupled with limited competition in the liquid staking market on Polygon, were the other reasons cited by Kentie in support of the proposal to sunset Lido on Polygon.“In short, I propose to sunset Lido on Polygon to become a native ETH liquid staking provider and avoid assuming risks from smaller pockets of TVL.
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