Lido stops supporting staking service on Polygon

Lido (LDO), a liquid staking solution on top of Ethereum, has announced that it is winding down its services on the Polygon (POL) network, Cointelegraph reported. Lido cited limited user adoption, evolving ecosystem dynamics and a strategic refocusing on Ethereum as reasons for the discontinuation. As a result, Lido has ceased staking and rewards on Polygon, while withdrawals will only be supported until June 16, 2025. In a recent blog post, Lido revealed that this decision was made following a request by LDO holders, DAO forum discussions, as well as a governance proposal that passed with 99% of votes in favor.