Solana wind down ‘deemed a necessity’ after low fees, says Lido Finance By Cointelegraph

Solana wind down ‘deemed a necessity’ after low fees, says Lido Finance By Cointelegraph

Solana wind down ‘deemed a necessity’ after low fees, says Lido Finance

Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the blockchain following a community vote in Lido’s decentralized autonomous organization.

The proposal to sunset Lido on Solana was first put forward by Lido’s peer-to-peer team on Sept. 5, citing unsustainable financials and low fees generated by Lido on Solana. Voting commenced on Sept. 29 and finished a week later on Oct. 6.

Lido’s statement on terminating services on Solana. Source: Lido.fi
SOL’s price movements over the last seven days. Source: CoinGecko

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