News - Lido Finance discontinues Solana service

By Mike Hesp

Lido Finance discontinues Solana service

Lido DAO (LDO)
Ethereum (ETH)
Solana (SOL)

Unlike Ethereum, Lido's market share in the Solana ecosystem is marginal. This is what users should pay attention to now.

As of now, Solana strike through the provider Lido Finance no longer possible. The project announced this in a blog post.

In the application, payments in the protocol have been deactivated accordingly. However, until February 4, 2024, users can have their strike income paid as usual. After that, this will only be possible through the command line interface. Rewards will remain active until then.

The decision followed a vote in the DAO. The reason for the cessation of strike on Solana was competition. Lido was only able to get one percent of the market share on this blockchain.

According to a Lido DAO post by the team, even achieving 2 percent market share in the next few years is unlikely and unprofitable.

On Ethereum, for example, Lido recently reached just over 30 percent, which also raises concerns about centralization.

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