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Lido Withdraws from Solana Blockchain

In a recent article published on October 16 on the Lido blog, the multi-chain staking solution announced a major decision: its gradual withdrawal from the Solana blockchain in the coming months.

Towards a New Horizon

The Peer-to-peer (P2P) team, recognized for its major contributions to the Lido DAO and for leading the integration of Lido on Solana since March 2022, recently presented two possible options: either continue the development or stop Lido on Solana.

After intense consideration and a decisive vote, the second option was chosen, officially announcing the gradual cessation of Lido on the Solana blockchain.

A Clear Timeline

Additionally, the announcement highlighted two key dates: November 17, when the voluntary node operator disengagement process will begin, and February 4, 2024, the day Lido’s front-end on Solana will end. From this latter date, unstaking will only be possible via Command Line Interface (CLI).

The Premises of a Vote

Previously, in a publication on September 5, Yuri Mediakov and the P2P team put forth a proposal to end Lido’s operations on Solana by February 2024. This proposal detailed a five-month phasing out of Lido’s Solana support, with a monthly budget of $20,000 allocated to maintenance fees.

Four weeks later, the voting process for this proposal was launched, providing the community with a platform for discussion on the Lido forum.

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