LDO token takes a hit after Lido DAO votes to end liquid staking on Solana
Lido DAO sunsets Solana project due to financial issues, backed by 92% community vote. P2P team considered $1.5M funding or Solana exit due to $484,000 losses. Solana staking to be halted by February 2024. In a decisive move, Lido DAO has chosen to sunset the Lido on Solana project, following a resounding community vote in favour of this course of action. The decision has been attributed to the project’s financial constraints, leaving it unsustainable. Following the move, the value of the LDO token , Lido DAO’s native cryptocurrency, has dropped by almost 4% in the past few hours. Lido DAO (LDO) price chart Sunsetting Lido on Solana The Lido on Solana project will undergo a phased sunset process over the coming months. Notably, stSOL token holders will have until February 2024 to unstake their assets through the Lido on the Solana frontend. This decision was reached after extensive deliberations and a community vote, with over 92% of Lido t...