Lido Finance to End Solana Staking After Overwhelming Community Vote
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Lido Finance decided to stop accepting new Solana (SOL) tokens for staking after a vote by LDO token holders.
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Existing staked SOL tokens can be unstaked until February 2024, after which the front-end service will cease.
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Around $55 million worth of SOL is currently locked in Lido, down from a peak of $440 million in April 2022.
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Over 92% of Lido community voters chose to sunset the SOL staking product instead of continuing it.
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Developers P2P Validator said they took over $480,000 in losses in the past year building the $700,000 product.