Liquid staking protocol Lido Finance has decided to terminate staking services for Polkadot (DOT) and Kusama (KSM).
MixBytes In a blog post by the alias Lido Finance developer, August 1, 2023 It has been stated that staking services of Polkadot and Kusama blockchains will be removed from the Lido Finance protocol as of date.
The protocol has already stopped new staking for DOT and KSM at the time of writing. According to the description June 22From , all DOT and KSM assets are automatically removed from the staking service. to be removed And will be returned to user wallets.
According to the data provided by the protocol, the total on Lido Finance 4 million dollars DOT staked worth $75,000 worth of KSM. The details of the blog post are based on the decision in question. from lack of liquidity It has been stated that it originated from:
Challenging macroeconomic factors and the contiguous lack of liquidity in Polkadot’s DeFi ecosystem have undermined the value proposition of liquid staking.