Lido community member suggests sunsetting Polygon staking
A community member published a proposal to discontinue support for Polygon on Lido due to a ‘broader uncertainty’ with the Ethereum sidechain project. Ethereum (ETH) liquid staking solution Lido might discontinue support for Polygon (MATIC) months after the protocol paused the MATIC’s staking and withdrawal functionality due to a bug affecting stMATIC withdrawals. According to a new proposal published by a community member , kentie, on Oct. 17, Lido should sunset MATIC staking due to lackluster revenue the protocol generates from Polygon, brand risks, and uncertainty around Polygon’s roadmap. The community member not only suggests sunset ting MATIC support but also makes Lido a “native ETH liquid staking provider and avoids assuming risks from smaller pockets of TVL.” “Overall, Polygon has struggled to retain DeFi TVL compared to other L2s. Both Solana and Polygon TVLs follow a strikingly similar pattern since Oct 2022.” kenti...