• On 16 October, Lido announced its plan to exit Solana.
• SOL rallied by over 5% in the past 24 hours.

Leading decentralized liquid staking protocol Lido Finance [LDO] has announced that it will cease operations on the Solana [SOL] blockchain. The decision was made following a community vote and will be implemented in a phased approach over the next few months.

After extensive DAO discussion followed by community vote, the sunsetting of Lido on Solana was approved by LDO holders and will begin shortly.

More information here: https://t.co/MyImL1qpap

— Lido (@LidoFinance) October 16, 2023

Realistic or not, here’s SOL’s market cap in ETH terms

Lido’s brief stint on Solana

Lido launched on Solana in September 2021 and allowed the chain’s users to stake their SOL coins in return for Staked Solana [stSOL] tokens.

Two years into its operation on the chain, Yuri Mediakov, who leads P2P Validator, the development team overseeing Lido on Solana since March 2022, put forth a funding prop

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Author: Abiodun Oladokun

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