- Wu Blockchain announced today that Lido has released a proposal to terminate the Lido project on Polygon.
- Several concerns with Polygon were listed, including its uncertain roadmap as well as its expensive compensation structure.
- This proposal might not have pleased everyone as LDO’s price decreased by over 3% in the past 24 hours.
Earlier today, Wu Blockchain announced on X that the Lido community released a proposal to terminate the Lido project on Polygon. According to the post, the current state of Lido on Polygon reveals several concerning issues.
The Lido community released a proposal to terminate the Lido project on Polygon, citing reasons including recent technical issues; uncertainty Polygon roadmap; no other staking providers on Polygon; it is recommended to focus on a native ETH liquid staking provider.…— Wu Blockchain (@WuBlockchain) October 19, 2023
Despite Lido’s Total Value Locked (TVL) of approximately $86 million on Polygon, the annual revenue for Lido DAO is just $116,863. Furthermore, Lido awarded significant amounts of LDO tokens to Shard Labs as compensation, raising questions about the expensive compensation structure.
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