Lido Finance has made the decision to discontinue its staking services on the Polygon network. This decision was reached after a community vote by Lido token holders.

The platform has faced significant challenges, including limited user adoption and inadequate rewards. As a result, holders of stMATIC will no longer receive network rewards, and users have until June 16, 2025, to unstake their MATIC through the Lido on Polygon interface. After this date, withdrawals will still be possible but will require the use of explorer tools.

Lido on Polygon was launched in 2021 by Shard Labs but has struggled due to changes in decentralized finance dynamics and a shift towards zkEVM solutions. The recent governance decisions by LDO token holders to focus on Ethereum have further influenced the decision to close operations on Polygon.