The Project, the Largest Liquid Stake Protocol, Decided to Stop Staking Services for the Polygon PoS Chain! Here are the Details

Lido, the largest liquid staking protocol by total value locked (TVL), began discontinuing staking services for the Polygon PoS chain following a community-approved vote in November.

Lido Begins to Phase Out Staking Service for Polygon PoS Chain

Lido’s integration with the Polygon PoS network allowed users to stake Polygon’s native MATIC tokens in exchange for liquid staking tokens called stMATIC.

However, the protocol officially stopped the Polygon staking service on Monday, and users were able to withdraw their funds until June 16, 2025. According to the official announcement, withdrawals will still be possible after this date but will require the use of explorer tools.

Lido attributed this decision to a combination of challenges that prevented the service from achieving its desired impact. “Lido on Polygon encountered significant difficulties in achieving the intended effect,” the protocol said. “Several factors have contributed to this situation: limited user adoption, insufficient rewards, resource-intensive maintenance requirements, and evolving ecosystem dynamics.”

The announcement also noted that token holders’ focus is shifting towards Ethereum, where Lido continues to dominate as the leading liquid staking provider.

Earlier this year, Lido DAO approved a “community staking module” initiative aimed at making Ethereum solo staking more accessible and inclusive.

This move mirrors Lido’s decision to shut down its Solana staking service last year. The operational loss of $484,000 far exceeded the revenue of $220,000.

Lido continues to be the largest liquid staking protocol for Ethereum and maintains its position as the top decentralized finance (DeFi) protocol by TVL.

At the time of writing, Lido’s TVL stands at approximately $39.3 billion, underlining its continued dominance in the liquid staking industry.

*This is not investment advice.