Lido on Solana wind down ‘deemed a necessity’ after low fees, says staking firm

[ad_1] Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the Solana blockchain following a community vote in Lido’s decentralized autonomous organization.The proposal to sunset Lido on Solana was first put forward by Lido’s peer-to-peer (P2P) team on Sept. 5, citing unsustainable financials and low fees generated by Lido on Solana. Voting commenced on Sept. 29 and finished a week later, on Oct. 6.“After extensive