Closure of Lido on Solana 'deemed a necessity' after low fees, says staking company

Unsustainable finance And weak costs generated by Pool on Solana were two of THE main the reasons For THE timeout.

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Decentralized liquid staking protocol Pool Finance has announcement A decision has cease operations on THE Solana blockchain following A community vote In The Lido decentralized autonomous organization.

THE proposal has sunset Pool on Solana was First of all put Before by The Lido equals team on Seven. 5, quoting unsustainable finance And weak costs generated by Pool on Solana. Vote begin on Seven. 29 And finished A week later on October. 6.

"After extensive DAO forum discussion follow up by community vote, THE time delay of THE Pool on Solana protocol was approved by Pool token holders And THE process will to start shortly," Pool explain In A October. 16 post.

Pool will not be accepting staking requests as of October. 16. Voluntary node operator Landing will to start on Nov. 17 And Pool users will need has defuse on Solana's front end by Feb. 4.

"After This date, without play will need has be do using THE CLI”, Pool added.

After extensive DAO discussion follow up by community vote, THE time delay of Pool on Solana was approved by YES holders And will to start shortly.

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

— Pool (@LidoFinance) October 16, 2023

THE earlier proposal saw Pool while searching $20,000 by month Since Pool DAO has support technical Mom...