Lido Drops Polkadot and Kusama Pledge Information Display from Official Website

04/09/2023 02:06 • Digital Disruptors • 89 views

On April 9th, it was reported that Lido’s official website no longer provides Polkadot and Kusama pledge information display. Currently, only Ethereum (ETH), Polygon, and Solana pledge information is available. Data shows that as of now, the total pledged amount of Lido Ethereum has exceeded 11 billion US dollars (5928918 ETH), setting a new historical high.

Lido official website no longer displays Polkadot and Kusama pledge information

Lido, the decentralized finance (DeFi) platform, has recently made an announcement that it will no longer display Polkadot (DOT) and Kusama (KSM) pledge information on its official website. Although Lido has always been open to supporting multiple blockchain projects, it has decided to remove the pledge information for these two projects due to multiple reasons.

The Current Status

As of now, only Ethereum (ETH), Polygon, and Solana pledge information is available on Lido’s official website. The total pledged amount of Lido Ethereum has exceeded 11 billion US dollars (5928918 ETH) as of April 9th, setting a new historical high.

Reason 1: Technical Challenges

According to the Lido team, there have been technical challenges while supporting Polkadot and Kusama. Specifically, the issues are related to the way in which Lido’s smart contract for these two projects is built. The problems are mainly due to the difference in the architecture and handling of staking between these projects and Ethereum.

Reason 2: Community Consensus

Another reason for the removal of Polkadot and Kusama pledge information is community consensus. According to Lido, discussions with the community revealed that the majority of users were interested in Ethereum, Polygon, and Solana. Furthermore, there was a significant lack of interest in Polkadot and Kusama, especially when compared to Ethereum.

Reason 3: Resource Allocation

Finally, Lido has stated that resource allocation is a key factor in its decision to remove Polkadot and Kusama pledge information. Supporting multiple blockchain projects is resource-intensive, and Lido has to balance these resources while providing optimal services to users.

Conclusion

In conclusion, Lido’s decision to remove Polkadot and Kusama pledge information from its official website is due to multiple reasons. These include technical challenges, community consensus, and resource allocation. As Lido continues to grow, it is essential to strike a balance between supporting a diverse range of blockchain projects and providing optimal services to users.

FAQs:

Q1. Is Lido planning to add Polkadot and Kusama pledge information back in the future?

Lido has not announced any plans to add Polkadot and Kusama pledge information back to its official website. However, the company remains open to supporting multiple blockchain projects.

Q2. How can I pledge my ETH to Lido?

To pledge your ETH to Lido, you need to stake your ETH with Lido’s smart contracts. Visit Lido’s official website for more information.

Q3. What is the current market value of Lido?

As of April 2021, Lido’s market value is estimated to be around $1 billion.

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