Summary
TLDR: Over $21 million in Solana (SOL) is locked in Lido’s staking protocol, leading to turmoil in the community and highlighting risks in DeFi systems. Lido discontinued its Solana service, leaving users unable to withdraw their investments due to a bug in the smart contracts. This has caused frustration among stakeholders and forced them to interact directly with the code, posing challenges for those with limited technical knowledge. Despite this, Solana’s DeFi presence remains strong, with platforms like Marinade Finance and Jito showing significant staked assets.
Key Points
1. Over $21 million in Solana (SOL) is locked within Lido’s staking protocol, causing turmoil in the community and highlighting risks in decentralized finance (DeFi) systems.
2. Lido discontinued its Solana service in October, leading to the removal of its stSOL and SOL exchange interface. Despite this, 112,923.29 SOL remains locked, affecting 31,585 users, with a valuation of approximately $21 million.
3. A bug in Lido’s smart contracts has emerged, preventing users from withdrawing their investments and forcing stakeholders to interact directly with the code, leading to challenges, especially for those with limited technical knowledge.