Lido on Solana: next steps

Lido on Solana development contributor (p2p) is seeking 1.5 million DAI to fund 12 months of operations.

Breakdown: Development Retainer: $200,000 per quarter to cover development expenses Adoption Incentive Program: $600,000 annually granted for establishing new partnerships and supporting adoption initiatives. Customer Support: $100,000 annually to set up a customer support service that meets industry standards.

Due to unsustainable financials and the low amount of fees generated by Lido on Solana protocol, p2p proposes 2 outcomes to this proposal:

1. Funding to continue operations 2. Sunset to prevent generating losses for p2p and DAO treasury

In case the “Sunset” option is voted in, p2p will provide a detailed timeline and instructions for the users to claim their SOL from protocol contracts. The dates below are rough estimates: 2023-10-16 — New staking deposits are no longer accepted by Lido on Solana 2023-11-17 — Voluntary node operator off-boarding from the pool 2024-02-05 — Frontend support is halted, unstaking is available only through CLI

Similar to the sunset of Lido on Kusama and Lido on Polkadot, a 100k DAI budget would be allocated to cover the sunset costs.

A detailed discussion can be found here - on research forum