Over $20 Million Value of SOL Locked in Lido’s Staking Protocol

• In response to Satoshi Membership, over $20M of SOL stays locked on Lido’s protocol.
• Lido formally ceased assist for Solana on February 4.
• Pavel Pavlov famous that the complication stems from a glitch in Lido’s sensible contract.

In response to Satoshi Membership, a crypto information broadcaster on X, over $20 million of SOL stays locked on Lido after its service discontinuation for Solana. In a latest put up, the broadcaster famous that Lido formally ceased assist for Solana on February 4, but 112,923.29 SOL stays locked, affecting 31,585 customers.

Lido reportedly discontinued providers for Solana following a glitch inside its sensible contracts. Consequently, customers who staked SOL on the platform couldn’t withdraw their belongings. In response to latest revelations, the shortcoming of customers to withdraw their staked SOL on Lido is because of newly recognized bugs.

Pavel Pavlov, a product supervisor at P2P, the group answerable for working Lido on Solana, alerted the group on the SOL withdrawal points. On March 30, Pavlov famous through a Discord message that the complication stems from the “cut up operate” employed through the withdrawal part of the sensible contract. 

The product supervisor emphasised the complexity and time required to amend the Sensible Contract. He additionally cited plans by the technical crew to seek the advice of with Lido DAO over the difficulty. In response to him, the deliberate session goals to debate the subsequent steps and set up timelines for resolving the matter.

Notably, Pavlov’s report coincides with a droop in SOL’s value that noticed the cryptocurrency drop by 13% up to now 4 days. SOL pulled again from $204.25 on April 1, dropping to $175.89 inside 48 hours. The altcoin traded for $183.12 on the time of writing, following an tried return of the bullish pattern, in line with knowledge from TradingView.

A number of customers have had difficulties unstaking their SOL tokens on Lido because the February 4 discontinuation of service. The method is extra complicated for customers unfamiliar with the protocol’s command-line interface (CLI).