About $25 million in stSOL was inadvertently blocked in the Lido Finance smart contract on the Solana network. Some users worry about the safety of their funds.
In October 2023, Lido decided to stop operations on the Solana blockchain after the DAO vote. Finally, support for the ecosystem was stopped in February 2024, but, apparently, not everyone had time to withdraw funds for technical reasons.
Before the complete shutdown, users could cancel the SOL lock using a convenient UI, but then this option remained only through the Solana command-line interface (CLI).
A user under the nickname eggpanned said that the CLI was too complicated for some community members, and the thematic Discord channel is a "complete mess".
A number of users also encountered unknown errors, despite following the instructions from the Lido team.
"It is not possible to cancel the stSOL bid, because neither of the two solutions presented on the Lido website actually works," ericxtang wrote in a Discord channel on March 15.
According to Solscan, at the time of writing, 112,703 STSOLS worth more than $25 million are still in circulation. There are a total of 31,590 holders.
In a message dated March 30, P2P Validator product manager Pavel Pavlov said that there is a problem with the smart contract underlying the withdrawal function.
Despite the detection of a malfunction, the project "has no levers of influence on the situation," Pavlov said. He has already turned to the Lido DAO, since the smart contract can only be changed after the community's decision.
According to him, the team is also exploring workarounds that do not require changes to the code:
"I can imagine how disappointing this news can be, but unfortunately, at the moment there is no exact time [to resolve the problem]. As stated earlier, the team is fully committed and diligently exploring many different paths."
Some users suggested using the Sanctum or Jupiter protocols to exchange stSOL for SOL or other liquid staking tokens.
Recall that at the end of February, the value of assets blocked in Lido reached $30.56 billion. The platform absolutely dominates the segment, controlling 32% of the total ETH staking volume.
Against this background, the liquid restaking sector continues to gain popularity — the total blocked value on such platforms exceeded $8.6 billion.
In October 2023, Lido decided to stop operations on the Solana blockchain after the DAO vote. Finally, support for the ecosystem was stopped in February 2024, but, apparently, not everyone had time to withdraw funds for technical reasons.
Before the complete shutdown, users could cancel the SOL lock using a convenient UI, but then this option remained only through the Solana command-line interface (CLI).
A user under the nickname eggpanned said that the CLI was too complicated for some community members, and the thematic Discord channel is a "complete mess".
A number of users also encountered unknown errors, despite following the instructions from the Lido team.
"It is not possible to cancel the stSOL bid, because neither of the two solutions presented on the Lido website actually works," ericxtang wrote in a Discord channel on March 15.
According to Solscan, at the time of writing, 112,703 STSOLS worth more than $25 million are still in circulation. There are a total of 31,590 holders.
In a message dated March 30, P2P Validator product manager Pavel Pavlov said that there is a problem with the smart contract underlying the withdrawal function.
Despite the detection of a malfunction, the project "has no levers of influence on the situation," Pavlov said. He has already turned to the Lido DAO, since the smart contract can only be changed after the community's decision.
According to him, the team is also exploring workarounds that do not require changes to the code:
"I can imagine how disappointing this news can be, but unfortunately, at the moment there is no exact time [to resolve the problem]. As stated earlier, the team is fully committed and diligently exploring many different paths."
Some users suggested using the Sanctum or Jupiter protocols to exchange stSOL for SOL or other liquid staking tokens.
Recall that at the end of February, the value of assets blocked in Lido reached $30.56 billion. The platform absolutely dominates the segment, controlling 32% of the total ETH staking volume.
Against this background, the liquid restaking sector continues to gain popularity — the total blocked value on such platforms exceeded $8.6 billion.
