DeFi liquid staking protocol Lido Finance plans to total enhance for its services and products on the Polkadot and Kusama networks.

A proposal posted to Lido’s governance forum on Tuesday introduced a structured timeline for sunsetting liquid staking on the two ecosystems.

Kosta Zherebtsov, chief product officer at Lido’s associate developer company MixBytes, acknowledged that his crew would no longer save and technically enhance Lido on Polkadot and Kusama by August 2023.

“We intend to make the sunsetting job as straightforward and seamless as imaginable for our customers and partners who grasp supported us,” acknowledged Zherebtsov.

He attributed the resolution to market conditions, protocol enhance, restricted potential and alignment of priorities.

As per the timeline, modern staking deposits into Lido on Polkadot and Kusama would be stopped as early as March 15, whereas rewards and redemptions would come to a dwell in June. Within the following month, all funds would be relocated to parachains and services and products would be formally terminated by Aug. 1.

MixBytes is looking out out for $20,000 month-to-month from the LidoDAO to enhance technical upkeep efforts for the five months leading up to this date.

“We continue to deem in and enhance Polkadot’s potential as a blockchain network and dwell dedicated to pursuing development and contributing to the ecosystem,” acknowledged Zherebtsov.

Polkadot (DOT) is an starting up-provide multichain protocol that facilitates blockchain interoperability. Kusama (KSM), usually described as Polkadot’s  “wild cousin,” is a standalone network which works as a sandbox atmosphere for builders to take a look at early versions of their projects in an atmosphere with staunch economic fee.

After Ethereum, Polkadot and Kusama are the leading blockchains in phrases of development activity. Meanwhile, Lido is DeFi’s finest protocol with round $9 billion worth of sources locked.

At the time of writing $22.46 million DOT and $2.37 million KSM grasp been staked by Lido, as per records from DeFiLlama.