TechFlow reports that on September 5, the Lido on Solana team submitted a proposal to the Lido DAO community seeking financial support to continue its development efforts on Solana. Since taking over the project from Chorus One in March 2022, the team has made significant progress in product and business development. However, between 2022 and 2023, the team invested approximately $700,000 into the Lido on Solana project while generating only $220,000 in revenue, resulting in a deficit of $484,000.
To sustain the project's development, the team has proposed two fundamental options:
First, that Lido DAO provide financial support covering development, marketing, and customer support budgets totaling $1.5 million;
Second, initiating a sunset process for Lido on Solana, similar to what occurred with Lido on Polkadot and Kusama.
The team remains confident in the potential of the Solana ecosystem and hopes that Lido on Solana can play a key role in its growth.
