Crypto liquidity staking platform Lido on Tuesday announced the first steps and technical details about stETH expansion across the Layer-2 DeFi ecosystem. In the initial launch phase, Ethereum (ETH) staking derivatives are bridged to Layer-2 solutions Arbitrum and Optimism.
With Ethereum scaling using Layer-2 ZK-rollups, Lido is also supporting Ethereum by bringing stETH on Layer-2.
Lido Announces Details on Expanding stETH to Layer-2
Ethereum staking provider Lido Finance aims to create highly liquid staking assets having widespread applications across the DeFi space. Lido in a series of tweets on August 16 announced updates on its Layer-2 expansion plan, giving details on the initial phases of development and technical guidelines.
The initial step is bridging ETH staking derivatives to Layer-2 solutions Arbitrum and Optimism, using wrapped stETH (wstETH). It will allow Lido to build Layer-2 ETH staking in the future.
The core developer team developed the bridge contracts for both Layer-2 solutions. It has successfully cleared the audit and all smart contracts are now successfully deployed.
