Lido Announces stETH Layer-2 Compatibility as LDO Explodes 160% Weekly
The development team behind Lido announced plans to expand the support for its staked Ether (stETH) across the growing layer 2 ecosystem to allow stakers to enjoy lower fees and access to a new suite of DeFi applications to increase yields.The team also announced integration with ZK-Rollup projects Aztec and zkSync through Argent.
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Lido will begin by supporting wstETH bridging and staking on Layer 2 networks. wstETH is essentially the wrapped, non-rebasing version of its stETH. The main goal is to enable the staking of Ether held by users on L2 networks directly from that L2 without the need to bridge their assets back to the Ethereum mainnet and benefit from the reduced network and protocol fees.
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