Lido Finance, a decentralized finance (DeFi) protocol and third-party staking pool operator for Ethereum (ETH) 2.0, aims to expand services across various Ethereum Layer 2 (L2) scaling solutions. Meanwhile, a new proposal seeks to secure around two years of "operating runway" for Lido DAO in stablecoins.
In a blog post on Monday, Lido announced plans to expand to several of Ethereum’s L2 solutions. The team explained that they will begin by supporting ether staking via bridges to L2s using a wrapped version of Lido’s ETH staking token, dubbed wstETH.
They eventually intend to allow users to stake directly on the Layer-2s “without the need to bridge their assets back” to the Ethereum mainnet.
As a reminder, Layer 1 is the Ethereum blockchain, while Layer 2s are separate blockchains built on top of the L1, which extend and scale Ethereum by processing transactions off of the Ethereum Mainnet.
The Lido team said that the project was “network-agnostic” and had plans to expand to...
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