Lido Finance team integrated L2 solutions from Arbitrum and Optimism

Lido Finance team integrated L2 solutions from Arbitrum and Optimism

The Lido Finance team has integrated L2 solutions from Arbitrum and Optimism

The Lido Finance developers have updated their plan for integrating second-tier solutions. The first step towards its implementation was the addition of support for the Arbitrum and Optimism protocols.

The team emphasized that staking derivatives will fully retain their properties. However, due to the peculiarities of the architecture of the tokens, instead of stETH, L2 solutions will use its wrapped version – wstETH.

“The goal of Lido is to create a collection of highly liquid staking assets with broad application in DeFi. L2 solutions provide a clear path to achieving this ambitious goal. Although the ultimate goal is to directly stake ETH from L2, it all starts with a smooth connection of tokens,” the developers noted.

The bridge contracts developed by the team for Optimism and Arbitrum have already been externally audited.< /p>

Lido Finance is the largest service for liquid staking of cryptocurrencies. The protocol allows you to deposit coins into a relevant contract and receive in return an amount of “derivative” tokens that can be used in DeFi services.

Arbitrum and Optimism are the most popular second-tier solutions, according to L2Beat. At the time of writing, their TVL figures are $2.91 billion and $1.84 billion, respectively. 

Recall that in July, the Lido Finance team announced the launch of the Ethereum 2.0 liquid staking service in L2 networks.

At the same time, the platform was integrated with Aztec and Argent. The first is a privacy-focused layer 2 network using ZK-Rollups technology, the second is a crypto wallet provider that uses Matter Labs' zkSync solution.