LidohasannouncedtheintegrationofChainlink’sCross-ChainInteroperabilityProtocol(CCIP)toenablecross-chainstakingacrossEthereumlayer-2networkssuchasArbitrum,Base,andOptimism,accordingtoanOct.29statementsharedwithCryptoSlate.
ThisintegrationwillpowerLido’sDirectStakingfeature,allowinguserstostakeETHfromvariousblockchainnetworksandreceivewrappedstakedETH(wstETH)inreturn.Atlaunch,thefeaturesupportsstakingthroughtheArbitrum,Base,andOptimismnetworks.
JakovBuratović,Lido’sMasterofDeFi,commentedthatthisnewstakingapproachenhancesliquidityandsupportscross-chaininteroperabilityacrosslayer-2networks.Hestated:
“ThisalignswithLido’smissiontodemocratizestakingbymakingliquidstakingmoreaccessible,whilemaintainingdecentralizationandadvancingthebroaderDeFiecosystem.”
Alongsidethestakingintegration,LidowillutilizeChainlink’sDataFeedstodeterminewstETH’sredemptionrateonEthereum,providingreliabledatafortheexchangerate.Additionally,LidowilluseChainlinkAutomationtobatchcross-chainETHtransfers,enhancingliquiditymanagement.
AccordingtoLido,ChainlinkCCIPwaschosenforitsadvancedsecuritymeasuresandtheblockchainnetwork’sproventrackrecordinsecuringdecentralizednetworks.Chainlink’sdecentralizedoraclenetworkshavesafeguardedbillionsofdollarsinassetsandfacilitatedtrillionsinon-chaintransactions.
Howitworks
Previously,LidorequireduserstoeitherexchangeETHforwstETHthroughthird-partyplatformsormanuallybridgeETHtotheEthereummainnet.
Withthenewintegration,Lido’sDirectStaking,combinedwithChainlink’sProgrammableTokenTransfer,streamlinesthisprocessintoasingletransaction.UserscannowstaketheirETHdirectlyfromArbitrum,Base,orOptimismandreceivewstETHwithoutextrasteps.
TheDirectStakingfeature,poweredbyCCIP,enablesseamlesscross-chaintransactions.Thisintegrationsupportsnotonlytokentransfersbutalsoincludestokeninstructions,whichChainlink’sProgrammableTokenTransfersfacilitateinonesmoothtransaction.
LidoalsoemphasizedthatthismethodofobtainingwstETHonlayer-2networkscomplementsexistingprocesseswithoutalteringthecoreLidoprotocolorwstETHdeployment.ThestakingprovidernotedthattheDirectStakingfeaturecouldexpandtootherlayer-2andalternativelayer-1networks,increasingaccessibility.
ChainlinkLabs’ChiefBusinessOfficerJohannEidsaidtheintegrationwould“unlockaone-stepconnectiontostakingforLidoonArbitrum,Base,andOptimism,enablinguserstoeasilyaccessthebenefitsof[liquidstakingtokens]inlow-fee,fast-executionenvironments.”
Eidadded:
“LSTshavebecomeanimportantpartoftheDeFieconomyandmakingthemmoreeasilyaccessibleacrossthemulti-chainlandscapethroughtheuseofCCIPwillhelpgrowtheonchaineconomy.”
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