Lido’s wrapped staked ether (wstETH) is now available on Coinbase’s layer-2 network Base following nearly unanimous approval from Lido’s DAO.
The bridge deployment makes Base the latest protocol to access wstETH, joining the likes of Optimism, Arbitrum, Polygon and Cosmos. The news comes two weeks after LayerZero’s bridging solution was widely called non-canonical by the DAO.
wstETH is a wrapped version of Lido’s popular staked ether (stETH) product that gives the token a constant balance — rather than changing daily to reflect staking rewards — for easier use in DeFi. Around $21 million of wstETH changed hands over the past 24 hours, according to CoinMarketCap.
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