The Lido development team has revealed plans to expand the protocol across several Ethereum Layer 2 scaling solutions.
Lido Expands to Ethereum Layer 2 NetworksAccording to a Monday blog post from the staking protocol’s development team, Lido will expand to multiple Ethereum’s Layer 2 solutions.
The update will bring a wrapped version of Lido’s ETH staking token, termed wstETH, to Layer 2 DeFi.
Lido is a decentralized finance protocol (DeFi) enabling liquid staking of proof-of-stake cryptocurrencies.
It works to address any potential conflicts of interest that may arise between holders of staked Ethereum (stETH) tokens and holders of Lido (LDO) tokens.
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