Lido’s Expansion on Ethereum Layer 2

Lido, a multi-chain liquid staking platform, announced the launch of stETH on Layer 2.

Lido is a multi-chain staking platform for Ethereum, Solana, Polkadot, Polygon and Kusama. The special feature of Lido is that it offers liquid staking for the assets on supported networks. Don’t know what liquid staking is? Click here.

On July 18, Lido published an announcement on its blog, in which they said that Lido is expanding to Ethereum Layer 2 (L2). Now Ethereum stakers have the opportunity to use Lido’s liquid staking. Commissions will become lower for stakers. Also, Ethereum stakers will have access to a variety of DeFi applications that will help increase profits from staked ETH. The announcement was also posted on Lido’s official Twitter.

As stated in the announcement, Lido is going to not only launch L2 support, but also make “Lido’s staked-asset tokens widely available throughout Ethereum Layer 2 as it evolves.” That’s why the company “has already integrated with Argent to make wstETH available on zkSync users and with Aztec.” In addition, Lido is working to integrate with many other companies in the future, which was also discussed in the announcement.

“We believe that our expansion to L2 is the next step on this journey to further improve Ethereum staking accessibility. We look forward to further improving access to Ethereum staking.”

Lido is already one of the main Ehtereum staking platforms. Lido offers 3.9% APR for staked Ethereum, and the amount of staked ETH on the platform is already over $7.3 billion. The expansion of Lido to L2 will undoubtedly strengthen the company’s position in the field of Ehtereum staking.