Lido DAO introduces wstETH to Base

KyberSwap, in addition to SuperBridge and Beefy, leads the group of contributors to Lido DAO. These three individuals are particularly pleased with their work delivering wstETH to Base. The availability of the wstETH Base bridge illustrates the benefits of staking ETH within the Base ecosystem and contributes to the equilibrium and liquidity of Ethereum.

Prior to this, significant deliverances have been carried out via the accessibility of wstETH to Base. These have been made on Arbitrum, as well as Optimism, Polygon, and Cosmos. Since the time of its introduction in August, Base has grown in stature to become one of the top Ethereum L2s, with an enormous user base, one-of-a-kind applications, and a robust developer community.

Users who establish a connection between Base and wstETH will have the opportunity to utilize their staked ETH across the expanding Base DeFi ecosystem. Conversely, the Base protocols will be enhanced with the capability to integrate wstETH, thereby augmenting their utility and liquidity.

The wstETH Base bridge comes with the various advantages associated with Lido’s staked ETH targeting the users, as well as the protocols of Base and helping to take forward the utility of Ethereum L2s. 

In the initial days, the users of Base will be able to interact with wstETH throughout dApps such as KyberSwap, Beefy, and Aerodrome. In the upcoming days, users will be provided with the option of connecting with wstETH through various other protocols.

In the case of bridging to Base, the procedure has been simplified. An inclined user is solely required to establish a connection with the Superbridge application and proceed to the Base option. His wallet must subsequently be appended, and he must choose wstETH.

Subsequently, the user is required to indicate the quantity of wstETH they desire to use for bridging to Base and grant permission to use their bridging tokens. He will be required to sign the transaction as soon as the confirmation is received; there will be a brief delay. Overall, the procedure is as simple as running a hot knife through butter.