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Lido Finance Launches Staked ETH (wstETH) on BNB Chain

Twitter icon  •  Published 4 months ago on August 16, 2024  •  Hassan Maishera

The Lido Finance team announced via a blog post on Thursday that it has launched staked ETH (wstETH) on BNBChain.

Lido Finance Launches Staked ETH (wstETH) on BNB Chain

The Lido Finance team announced via a blog post on Thursday that it has launched staked ETH (wstETH) on BNBChain. This canonical bridge to BNB Chain paves the way for Lido’s staked ETH into the prolific and well-developed DeFi ecosystem.

This expansion represents Lido’s first secure integration with a Layer-1 blockchain beyond the Ethereum ecosystem.

Lido is a secure liquid staking solution for proof-of-stake (PoS) cryptocurrencies that supports Ethereum 2.0 (The Merge) staking and a growing ecosystem of other Layer 1 PoS blockchains. Its native LDO token is down 4% in the last 24 hours and is trading at $1.012 per coin.

BNB powers the BNB Chain ecosystem and is the native coin of the BNB Beacon Chain and BNB Smart Chain. BNB is up 1% in the last 24 hours and now trades at $524 per coin.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.