Hassan Maishera
Chainlink announced via X on Tuesday that Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is powering Lido’s new Direct Staking rails. Lido Staking allows users to stake their ETH directly from other blockchain networks and receive wstETH.
It leverages CCIP’s Programmable Token Transfer functionality to abstract away the process of a user transferring and staking ETH on Ethereum, increasing the accessibility and liquidity of wstETH across the multi-chain economy.
By leveraging CCIP’s Programmable Token Transfers, users can now stake their ETH from Arbitrum, Base, or Optimism and receive wstETH in return in a single transaction. Specifically, Lido’s Direct Staking rails enable multiple different methods of staking ETH from L2 networks, depending on the cost and speed preference of users.
Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is up 5% over the past 24 hours and is trading at $12.02 at press time.
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 up 2% in the last 24 hours, trading at $1.096 per coin.
