TLDR:
- Lido rolls out new one-click staking across multiple networks using Chainlink tech
- ETH holders can now stake from Arbitrum, Base, or Optimism without bridging delays
- System combines token transfers and instructions in single transactions
- Chainlink provides exchange rate data and automated liquidity management
- Solution designed for future expansion to additional networks
Lido has unveiled a new staking system that lets users stake their ETH directly from popular layer-2 networks. The update removes long-standing barriers to entry for ETH holders on networks like Arbitrum, Base, and Optimism.
This fresh approach to staking comes through a partnership with Chainlink, using their Cross-Chain Interoperability Protocol (CCIP). The new system cuts out the usual delays and complications that have made staking from layer-2 networks a hassle for many users.
Before this update, anyone holding ETH on these networks faced a complex process. They had to either swap their ETH through exchanges, often losing value to fees and price differences, or move their ETH back to the main Ethereum network – a process that could stretch out for a week.
The new Direct Staking feature changes all that. Users can now complete their entire staking process with one click, receiving wrapped staked ETH (wstETH) without leaving their preferred network. This streamlined approach marks a big step forward in making staking more user-friendly.
Chainlink’s technology makes this possible by combining two crucial elements in each transaction: the movement of tokens and the instructions for what to do with them. This means users’ ETH and staking commands travel together across networks, creating a smooth experience.
Users now have options for how they want to stake. The first method sends their ETH straight through to Ethereum, stakes it, and returns their wstETH to their layer-2 wallet. A second approach gives users their wstETH right away from a ready-to-use pool, with the behind-the-scenes processes happening later.
The system keeps track of exchange rates through Chainlink’s Data Feeds, making sure users always get the right amount of wstETH for their staked ETH. Another Chainlink service, called Automation, helps manage the movement of ETH between networks by grouping transactions together at regular times.
Speaking about the update, Lido’s Master of DeFi, Jakov Buratović, explained that it helps more people take part in staking while keeping the system decentralized. He pointed out that this matches Lido’s main goal of making staking available to everyone.
Several trading platforms have already started using the new feature. XSwap, OpenOcean, and Interport now offer their users access to this easier staking method. This quick adoption shows that the crypto community sees value in simpler staking options.
The update builds on Lido’s existing system rather than replacing it. The main Lido protocol still runs on Ethereum, but now it’s easier to access from other networks. This design choice means the system can grow to include more networks in the future.
Security played a big part in choosing Chainlink as a partner. Their system includes multiple layers of security checks and has proven itself by handling trillions of dollars worth of crypto transactions. The Risk Management Network adds another layer of protection to keep users’ funds safe.
Johann Eid from Chainlink Labs noted that this update helps users stake their ETH in places where fees are lower and transactions happen faster. He believes making staking easier to access across different networks will help the whole crypto economy grow.
The new system includes features that work together seamlessly. Chainlink provides all the necessary services – moving tokens between networks, checking prices, and managing transactions – in one package. This integrated approach helps keep everything running smoothly.
Users can still get their wstETH the old way if they prefer, but the new method removes unnecessary steps. This flexibility lets people choose what works best for them while making the whole process easier to understand and use.
For layer-2 network users, this update means they can put their ETH to work earning rewards without dealing with complicated processes or long waiting times. The change opens up staking to people who might have found it too complex before.
Technical details aside, this update represents a practical solution to a common problem. It shows how crypto services are becoming more user-friendly, making it easier for people to take part in staking without needing deep technical knowledge.
The update keeps Lido’s main features intact while adding new ways to use them. This careful balance between innovation and stability helps ensure that both new and experienced users can benefit from the changes.
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