Lido's wstETH goes to Mantle Network
Lido’s staked ETH can now be bridged to the Mantle Network ecosystem.
Lido contributors are pleased to announce the formal launch of Lido’s wrapped staked ETH (wstETH) on the Mantle network.
Mantle is an Ethereum L2 solution featuring an EVM-compatible execution environment. Since launching, Mantle Network has seen almost 50 million total transactions spread across 1.7m unique wallet addresses. DAO-governed and built around the MNT token, Mantle boasts an impressive collection of ecosystem applications for ETH stakers to benefit from, together with a network TVL of $300m+.
The original bridging proposal can be found here: https://research.lido.fi/t/wsteth-deployment-on-mantle/5991
➡️ To bridge your wstETH to Mantle: bridge.mantle.xyz
➡️ For tutorials & instructions: help.lido.fi/en/articles/8842617-bridging-wsteth-to-mantle
What is Mantle?
Mantle Network is a novel EVM-compatible L2 technology stack built for scaling the Ethereum network. Using Mantle, users and developers can interact with exciting Web3 applications in a rapid, low-fee environment. Mantle has been developed using a modular architecture that integrates optimistic rollup protocol with a unique data availability solution to allow for Ethereum security inheritance whilst improving the data accessibility process.
Bridging to Mantle
Bridging to Mantle is straightforward and you can transfer your staked ETH in just a few minutes. Here's how it works:
- Visit bridge.mantle.xyz and connect your wallet.
- Choose the wstETH amount you want to deposit.
- Approve the bridge to interact with your tokens if asked. This will require a small gas fee in ETH to make the approval.
- Proceed with the deposit after confirming the bridging details.
Following this transaction your wstETH will be available on Mantle. In case of issues or questions, refer to the Mantle bridging guide.
Frequently Asked Questions
How can I view my wstETH balance on Mantle in my wallet?
If the wallet doesn’t auto detect your wstETH, you can manually import wstETH into your wallet using the contract address: 0x458ed78EB972a369799fb278c0243b25e5242A83.
Are there any bridging fees?
Network fees are required to pay for the gas costs on Ethereum and Mantle. There are no extra fees specifically for using Mantle native bridge.
How long does it take to bridge?
Depositing to Mantle typically takes about 12 minutes. Withdrawing from Mantle to Ethereum takes approximately 7 days.
Do I need MNT to withdraw wstETH from Mantle?
Yes, you have to initiate a wstETH withdrawal on Mantle first and it takes some MNT as L2 gas fees. For a new user to Mantle, the MNT bonus will be sent to your address after depositing any token (e.g. wstETH) from Ethereum to Mantle.
What’s Next?
The integration of Lido’s wstETH on Mantle brings forth exciting opportunities for users within the Lido and Mantle ecosystems. Over the coming weeks, Mantle users can expect to be able to use their wstETH across a number of Mantle-based applications, including lending, farming, indexing, and more.
This collaboration represents a significant stride towards unifying the Ethereum ecosystem, providing stability, and expanding the options available to users in the L2 space.