Lido on Scroll
Lido’s staked ETH can now be bridged to Scroll 📜
In collaboration with the Scroll team, Lido DAO contributors are pleased to announce the deployment of wstETH on Scroll, paving the way for the development of staked ETH as a core asset across the Scroll ecosystem.
Scroll launched their mainnet on October 17th 2023 and has since then experienced impressive growth with over $70m in bridged TVL across 3m unique wallet addresses. With Lido’s wstETH being a critical asset across the Ethereum ecosystem, the deployment on Scroll represents a significant opportunity to further develop and mature the associated Scroll DeFi landscape.
The deployment of wstETH on Scroll marks the start of an exciting journey with multiple new integrations to be announced over the coming months. Keep your eyes out for more news.
➡️ To bridge your wstETH to Scroll: scroll.io/bridge
➡️ For bridging tutorials & instructions: Guide: Bridging to Scroll
What is Scroll?
Launched in October 2023, Scroll is an EVM-based ZK-rollup built on Ethereum. Scroll is specifically designed for scaling without sacrificing user experience, whilst including a robust development environment.
The ultimate vision for Scroll is to build a fully EVM-compatible rollup for all existing Ethereum applications to migrate to in a seamless manner.
Bridging to Scroll
Bridging your staked ETH to Scroll is a simple process. The basics are outlined below; for detailed instructions, check out the Scroll bridging guide.
- Visit scroll.io/bridge, go to the deposit tab and connect your wallet.
- Select wstETH and choose the amount to deposit.
- Approve and confirm the transaction.
After approximately 20 minutes, you will be able to view your bridged wstETH on Scroll. As always, keep in mind that you need to wrap your stETH to wstETH prior to bridging.
What’s Next?
Lido’s staked ETH has established itself as a critical component of the Ethereum DeFi ecosystem with a multitude of use-cases. This deployment on Scroll works to multiply that even further.
A wide array of protocols and projects developed on Scroll have shown strong interest for the deployment of wstETH across various use-cases, from collateralisation to lending protocols, DEX pools, vaults, optimizers, indexes, and more. This deployment of wstETH is an important step in feeding another L2 with access to staked ETH, spreading the stability and reward benefits of staked ETH even further.
Keep an eye on the Lido Ecosystem hub for more information on Scroll integrations.
Happy staking 🏝️