Lido on Starknet
wstETH is now available on Starknet
wstETH is live on Starknet, allowing users to bridge their staked ETH and use it within the Starknet ecosystem.
This deployment marks a significant step in Lido protocol's multichain use cases, promoting broader adoption of wstETH across various Layer 2 networks.
➡️ Bridge your wstETH to Starknet using StarkGate: starkgate.starknet.io
➡️ For tutorials & instructions: Guide: Bridging to Starknet
What is Starknet?
Starknet is a ZK-Rollup that operates as a Layer 2 network over Ethereum. Using STARK proof technology, Starknet processes transactions with reduced costs while maintaining Ethereum's security properties. As a validity rollup, it processes transactions off-chain and posts validity proofs to Ethereum, ensuring state transitions are computationally verified.
For more information on Starknet, visit starknet.io.
Bridging to Starknet
Before using StarkGate bridge to transfer wstETH to Starknet, ensure you have:
- A Starknet-compatible wallet (Argent X, Braavos).
- ETH for gas fees on both networks.
- wstETH tokens to bridge.
To bridge your wstETH:
- Visit starkgate.starknet.io.
- Connect both your Ethereum and Starknet wallets.
- Select wstETH from the token dropdown.
- Enter the amount you wish to bridge.
- Approve the transaction and wait for confirmation.
You can track your transaction status on both Etherscan and Starkscan.
Why wstETH on Starknet
Deploying wstETH on Starknet provides:
- Access to Starknet DeFi Ecosystem: wstETH can now be utilized in various third-party DeFi protocols on Starknet, expanding its utility.
- Enhanced Scalability: Users can transact with lower fees and faster confirmation times compared to the Ethereum mainnet.
Network Recognition
The availability of wstETH on Starknet has been recognized by the Network Expansion Committee (NEC), which was recently established through Snapshot vote to evaluate and recognize stETH and wstETH protocol bridging endpoints and token denominations on new networks on behalf of the LDO token holders. This recognition aligns with NEC's mandate to streamline the process for expanding (w)stETH to new networks.
Explore stETH on L2 Networks
Explore Starknet and other supported networks in the Lido Multichain hub, where you can find technical specifications, protocol integrations, and network-specific guides: lido.fi/lido-multichain.
In the future, expect stETH to be available across a number of new L2s to further enhance the utility of stETH.