Lido Finance team updates plan to integrate Arbitrum and Optimism L2 solutions

The developers at Lido Finance updated the plan to integrate second-layer solutions. The first step toward its implementation was to add support for Arbitrum and Optimism protocols.

An update on Lido’s L2 plans 🏝️https://t.co/rvMSbsyWX2 pic.twitter.com/nfby4S63Ba

— Lido (@LidoFinance) August 16, 2022

A goal at Lido is to create a collection of highly liquid staking assets with widespread applications across DeFi.

L2s represent a clear path to achieving this at scale.

While direct ETH staking from L2s is the goal, it all starts with seamless L2 token bridging.

— Lido (@LidoFinance) August 16, 2022

“The goal of Lido is to create a collection of highly liquid staking assets with broad applications in DeFi. L2 solutions represent a clear path to achieving this ambitious goal. While the ultimate task is direct ETH staking from L2, it all begins with seamless token bridging,” the statement said.

The team’s ‘bridge’ contracts for Optimism and Arbitrum have already passed an external audit.

Lido Finance — the largest service for highly liquid staking of cryptocurrencies. The protocol allows depositing coins into the relevant contract and receiving in exchange a bundle of ‘derivative’ tokens that can be used in DeFi services.

Arbitrum and Optimism are the most popular layer-2 solutions, according to L2BEAT. As of writing, their TVL metrics stand at $2.91 billion and $1.84 billion respectively. TVL.

In July, the Lido Finance team announced the launch of a liquid ETH 2.0 staking service on L2 networks.

That same period, the platform integrated with Aztec and Argent. The former is a privacy-focused layer-2 network using ZK-Rollups, the latter is a wallet provider that employs Matter Labs’ zkSync solution.

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