{"id":84522,"date":"2023-09-14T16:59:02","date_gmt":"2023-09-14T13:59:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84522"},"modified":"2025-09-12T17:52:30","modified_gmt":"2025-09-12T14:52:30","slug":"lido-to-launch-wrapped-steth-in-the-cosmos-ecosystem","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lido-to-launch-wrapped-steth-in-the-cosmos-ecosystem\/","title":{"rendered":"Lido to launch wrapped stETH in the Cosmos ecosystem"},"content":{"rendered":"<p>The Lido Finance liquid staking service will launch <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-wrapped-token\">wrapped<\/a> token stETH (wstETH) on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cosmos-atom\">Cosmos<\/a> blockchain with support from cross-chain platform Neutron and Axelar&#8217;s interoperability protocol.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/LidoFinance?ref_src=twsrc%5Etfw\">@LidoFinance<\/a> is the leading liquid-staking provider, with $13B+ in liquid staked <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>. It\u2019s taken the leading Web3 asset to other chains in the Ethereum ecosystem, bridging it to EVM L2s. Now, stETH is using Axelar to go beyond ?\u200d? ? ? ? ? <a href=\"https:\/\/t.co\/M7DCNMKY0H\">pic.twitter.com\/M7DCNMKY0H<\/a><\/p>\n<p>\u2014 Axelar Network (@axelarcore) <a href=\"https:\/\/twitter.com\/axelarcore\/status\/1702309307369615660?ref_src=twsrc%5Etfw\">September 14, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As soon as wstETH is deployed on Cosmos and cross-chain governance is established, partners will transfer full control of the asset to the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">decentralized autonomous organization<\/a> of Lido.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c<a href=\"https:\/\/forklog.com\/en\/news\/what-are-cross-chain-bridges\">Cross-chain<\/a> expansion of the largest liquid staking token is enabled by Axelar and enhanced by full compatibility,\u201d noted Axelar co-founder Sergey Gorbunov. <\/p>\n<\/blockquote>\n<p>More than 30 Cosmos teams have expressed interest in integrating wstETH. In addition, Neutron and Axelar allocated 1% of their portfolios in the form of tokens to support liquidity for the new wrapped token.<\/p>\n<p>According to the Dune dashboard, Lido accounts for about 32% of the Ethereum staking market. In total, 832,222 validators are actively on the platform. <\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-09-14-v-16.34.51.webp\" alt=\"Snimok-ekrana-2023-09-14-v-16.34.51\" class=\"wp-image-215900\"\/><figcaption class=\"wp-element-caption\">Market shares of various platforms in the Ethereum staking segment. Data: Dune.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/defillama.com\/protocol\/lido\">DeFi Llama<\/a>, the total value locked in the protocol is $14.1 billion.<\/p>\n<p>Earlier, Glassnode <a href=\"https:\/\/forklog.com\/en\/news\/glassnode-lido-led-ethereum-staking-gains-traction-after-shanghai-upgrade\">reported<\/a> that after the activation of <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-activates-shapella-hard-fork-on-mainnet\">the Shanghai upgrade<\/a> on the Ethereum network there was an uptick in coin inflows into liquid staking protocols led by Lido Finance.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Lido Finance liquid staking service will launch wrapped stETH (wstETH) on the Cosmos blockchain with support from cross-chain platform Neutron and Axelar&#8217;s interoperability protocol.<\/p>\n","protected":false},"author":1,"featured_media":84523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Lido plans to launch a wrapped stETH on Cosmos with Neutron and Axelar support.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1173,1289,1387],"class_list":["post-84522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cosmos-atom","tag-cryptocurrency-staking","tag-lido"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"Lido plans to launch a wrapped stETH on Cosmos with Neutron and Axelar support.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84522"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84522\/revisions"}],"predecessor-version":[{"id":84524,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84522\/revisions\/84524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84523"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}