Liquid staking has become increasingly popular, with the Lido protocol leading in Total Value Locked (TVL). Lido offers staked Ether (stETH) to users who choose to stake their Ethereum (ETH) tokens through their platform, allowing them to enjoy the advantages of staking without the need for a locking period.
Nevertheless, it's worth noting that stETH tokens may not be compatible with all blockchain networks.
Lido Brings wstETH to BNB Chain
In a press release disclosed to BeInCrypto, LayerZero, a bridging infrastructure protocol, has announced its plans to facilitate the integration of the wrapped version of staked Ethereum, known as wstETH, with the BNB chain. This development will enable the community to utilize the token within the native DeFi protocols on the BNB chain.
As of October 24, a screenshot indicates that the BNB chain recorded more than one million daily active addresses.
Moreover, DeFi projects operating on the BNB chain now have the opportunity to incorporate wstETH into their offerings.
Although the BNB chain has embraced Lido's wstETH tokens, its users encountered a setback back in August. On August 19, BeInCrypto reported that OpenSea, a non-fungible token (NFT) marketplace, discontinued its support for NFT transactions on the BNB chain.
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