The Lido Finance community voted to expand its services to the BNB Chain. This strategic move, finalized on August 9 through an on-chain vote by the Lido decentralized autonomous organization (DAO), represents Lido’s first venture beyond the Ethereum ecosystem.
Lido’s Staking Model
One of the key advantages of Lido’s liquid staking model is its ability to allow asset mobility while earning staking rewards. Unlike traditional staking models that require assets to be locked up, Lido’s model provides stETH tokens in return for staked ETH, which accrue interest and remain tradable. This functionality, now extended to the BNB Chain, is expected to further enrich Lido’s offering and enhance its appeal in the competitive DeFi landscape.
Introducing Lido Institutional: Catering to Large Investors
In addition to its expansion to the BNB Chain, Lido Finance has recently launched Lido Institutional, a new liquid staking solution aimed at meeting the needs of large institutional clients such as custodians, asset managers, and exchanges. This middleware platform is designed to combine the reliability and security necessary for enterprise-level staking with the liquidity and utility required by sophisticated institutional strategies. The launch of Lido Institutional comes after months of preparation and strategic collaborations with infrastructure providers such as Taurus and Fireblocks, the latter of which was announced during the EthCC event in July.
The integration of Lido’s stETH with the BNB Chain will be facilitated by Axelar and Wormhole, two of the most trusted bridging solutions in the blockchain space. These solutions will ensure a secure and efficient transfer of assets between the two ecosystems.
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