Lido DAO, an organization managing a decentralized autonomous community, recently selected a team to create a cross-chain bridge. This decision came after criticism of LayerZero, a company that previously launched a bridge for transferring the stETH token between various networks without Lido DAO's official approval. This action caused dissatisfaction in the community, with accusations that LayerZero was trying to present itself as an official partner of Lido without the DAO's consent.
During the voting held from January 17 to 24 on the Snapshot platform, members of the Lido DAO community chose the Axelar and Wormhole teams to develop a bridge that will be used to transfer wstETH assets to the BNB Chain. These teams decided to collaborate and prepare a joint proposal, combining the advantages of both networks to ensure high security in the transfer of wstETH between chains.
Sergey Gorbunov, CEO of Axelar developer Interop Labs, emphasized the importance of this collaboration for ensuring security in the asset transfer process. It is also worth noting that in December 2023, the LayerZero Labs team announced the release of its own token and an airdrop in the first half of 2024. This event highlights the active development and interaction of various projects in the blockchain and cryptocurrency sphere.
