KEY ($0.00) TAKEAWAYS
- Lido’s wrapped staked Ether (wstETH) is now available on Lisk, enhancing its accessibility on Ethereum Layer 2.
- Lisk utilizes Optimism’s OP Stack and Gelato’s Rollup-as-a-Service to improve transaction speed and cost efficiency while maintaining security.
- Lisk supports Web3 developers with strategic partnerships and resources in emerging markets like Africa and Southeast Asia.
- The Superbridge app facilitates easy transfer of wstETH between Ethereum and Lisk, with a standard security delay for transactions back to Ethereum.
The Lido protocol’s wrapped staked Ether (wstETH) is now accessible on Lisk, an Ethereum Layer 2 blockchain. Lisk is focused on empowering Web3 builders with real-world use cases, particularly in emerging markets. This development was announced here.
Lisk leverages Optimism’s OP Stack and Gelato’s Rollup-as-a-Service to deliver significant improvements in transaction speed and cost efficiency. These enhancements are achieved while maintaining Ethereum’s robust security foundation.
How Lisk Supports Web3 Builders
Lisk is an EVM-compatible Layer 2 rollup built using Optimism’s OP Stack. Originally a Layer 1 blockchain, Lisk transitioned to become an Ethereum Layer 2 solution in collaboration with Gelato as a Rollup-as-a-Service provider.
The network is purpose-built to power real-world blockchain applications. Lisk aims to provide Web3 developers with an attractive ecosystem for developing solutions in high-growth markets. Strategic partnerships have been established across Africa and Southeast Asia, where Lisk supports Web3 startups through incubation programs, developer platforms, mentorship, and grant funding.
Bridging wstETH to Lisk
The Superbridge app offers a user-friendly interface for OP Stack Chains, facilitating the transfer of wstETH between Ethereum and Lisk. Users must ensure their wallet contains wstETH before initiating the bridging process.
The bridging process typically takes only a few minutes, with transaction status trackable on both Etherscan and Lisk Explorer. However, bridging back from Lisk to Ethereum may take up to seven days. This delay is a standard security feature of the OP Stack, serving as a challenge period before the transaction is finalized.
Why This Matters: Impact, Industry Trends & Expert Insights
The integration of Lido’s wrapped staked Ether (wstETH) on Lisk, an Ethereum Layer 2 blockchain, marks a significant development in enhancing Web3 capabilities and expanding the ecosystem for developers.
Recent industry reports indicate that scalability solutions like Layer-2 and rollups are crucial for addressing the infrastructure needs of growing Web3 applications. This aligns with Lisk’s use of Optimism’s OP Stack and Gelato’s Rollup-as-a-Service to improve transaction speed and cost efficiency.
As per insights from a Glassnode report, Ethereum Layer 2 adoption continues to gain momentum, driven by the need for scalability and reduced transaction costs. This supports the significance of Lido’s wstETH availability on Lisk, as it leverages these advancements to attract Web3 developers and enhance blockchain applications.
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