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LayerZero Unlocks Cross-Chain wstETH Mobility across Ethereum, Avalanche, BNB Chain, Scroll
Blockchain interoperability protocol LayerZero has introduced a new capability to transfer wrapped staked Ethereum (wstETH) across multiple blockchain networks. This new functionality aims to enhance the portability and accessibility of the popular staked Ethereum derivative token.
Cross-Chain Transfer Now Available
The transfer feature is now live on Ethereum, Avalanche, BNB Chain, and Scroll. By integrating wstETH with LayerZero’s omnichain fungible token (OFT) standard, the protocol can facilitate seamless movement of the asset between different blockchains. This is seen as a significant development for decentralized finance (DeFi), as it allows users to access and utilize wstETH across more chains beyond just Ethereum.
.@LidoFinance’s wstETH is now an OFT available on @BNBCHAIN, @Scroll_ZKP and @avax. 🚀 pic.twitter.com/LV2LjaxXaG
— LayerZero Labs (@LayerZero_Labs) October
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