I’ve been working on a blog post for Lido’s wstETH. Stuff like:
-What is it?
-Why do we have wstETH?
-What can you do with wstETH?
The question I am stumped on is:
What is the future of wstETH?
I believe the Lido community does not have a unified vision for wstETH and wanted to start this thread so people can share their thoughts and opinions on the matter.
The questions I have are:
-Does wstETH become bigger than stETH due to issues integrating stETH with Uniswap, L2’s launching this year?
-If we don’t promote wstETH will Lido adoption stall due to integration issues with stETH?
-Should we make wstETH the default token when users deposit ETH into Lido?
-If it does become bigger, should Lido devote resources to abstract wstETH away from users so they only hold stETH?
-If we do make wstETH the default token, should we rebrand the name? Because wstETH seems suboptimal from a branding perspective.
I think a lot of these questions are easy to answer as long as the Lido community agrees on a plan of action. Right now most DeFi users are power users that don’t mind the complexity of wrapped assets but with L2’s launching in the next 12 months this could become a user experience headache.
Anyway, let me know what you guys think. Cheers!