NEC-4: Recognition of wstETH Bridge Endpoints on Lisk as Canonical

[nikita.p]

Background

The Network Expansion Committee (NEC) was established and approved by LDO holders to streamline expanding (w)stETH to new networks while ensuring security and transparency.

All NEC decisions will be put on hold for 5 days after the forum post is published. If no objection is received during this period, the decision will stand. If an objection is received within this period, the NEC decision will be disregarded, and a regular snapshot vote will be held.

To object, anyone can sign an objection message (on Etherscan or any other tool allowing to sign messages on behalf of address holding LDOs) and post the signing address, message, and signature hash as a reply to the forum post. The objection will be considered received if and only if the sum of LDO tokens held at the unique addresses used to sign the objection messages is greater than 100k LDO on the block corresponding to the NEC decision posting.

Proposal

This proposal outlines the recognition of wstETH bridge endpoints on Lisk as canonical and presents the rationale behind this decision by NEC.

The initial proposal for wstETH on Lisk

Temperature Check | wstETH Deployment to Lisk and Ownership Acceptance by Lido NEC

Introduction The Lisk team proposes to deploy Lido wstETH ERC20 token and relative bridging contracts on the Lisk L2. The deployment would be done according to the guidelines given in GitHub - lidofinance/lido-l2 for Optimism and following other related proposals for other L2s built on the Op stack. If this temperature check is successful, after the testnet deployment, an official governance proposal will be created to move administrative rights over the bridge to the Lido DAO. Lisk’s mission a…

Reasons for the decision

• Strategic alignment with Lisk’s mission to empower Web3 builders in emerging markets complements Lido DAO’s goal to expand staking opportunities
• Lido DAO will have access to Lisk’s emerging-market user base
• Deploying wstETH on Lisk aligns with the GOOSE 2024 cycle: Lido DAO goals for 2025 making stETH the most used token in the Ethereum Ecosystem

Benefits for Lido stakers

• Lisk’s ecosystem offers new pools, lending, and other DeFi options
• Lisk’s L2 design reduces transaction fees for stakers
• Swap-and-bridge tools will make multi-chain participation easier for stakers
• Paying gas fees with wstETH will simplify DeFi participation within Lisk

Mainnet deployment contracts

• Mainnet | Lido Docs

Audit reports

• Governance crosschain bridges: https://github.com/lidofinance/audits/blob/main/L2/Governance-Crosschain-Bridges-2022-08-Oxorio-Audit Report.pdf

• wstETH token bridge: audits/L2/Lido-L2-2022-07-Oxorio-Smart-Contracts-Security-Audit-Report.pdf at main · lidofinance/audits · GitHub

Third-party deployment verification

MixBytes via GRAPPA initiative verification is done.

QA test results for bridge

The bridge functionality at SuperBridge has been successfully tested for wstETH.

Next steps if there are no objections

• Launch UI for wstETH on Lisk on the Lido Multichain Page for better accessibility and improved user experience
• Launch support materials such as a bridging help guide
• Announcements via Blog posts, Twitter, Discord, and Telegram for community engagement

• Approve
• Reject

[Mariya_Muzyko]

Since the process has been completed without any objections and all NEC members have approved the recognition, the following steps were taken:

• Launched UI for wstETH on Lisk via Lido Multichain Page
• Published a bridging help guide: Bridging to Lisk.
• Announced the launch across multiple channels, including:
  • Lido Blog
  • Discord
  • Twitter (X)
  • Telegram