Introduction
The Starknet Foundation is excited to introduce a proposal to re-endorse the wstETH bridge endpoints as canonical by the Lido DAO.
For context into the prior proposal that was passed, please view here; and for further context into the asset’s offboarding, please view here. For clarity, this issue occurred after the passing of the proposal and posed zero risk to holders.
Following the previous wstETH offboarding, the Starknet Foundation proceeded with an asset migration from wstETH(legacy) to the new wstETH following the recommended guidline.
That migration is now complete.
Upon the passing of this proposal, the governance roles for wstETH will be transferred to the Lido DAO.
wstETH Metrics
The wstETH migration process began on 3 February through the migration hub.
There is now ~3900 cumulative wstETH (new and old) on Starknet, with ~93% of all wstETH on Starknet being the new token. Migrations of legacy wstETH continue to take place.
These metrics can be verified in real-time: new wstETH and legacy wstETH.
wstETH rewards on Starknet are significantly above-average because of STRK incentives through the network’s current DeFi Spring program. As such, we expect TVL to continue to increase, and we believe that it is in the interest of both Starknet and the Lido DAO for this TVL to be recognized as canonical.
Up-To-Date Audits
- StarkGate 2.0 bridge and L2 ERC20 - Oct 2024: StarkGate - Zellic Audit Report - Oct 2024
- StarkGate 2.0 bridge and L2 ERC20 - Oct 2023: StarkGate - Zellic Audit Report - Oct 2023
- Lido - Starknet governance forwarder: QuillAudit_Reports/Lido Starknet Governance Forwarder Audit Report - QuillAudits .pdf at master · Quillhash/QuillAudit_Reports · GitHub
Mainnet Contracts - StarkGate 2.0
- L1 wstETH token address: “0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0”,
- L1 bridge address: “0xBf67F59D2988A46FBFF7ed79A621778a3Cd3985B”,
- L2 bridge address: “0x0088eedbe2fe3918b69ccb411713b7fa72079d4eddf291103ccbe41e78a9615c”,
- L2 wstETH token address: “0x0057912720381af14b0e5c87aa4718ed5e527eab60b3801ebf702ab09139e38b”,
- L2 legacy wstETH token address: “0x042b8f0484674ca266ac5d08e4ac6a3fe65bd3129795def2dca5c34ecc5f96d2”,
- Lido - Starknet governance forwarder: “0x7ba4bb6a9ec398598c9c08424af6bdb83f56e78ffc8f07f0da0dfae8deca432”
Testnet (Sepolia) Contracts - StarkGate 2.0
- L1 wstETH token address: “0xB82381A3fBD3FaFA77B3a7bE693342618240067b”,
- L1 bridge address: “0xaCbb1B9021eC68370B9821d5F36ddE26796bb436”,
- L2 bridge address: “0x0172393a285eeac98ea136a4be473986a58ddd0beaf158517bc32166d0328824”,
- L2 wstETH token address:
- L2 legacy wstETH token address: “0x030de54c07e57818ae4a1210f2a3018a0b9521b8f8ae5206605684741650ac25”,
- Lido - Starknet governance forwarder: “0x07d52ac5647e26ec8e356ae5a15900e92e2e7e52ddd3cbaf8f15300906c4a89a”
Source code and Documentation
- Source code repo for StarkGate 2.0 (Live on Mainnet).
- Source code repo for the Lido - Starknet governance forwarder.
- StarkGate Documentation.
Recommendation
With the prior proposal already having been passed initially, we believe it is practical to recognize the wstETH bridge endpoints as canonical by the Lido DAO.
We invite the Lido community to engage in discussions and provide feedback.