stETH/wstETH deployment on Soneium

Proposals Lido Multichain
1

Introduction:

The Soneium core team proposes the deployment of stETH and wstETH (wrapped staked ETH) to Soneium, with the ultimate goal of acceptance of ownership of the wstETH bridging components by the Network Expansion Committee.

1. Soneium’s Positioning and Growth Potential:

Soneium is a layer-2 network built on top of the Ethereum blockchain, operated by Sony Block Solutions Labs - a joint venture between Sony Group and Singapore-based web3 development company Startale - to bring Web3 into everyday life. Designed for mainstream use, Soneium enables secure, decentralized applications in finance, gaming, NFTs, and entertainment, accessible through digital wallets, uniquely positioned to leverage Sony Group’s consumer touch points to drive adoption of Web3 and blockchain.

Sony Group believes that the development of a comprehensive Web3 solution based on blockchain technology is very significant for the company, which has developed a wide variety of businesses as part of its purpose to “Fill the world with emotion, through the power of creativity and technology”.

Developed with Optimism’s OP Stack, Soneium is connected to other blockchain networks via Interop Layer of Superchain ecosystem and other interoperability protocols including Chainlink CCIP, LayerZero and Axelar.

Soneium launched just 1 week ago and has accumulated 20M in overall TVL. We hope to bring in new assets like wstETH to build the backbone of Soneium DeFi ecosystem and establish strong liquidity foundation for further real-world use cases and mass adoption of blockchain.

References: Soneium Website | Soneium Defillama

2. Soneium’s DeFi Ecosystem and High Demand for stETH/wstETH:

Soneium launched with a vibrant DeFi ecosystem featuring a well-rounded mix of multichain and native protocols. We are excited to announce that our Soneium Spark program attracted over 1,700 applications, showcasing a wealth of talent and creativity within the DeFi community. Several of these standout projects have already launched as native DeFi protocols on our platform, bringing unique features and services to our users.

Among the notable winners of Soneium Spark in the DeFi vertical are:

  • SONEX (DEX)

  • Kyo Finance (DEX)

  • Untitled Bank (Modular Lending)

  • Sake Finance (Lending and Over-collateralized Stablecoin)

  • waveX (Perpetuals)

  • SuperVol (On-chain Options)

  • Synstation (CDP and Prediction Market)

In addition to our native protocols, we are thrilled to feature several multichain DeFi protocols that will enhance our ecosystem from early stage, including:

  • Velodrome

  • QuickSwap

  • Stargate

  • Squid

  • Solv

  • OpenEden

  • Ionic

  • Avalon Finance

  • and etc.

Together, these projects will create a dynamic environment where users can explore a variety of DeFi services, engage in trading, lending, yield farming, RWA, and more. We are committed to fostering collaboration and innovation in the DeFi space, making Soneium DeFi a backbone for real-world adoption…

Lido is a highly valued and trusted partner within the crypto ecosystem, with wstETH being the most widely adopted ETH LST. We aim to onboard Lido and wstETH to Soneium to introduce ETH staking yield, unlocking new possibilities for Soneium DeFi.

Proposal

This proposal outlines the recognition of stETH/wstETH bridge endpoints on Soneium as canonical.

The contracts has been deployed on Ethereum and Soneium mainnets and verified in block explorers with the below addresses.

On Ethereum

  • (proposed) OpStackTokenRatePusher: 0x927C99fC46226bd5131420B16aF0b0371165C3FC

  • (proposed) L1LidoTokensBridge: 0x2F543A7C9cc80Cc2427c892B96263098d23ee55a (proxy)

  • (proposed) L1LidoTokensBridge: 0xf034dE8BD85A434d9Dc68F03382B589f86791425 (impl)

On Soneium

  • (proposed) WstETH ERC20BridgedPermit: 0xaA9BD8c957D803466FA92504BDd728cC140f8941 (proxy)

  • (proposed) WstETH ERC20BridgedPermit: 0x7591f6BD2301f7EE9267738039054047b5B395B0 (impl)

  • (proposed) StETH ERC20RebasableBridgedPermit: 0x0Ce031AEd457C870D74914eCAA7971dd3176cDAF (proxy)

  • (proposed) StETH ERC20RebasableBridgedPermit: 0x3BC5d0551F48902bDcC036d59F5D23987F581c28 (impl)

  • (proposed) TokenRateOracle: 0xDff6f372e8c16b2b9e95c55bDfe74C0bA3F90265 (proxy)

  • (proposed) TokenRateOracle: 0xA2f12f7C109c0b9aa5FFAe71612a68B6b8B2eFC4 (impl)

  • (proposed) L2ERC20ExtendedTokensBridge: 0xb4a0Cc7bE277DC9F9CBB6fbE8574B6f5221018D8 (proxy)

  • (proposed) L2ERC20ExtendedTokensBridge: 0x3e2DcBe31617577d9CF934A9fb97DdC8FD844fa0 (impl)

  • (proposed) Governance Bridge Executor: 0xB0F7894b3740F68eAca6e3792B14d2C2c25eF5D4

UI

Next steps if there are no objections

  • Launch UI for wstETH on Soneium on the Lido Multichain Page for better DeFi options 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.

Audits

External deployment verification

Conclusion

The recognition of wstETH bridge endpoints as canonical bridging components by the Network Expansion Committee would mark a significant milestone in strengthening the DeFi ecosystem within Soneium and driving further adoption of wstETH. This initiative is backed by Soneium’s steady growth, high potential, and the strong demand for wstETH.

We warmly invite the Lido community to join the discussion and share their feedback as we advance this exciting development.

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2

Hi! MixBytes CTO is here :raised_hands:
MixBytes team, as a part of the GRAPPA initiative, was engaged and verified stETH and wstETH deployment on the Soneium Network. Three security researchers checked the presented information according to the internal checklist. The results are as follows:

  1. The Soneium Network, part of the Superchain Network of Optimism forks, operates like Optimism, previously verified for deployment. The Soneium Network documentation notes potential RPC-level restrictions for addresses violating intellectual property rules or deemed potentially harmful.
  2. The bytecode of the deployed contracts fully matches the audited version. All contracts were deployed from an EOA, eliminating the risk of metamorphic contracts.
  3. All contracts are correctly initialized, protected against reinitialization, and configured with accurate parameters.
  4. All roles are correctly assigned to appropriate addresses, and there are no unknown addresses in the multisig. The multisig addresses on L2 match those on L1.
5 Likes
3

Hey-hey, Eugene M from the Network Expansion Committee is here.

The deployments look in line with the audited codebase, and expected configuration.

Would suggest escalating this proposal to the NEC for consideration next week.

2 Likes