Wormhole x Axelar | Lido Bridge: Implementation for wstETH on BNB Chain

Proposals
27

Update and Mainnet Preparation

Wormhole and Axelar are excited to provide an update as we prepare for the mainnet launch of the industry’s first multi-chain solution for wstETH.

Tentative Timeline

  • June 3rd: 2nd Cyfrin audit begins on wstETH token.
    • Testnet deployment of wstETH
    • UI integration and testing with Squid Router and Wormhole Connect begins.
  • June 7th: wstETH token audit concludes.
  • June 10th: 3rd Cyfrin audit begins on Axelar Transceiver.
  • June 14th: Axelar Transceiver audit concludes.
  • June 17th - July 1st: A built in 2-week buffer is allocated to address any findings from audits, but this may not be needed.
  • July 1st: wstETH deployment on BNB Mainnet
    • Wormhole will go live for 2 weeks as per the governance post. wstETH will be available in the Wormhole Connect UI.
    • Axelar added as the second signer two weeks after wstETH mainnet deployment and wstETH available in Squid Router
  • July 18th or July 25th (pending Lido DAO): Lido DAO Snapshot vote to recognize the wstETH on BNB deployment as canonical

BNB chain launch and GTM support

For any BNB chain integrator interested in supporting wstETH on day 1, or if there are any questions around support for general go-to-market, including marketing and comms, please reach out on Telegram to:

  • Ossie Amir (@am_os) from the Wormhole Foundation
  • Jason Ma (@Jason_C_Ma) from the Axelar Foundation

A Note to the Community

Our original post was in late November with an estimated late January launch. The DAO governance process took two months and the vote for Wormhole-Axelar’s multibridge solution ultimately passed on January 24th of this year.

The two month delay resulting from the governance process pushed our estimated launch back. As both Axelar and Wormhole contributors value delivering a thorough and well-tested end solution, additional time was allocated for internal reviews and extra audits to uphold this mission. Today, the Wormhole and Axelar contributors are happy to share that the solution has already undergone 3 audits (Cyfrin, Spearbit Cantina, and an internal audit from Asymmetric Research), with two more on the way.

Thank you to the many community members who contributed by designing, implementing, and reviewing—your tremendous amount of man-hours and invaluable feedback have been instrumental to the upcoming launch.

Now that we’re in the final stretch of the project, we are excited to deliver a multi-chain solution for wstETH in the decentralized and robust manner voted for by the Lido DAO. Expect more updates as we approach the mainnet launch.

9 Likes