wstETH Collateral Support on Base

Projects
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QiDao update on wstETH support

Our community is very happy to see the following proposal to initiate official bridging for wstETH on Base: Snapshot

QiDao has already approved wstETH as collateral and will be one of the first lending integrations (if not the first) of wstETH on Base.

If there is to be a stablepool on Curve for wstETH-ETH, QiDao could also add that as collateral. This has been very successful before, such as on Optimism.

MAI on Base

  • MAI’s peg on Base is impeccable, with DEX integrations on Aerodrome, Scale, and Baseswap
  • MAI is completely isolated on Base, as if it was a separate protocol on that chain.
  • Borrowing MAI with cbETH has been very successful, with $3M locked without borrow incentives. We anticipate a similar demand for wstETH

Support for wstETH on other L2s

Our community is eagerly awaiting wstETH bridge support on zkEVM, Mantle, Linea, and Scroll. The sooner the better!

Additional resources

MAI’s isolation methodology: Chain Risk - Mai Finance

MAI’s peg on Base: https://dexscreener.com/base/0xf6aec4f97623e691a9426a69baf5501509fca05d

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It is great to see projects like QiDao on Base welcoming wstETH even before the formal acceptance.
Can’t expect a better proof that there is a demand for it and that Base ecosystem will provide a good utility to the wstETH holders.
QiDao platform already supports wstETH and stMATIC on other supported networks, and it makes a lot of sense to continue the support on other “soon to be accepted” networks.

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