Introduction
Zircuit proposes the deployment of wstETH (Wrapped liquid staked Ether 2.0) onto Zircuit L2, with the ultimate goal of acceptance of ownership of the wstETH bridging components by the Lido DAO.
About Zircuit
Zircuit is an Ethereum Virtual Machine (EVM)-compatible Zero-Knowledge Layer 2 rollup launching on the Ethereum network. Apart from offering much lower network fees and higher transaction throughput than Ethereum mainnet, Zircuit’s main focus is security. Zircuit prevents malicious transactions and hacks by utilizing its novel AI-enabled feature: Sequencer Level Security (SLS). We envision Zircuit as a central hub for restaked assets that features unparalleled security and allows users to earn industry-leading yields natively.
wstETH Demand
Zircuit is working with a multitude of DeFi projects to build a robust and secure ecosystem. Zircuit has not yet migrated funds from the Ethereum Mainnet onto Zircuit L2, but currently (September 2024), there is $1.8B in the Zircuit staking contract (see DefiLlama), of which about $120M is in wstETH. This number alone suggests that wstETH will play a key role in the Zircuit L2 ecosystem.
Canonical Bridge for wstETH
We propose to bridge wstETH onto Zircuit through the canonical bridge. We have used the contracts and scripts from the original Optimism deployment lido-l2, since Zircuit is fully compatible with Optimism Bedrock contracts. Furthermore, we also deployed the Optimism’s Bridge Executor from governance-crosschain-bridges, which enables Lido DAO to manage the bridge and the token on L2. Thus, we propose that the Lido DAO formally accepts ownership of the wstETH bridging components via a signaling snapshot vote.
Audits
- wstETH Token Bridge: audits/L2/Lido-L2-2022-07-Oxorio-Smart-Contracts-Security-Audit-Report.pdf
- Governance Crosschain Bridges: audits/L2/Governance-Crosschain-Bridges-2022-08-Oxorio-Audit Report.pdf
- wstETH Deployment on Zircuit:
Zircuit / Lido / NEW Proposal
Links
Deployment and Levers Setup
Testnet
Bridge UI: https://bridge.testnet.zircuit.com/
Explorer: https://explorer.testnet.zircuit.com/
Contracts
Ethereum Sepolia
- L1ERC20TokenBridge
- Implementation: 0x0b72F930bb0e378b19E93eBadf1c563D28A584ed
- OssifiableProxy: 0x130424c81a7d497Efa53bc71BB8B718202087726
Zircuit Testnet
- ERC20Bridged
- Implementation: 0x549aF13787A46eF63341c8C7e78691F4a2bFbE48
- OssifiableProxy: 0x6b8116B41bFd7e1A976cB892acB79926080A6Ca1
- L2ERC20TokenBridge
- Implementation: 0x247f56cFc9021aeC161a4366412636ea33101D2B
- OssifiableProxy: 0x7721F53d153Ae3CF937605fF1Bbb7D51B14E7902
- OptimismBridgeExecutor: 0x989CD486c02bfBe5c2D3C157cDCab099134e7697
Levers Setup
- OptimismBridgeExecutor
- getEthereumGovernanceExecutor(): Lido DAO Agent: 0x32A0E5828B62AAb932362a4816ae03b860b65e83
- Ultimate admin and role holder on L1 is the Lido DAO Agent: 0x32A0E5828B62AAb932362a4816ae03b860b65e83
- Proxy admin for L1ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L1ERC20TokenBridge
- Ultimate admin and role holder on L2 is the OptimismBridgeExecutor: 0x989CD486c02bfBe5c2D3C157cDCab099134e7697
- Proxies admin for ERC20Bridged, L2ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L2ERC20TokenBridge
- Lido Emergency brakes multisig on L1: 0xa5F1d7D49F581136Cf6e58B32cBE9a2039C48bA1
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- Lido Emergency brakes multisig (placeholder) on L2: 0xa5F1d7D49F581136Cf6e58B32cBE9a2039C48bA1
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge
Mainnet
Bridge UI: https://bridge.zircuit.com/
Explorer: https://explorer.zircuit.com/
Contracts
Ethereum
- L1ERC20TokenBridge
- Implementation: 0x6bc726C993103197C41d787dd72eCd4D2e1614E8
- OssifiableProxy: 0x912C7271a6A3622dfb8B218eb46a6122aB046C79
Zircuit
- ERC20Bridged
- Implementation: 0x929569e10d9166f31c8284fE3FE5db1C1E56D6b4
- OssifiableProxy: 0xf0e673Bc224A8Ca3ff67a61605814666b1234833
- L2ERC20TokenBridge
- Implementation: 0x224F00AEDD7A9F10e571898662ad19CD5abd9F2c
- OssifiableProxy: 0xF4DC271cA48446a5d2b97Ff41D39918DF8A4Eb0e
- OptimismBridgeExecutor: 0x6Bf2cac3ed2481da30aD36Cd3D64325c31065Cc5
Levers Setup
- OptimismBridgeExecutor
- getEthereumGovernanceExecutor(): Lido DAO Agent: 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c
- Ultimate admin and role holder on L1 is the Lido DAO Agent: 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c
- Proxy admin for L1ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L1ERC20TokenBridge
- Ultimate admin and role holder on L2 is the OptimismBridgeExecutor: 0x6Bf2cac3ed2481da30aD36Cd3D64325c31065Cc5
- Proxies admin for ERC20Bridged, L2ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L2ERC20TokenBridge
- Lido Emergency brakes multisig on L1: 0x73b047fe6337183A454c5217241D780a932777bD
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- Lido Emergency brakes multisig on L2: 0x9Bff79BF7226cB5C16d0Cca9c1dc60450feE560d
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge