Thank you to the DAO for the thoughtful engagement here. We are happy to see the robust dialogue and encourage dedication of ample time and resources to broader discussion within the DAO around wstETH on L2s.
We respect and acknowledge the DAO’s immediate desire to use canonical bridges for L2s. Further, we strongly agree with the DAO that if the protocol or users are indifferent to the benefits of horizontal composability then the best way to move assets onto L2s is through native bridges.
When we constructed the initiative to deploy wstETH with horizontal composability, each network was included only upon the explicit desire and opt-in of their respective core teams. Based on the current feedback, we recognize the preferences of the DAO regarding native bridges and L2s and have, in coordination with Scroll, requested that the Stargate Foundation removes the bridging of wstETH into Scroll.
Per the original forum post above, we request that the Lido DAO claim ownership of the contracts on BNB and Avalanche; the Lido DAO has entire control over the native token once ownership is accepted, including minting limits and additional security configurations. Once accepted, LayerZero Labs maintains no ability to mint or burn tokens, by design. The implementation follows the specifications which were utilized in the expansion of wstETH to Neutron, as advised by the Lido core team.
We have been engaging with the Lido Core team, community members, and independent security teams for several months now on this specific permissionless deployment and made adjustments to the approach based on their feedback. We hope there is further engagement by Lido contributors to discuss the technical specification further and to cover any concerns or inaccuracies present in the forum. As always, we are eager to support the growth of cross-chain LSTs at-large in alignment with protocol builders.
Note: The original post has been updated to reflect the changes made based on robust engagement with the DAO.