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As the decentralized finance (DeFi) landscape expands, so does its potential for fostering innovative collaborations. Today, we're excited to announce one such partnership that promises to elevate the DeFi ecosystem: bringing Lido to the Linea network. Before diving into the particulars of this strategic integration, it is crucial to understand what Linea and Lido bring to the formidable DeFi table. Linea, the fastest-growing zkEVM network today, aims to enhance the Ethereum network's capabilities, offering scalability, decreased transaction costs, and an increased overall on-chain capacity. Its focus on decentralized applications (dapps) positions it as an important facilitator of Ethereum’s journey to a planet-scale infrastructure. On the other hand, Lido, the largest liquid staking provider, brings a fresh rationale to the Ethereum staking process. By tokenizing staked assets, Lido ensures uninterrupted liquidity for users - seamlessly blending the security of staking with the flexibility of DeFi. Currently, Lido’s staked ETH (stETH) represents 31.94% of all staked ETH in the market. Lido’s integration with Linea brings two DeFi trailblazers together. As part of the integration, the wrapped stETH (wstETH) on Linea will be made native on Lido. A Deeper Dive into the Lido x Linea Integration The Lido X Linea partnership seeks to augment the three core features of DeFi - scalability, liquidity, and security. Linea's scalability solutions, alongside Lido's liquid staking model, drastically expand the possibilities for the Ethereum network - from executing more transactions at a reduced cost to the seamless incorporation of staked assets in the DeFi ecosystem. So far, wstETH on Linea was bridged as a wrapped token. With Lido’s integration with Linea, the bridged wstETH will be migrated into a native wstETH. This native wstETH will be fully controlled and managed by the Lido Foundation as approved by their DAO governance process. At its fundamental level, the integration enhances liquidity by ensuring that users can stake ETH through Lido, wrap the stETH into wstETH, and bridge these tokens to use them within the Linea ecosystem. This empowers stETH holders with expanded DeFi opportunities, such as liquidity provisioning on DEXs or as collateral to borrow stable coins leading to an increased array of yield-generating opportunities. Users can seamlessly stake on Lido on Ethereum Mainnet, bridge wstETH to Linea, everything from within Metamask, and actively participate in DeFi activities using Linea dapps, fostering a more enriched and unified user experience. In addition, having native wstETH on Linea removes the additional layer of risks introduced by bridge wrapping. This partnership improves the Linea DeFi ecosystem while optimizing users' investment opportunities in DeFi. The integration also allows us to deepen our operational synergies with one of our other partners, MetaMask, which already counts Lido as a trusted partner for its staking offering via MetaMask Portfolio. Conclusion The integration with Lido bodes well for Linea users and the broader Linea network. It paves the way for simplified and secure interaction with web3 for users and widens the utility of the ecosystem. The addition of Lido further amplifies Linea's dapp community, echoing Linea's commitment to supporting the core Ethereum values of scalability and decentralization. Start your DeFi journey with Linea and Lido! Bridge your stETH to Linea from within MetaMask