Lido $wstETH Token on Mantle Network

08/10/232 min read

Mantleby Mantle

Ecosystem

Governance

Lido $wstETH Token on Mantle Network

Details

  • Due to the passage of MIP-25, we have been working closely with Lido for new initiatives on Mantle Network
  • The old version of $wstETH is a generic format Mantle Standard Bridge ERC-20 token
  • The new version of $wstETH will contain Upgradability (OZ OssifiableProxy) with the upgrade role being the Mantle Security Council and a future transfer to Lido DAO. This $wstETH token functionality is common among other L2s such as Arbitrum and Optimism

Summary

  • A new version of Lido $wstETH will be deployed on Mantle Network in the coming days
  • The old version of $wstETH will be exchangeable for the new token
  • There are approximately 1.5 units of old-$wstETH currently deposited on Mantle Network, and we have disabled new bridge deposits

Going Forward

  • For Users

No actions are required for now, we will work with applications to provide convenient and free channels for you to convert your old $wstETH to the new $wstETH.

  • For Applications

Mantle BD team members will reach out to assist in deploying new $wstET-based pools.

 
If you have any questions, please reach out on the Mantle Discord.

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