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Lido to Deploy Chainlink CCIP for Wrapped Staked ETH Across 16 Chains

According to Lido, Chainlink’s Cross-Chain Interoperability Protocol will be adopted for wstETH transfers, beginning with Plasma, Monad, Ink, and 0G before expanding to 16 chains.

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Summary

In an official announcement, Lido stated it will integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the infrastructure for wrapped staked ETH (wstETH) transfers. The phased rollout will ultimately cover 16 blockchains, starting with early adoption on Plasma, Monad, Ink, and 0G. The initiative is aimed at enabling secure and reliable cross-chain wstETH transfers, with deployment scheduled in progressive stages to ensure stable adoption.

Terms & Concepts
  • Cross-Chain Interoperability Protocol (CCIP): A Chainlink-developed system enabling secure token transfers and data communication across multiple blockchain networks.
  • wrapped staked ETH (wstETH): A token representing staked Ether from Lido, packaged for compatibility across different decentralized applications.
  • staking: The process of locking cryptocurrency to earn network rewards or secure blockchain operations.