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Lido Expands its Liquidity Pledge Agreement to Polygon

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On March 10, Lido, the liquidity pledge agreement, announced that wstETH had been deployed on Polygon. This is the third step of the expansion plan of \”Lido on

Lido Expands its Liquidity Pledge Agreement to Polygon

On March 10, Lido, the liquidity pledge agreement, announced that wstETH had been deployed on Polygon. This is the third step of the expansion plan of “Lido on L2”. Polygon has become the third Layer2 network supporting Lido Ethereum’s liquid mortgage derivatives after Arbitrum and Optimism.

Lido has deployed wstETH on Polygon

Analysis based on this information:


Lido, a liquidity pledge agreement, has announced that it has deployed WstETH on Polygon. WstETH is a wrapped version of Ethereum that can be used in the Lido protocol. This deployment is the third step in Lido’s expansion plan on L2, following Arbitrum and Optimism. With Polygon becoming the third network supporting Lido Ethereum’s liquid mortgage derivatives, Lido is expanding its presence across multiple blockchain networks, demonstrating its commitment to offer more liquidity options to users.

Lido is a DeFi solution that allows users to stake their Ethereum in a decentralized manner, while providing liquidity for those looking to trade tokens. Lido creates a liquid market for staked Ethereum, known as stETH, by providing a wrapped version each time someone stakes their Ethereum. This wrapped version can be easily traded on decentralized exchanges, allowing users to earn rewards without the need for locking up their capital.

By expanding to Polygon, Lido is providing its users with more opportunities to earn stETH and access other liquidity options. By using Polygon, Lido is seeking to create a faster and more affordable experience for its users, especially during times of high network congestion. In addition, expanding to Polygon helps to improve the security of the protocol by allowing for greater decentralization across multiple Layer2 networks.

Furthermore, deploying WstETH on Polygon could increase its liquidity and open up new market opportunities for Polygon users. WstETH has already seen increased demand on other Layer2 networks, such as Arbitrum and Optimism, giving Polygon users access to more liquidity options.

In conclusion, Lido expanding its liquidity pledge agreement to Polygon is a significant move for the DeFi protocol. By deploying WstETH on Polygon, Lido is expanding its presence across 3 Layer2 networks, creating more options for its users. This not only enhances the user experience but also improves the overall security and decentralization of the protocol.

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