Lido DAO Endorses Competing Bridges from Wormhole and Axelar for stETH Transfers, Rejects LayerZero's Proposal

The decentralized autonomous organization behind the Lido liquid staking protocol has chosen to endorse bridges from Wormhole and Axelar for transferring stETH tokens, after a poll showed that 81% of voters supported the rival proposal. This decision comes after LayerZero launched a bridge without permission last year, which received just 5% support in the poll. The launch of the unauthorized LayerZero bridge angered members of the Lido community, who felt the move was “disrespectful” and perceived as an attempt to pressure the protocol into endorsing LayerZero as the official bridge provider. The Lido community’s rejection of LayerZero’s bid for official endorsement highlights the ongoing conflict between interoperability protocols seeking to become the backbone for cross-chain transactions.