Hi Axelarators - some important announcement to share.
12 Sep 2023, 14:42
Hi Axelarators - some important announcement to share!
Axelar, KyberSwap, & Lido have just implemented bridging functionality and support for ETH and wstETH on EVM chains like Ethereum, Arbitrum, Optimism, Polygon! š
What is axl-wstETH?
This is a 1:1 tokenization of wstETH by Axelar/Squid that facilitates seamless, fast, and cost-efficient cross-chain transactions between wstETH and ETH
Why is this important?
šø By participating in the wstETH/axl.wstETH and wstETH/ETH pools, users now have the opportunity to earn additional yield
š¤ LPs can also stake to earn farming rewards - potentially an additional stream of yield earnings on ETH
š FYI - wstETH/axl.wstETH pools have no impermanent loss
Learn more here š