Popular Ethereum staking platform Lido Finance has chosen Neutron and Axelar to launch wstETH on Cosmos, The Block reports.
In the statement, it was stated that the partnership aims to improve cross-chain interoperability for liquid staking in the Cosmos ecosystem.
It was also stated that more than 30 Cosmos teams are interested in integrating wstETH.
Axelar co-founder Sergey Gorbunov stated the following in his statement:
“Cross-chain expansion of the largest liquid staking token will be secured by AXL and powered by full-stack interoperability.”
“We are excited to be part of the effort to bring Lido’s staking ether, one of the largest liquid staking tokens, to the Cosmos ecosystem,” said Neutron executive Avril Dutheil. “The collaboration between Neutron, Axelar and the Lido DAO demonstrates how blockchain projects come together to foster innovation and seamless interoperability.” “It's a great example of what's to come.” said.
After the news, there was a small upward movement in the prices of Cosmos (ATOM), Axelar (AXL) and LDO.
*This is not investment advice.