wstETH
This is a comprehensive risk assessment for wstETH use as collateral on the Bao platform, based on the PrismaRisk Risk assessment carried out several months earlier. This version can be seen as a update on the risk status of stETH for 2024.
Useful Links
Website: lido.fi
Documentation: docs.lido.fi | Audits | GitHub
Contracts: stETH | wstETH | LDO | Staking Router
Governance: Research Forum | Aragon | Snapshot | Easytrack
Markets: Curve stETH/ETH | Balancer wstETH/WETH
Dashboards: DeFiLlama | Rated (validators) | Dune Dash Catalogue | Scorecard
Protocol Overview
Launched in November 2020, Lido Finance provides a platform where users can earn staking rewards on the Ethereum beacon chain. This service is offered without the need for users to lock up their Ether or handle staking infrastructure. The platform gained significant popularity following Ethereum's shift to a proof-of-stake model in September 2022, and this growth was further amplified with the introduction of withdrawal functionalities through the Shanghai/Capella upgrade in April 2023.
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