Lido’s stETH token expands to layer 2 networks Optimism and Arbitrum

Lido, the leading liquid staking system on Ethereum, announced that it will support a wrapped version of its popular staked ether (stETH) token to Ethereum layer 2 networks Arbitrum and Optimism.

Users wishing to participate in staking without losing liquidity have turned to liquid staking solutions like Lido, which take their ETH, stake it, and give them a stETH token in return. This token tends to trade around the price of ETH on the open market.