The Lido community initiated a new proposal to introduce wstETH into the Cosmos ecosystem

Odaily Planet Daily News Axelar and Hadron Labs launched a new proposal to introduce wstETH into the Cosmos ecosystem. This bridge deployment is designed to allow for the eventual transfer of ownership of the bridge mechanism to the Lido DAO's Aragon smart contract, and to prevent possible challenges from an uncoordinated bridge with the Cosmos ecosystem. To alleviate the above concerns, Lido protocol relationship contributors and Hadron Labs (Neutron core contributors) collaborated to perform the following steps: 1. Negotiate with Osmosis and Injective to suspend uncoordinated bridging attempts; 2. Identify bridging suppliers and solicit proposals; 3. Evaluate bridging providers and collect results; 4. Contact DeFi projects and develop an integration roadmap; 5. Collaboratively define redline annotations and multi-bridge solution specifications; 6. Gather supporting financial commitments from bridging suppliers. The proposal outlines the outcome of the process, which includes deploying an initial bridge mechanism to meet an urgent need in the ecosystem and maintain the security and optionality of the Lido DAO. This initial bridging mechanism relies on an established bridging provider, Axelar, and a "wrapper contract" that specifies the unique name of wstETH in Cosmos (regardless of the mechanism used by the backend to bridge assets between ecosystems). The contract will initially be owned by multiple Cosmos ecosystem contributors until cross-chain governance is implemented and ownership of the contract can be transferred to Lido DAO’s Aragon smart contract on Ethereum. The "wrapper contract" also allows bridge providers to be added, removed, or replaced at the Lido DAO's request to comply with its security standards and long-term bridge vision, while avoiding liquidity fragmentation and technical debt. The deployment schedule proposed by Hadron Labs is as follows: - September 2023: Initial bridge launch; - The first half of 2024: Realization of cross-chain governance and multi-bridge realization. It is reported that the initial bridge implementation includes two components: Axelar Network (a general interoperability platform) and a dedicated packaging contract deployed on Neutron (Cosmos ecological chain).