Lido Proposal: #0x6bc51c2b07a9345a03a0bc0acb72ccc9f63879c981f3a6954164d110c5d330b2

Should the Lido DAO recognize the wstETH Bridge Endpoints on Mode as canonical?

Status:
Closed
Recognize100%

Recognize: 100%

50,255,974 LDO

Don’t recognize: 0%

1 LDO

Voting Period

  -  

Proposer

0xDbBC6A93ae517D3ea568C04219cbBBd025f01CB6

Discussion

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Description

The proposal is to recognize the wstETH token bridging endpoints for Mode by the Lido DAO as canonical. If Snapshot passes, the Lido DAO will control the endpoints of wstETH token contract (including the token contract on Mode itself) as a proxy admin. Lido DAO will only have the upgrade authority of the wstETH proxy contract, and will not be able to manage the native bridge itself.

The Mode Team is submitting this proposal to the community for the deployment of wstETH on Mode.

Motivation

wstETH has already been deployed to Optimism and Base, two of the biggest L2s that are also in the Superchain. The Mode core team suggests that it is strategically beneficial for the Lido DAO to also consider Mode as the next ecosystem to deploy their token. Mode has received support from Optimism in the form of an OP grant worth 2 million OP. As a key token, wstETH plays a vital role in DeFi activities across network segments.

The proposal aims to enhance wstETH adoption on Mode by signaling the Lido DAO’s recognition of the bridge endpoints.

Audits

To better form an opinion you may consider reading through the audit reports for:

Deployment artifacts and levers setup

The deployment is done using the exact codebase previously used for wstETH on Optimism and wstETH on Base bridge endpoints as the Mode network is OP-stack compatible.

Deployments on Mainnet (L1) and Mode (L2):

Levers setup: