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<\/p>\n Lido DAO adopts NTT standard to facilitate wstETH transfers to BNB Chain via Wormhole and Axelar, enhancing cross-chain interoperability.<\/p>\n
The Lido DAO has announced the integration of the Native Token Transfers (NTT) standard to enable the transfer of wrapped staked ETH (wstETH) to the BNB Chain. This integration leverages the interoperability infrastructure of Wormhole and Axelar, marking a significant milestone in enhancing cross-chain functionality for the largest protocol on Ethereum by total value locked (TVL), according to Wormhole.<\/p>\n Wormhole has developed a multi-bridge solution to improve the security, decentralization, and operational efficiency of token transfers. This approach ensures that the Lido DAO retains governance control over wstETH, maintaining high standards of safety and transparency. The integration is designed to support cross-chain governance, allowing Lido DAO to perform governance actions securely across different chains.<\/p>\n Native Token Transfers (NTT) introduces an open, flexible, and composable framework for transferring native tokens across blockchains while preserving their intrinsic properties. Integrating a token with NTT empowers teams to develop cross-chain protocols with an open framework that supports protocol evolution over a long time horizon. Projects built on NTT retain control over their tokens’ behavior on each chain, including customizability, metadata, and ownership\/upgradeability, enabling them to integrate with any kind of token standard or governance system.<\/p>\n For existing token deployments, the framework can be used in \u201clocking\u201d mode which preserves the original token supply on a single chain while enabling seamless cross-chain transfers. Alternatively, the framework can be deployed in \u201cburning\u201d mode to create natively multichain tokens with supply distributed among multiple chains.<\/p>\n NTT is powering natively multichain tokens for industry-leading projects like Lido, JitoSOL, ether.fi, Puffer Finance, Stakewise, and Wormhole\u2019s W token.<\/p>\n Developers and projects interested in going multichain can explore the Github<\/a> repository or contact Wormhole<\/a> to leverage the open and flexible standard trusted by the industry\u2019s high-value and systemically-important crypto assets.<\/p>\n To learn more about NTT, watch a 15-minute workshop given by Wormhole Foundation Product Lead, Nikhil Suri: Watch here<\/a>.<\/p>\n Wormhole is a leading interoperability platform that powers multichain applications and bridges at scale. It provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.<\/p>\n The wider Wormhole network is trusted and used by teams like Circle and Uniswap. To date, the platform has facilitated the transfer of over $40 billion through over 1 billion cross-chain messages. To learn more about Wormhole, follow on Twitter<\/a>, join the Discord<\/a>, or read the blog<\/a>.<\/p>\n Image source: Shutterstock<\/i><\/span><\/p>\n <\/p>\n
\n Iris Coleman<\/a>
\n Aug 13, 2024 10:08<\/span>
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\n ![\"Lido](\"https:\/\/image.blockchain.news:443\/features\/FCAF30107F93017A469BDB76DCCE7D957DFC034943E2204CF5967AAF05B60663.jpg\")
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\n <\/figure>\nWormhole\u2019s Approach to Token Transfers<\/h2>\n
How It Works<\/h2>\n
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NTT – A Neutral, Flexible, Open Token Transfer Framework<\/h2>\n
Take Your Token Multichain with NTT<\/h2>\n
Learn More<\/h2>\n
About Wormhole<\/h2>\n
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