The proposal is to recognize the wstETH token bridging endpoints for Zircuit 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 Zircuit 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.
About Zircuit
Zircuit is an Ethereum Virtual Machine (EVM) - compatible Zero-Knowledge Layer 2 rollup with AI-enabled security at the sequencer level. Apart from offering much lower network fees and higher transaction throughput than Ethereum mainnet, Zircuit’s main focus is security. Zircuit aims to become a central hub for restaked assets.
Zircuit is working with a multitude of DeFi projects to build a robust and secure ecosystem. Zircuit has not yet migrated funds from the Ethereum Mainnet onto Zircuit L2 and is still in its Testnet phase, but currently (September 2024), there is $1.8B in the Zircuit staking contract (see DefiLlama), of which about $120M is in wstETH. This number alone suggests that wstETH will play a key role in the Zircuit L2 ecosystem.
Links
Audits
To better form an opinion you may consider reading through the audit reports for:
- wstETH Token Bridge: audits/L2/Lido-L2-2022-07-Oxorio-Smart-Contracts-Security-Audit-Report.pdf
- Governance Crosschain Bridges: audits/L2/Governance-Crosschain-Bridges-2022-08-Oxorio-Audit Report.pdf
- wstETH Deployment on Zircuit: Zircuit / Lido / NEW Proposal
Deployments on Mainnet (L1) and Zircuit (L2):
Bridge UI: https://bridge.zircuit.com/
Explorer: https://explorer.zircuit.com/
Contracts
Ethereum
- L1ERC20TokenBridge
- Implementation: 0x6bc726C993103197C41d787dd72eCd4D2e1614E8
- OssifiableProxy: 0x912C7271a6A3622dfb8B218eb46a6122aB046C79
Zircuit
- ERC20Bridged
- Implementation: 0x929569e10d9166f31c8284fE3FE5db1C1E56D6b4
- OssifiableProxy: 0xf0e673Bc224A8Ca3ff67a61605814666b1234833
- L2ERC20TokenBridge
- Implementation: 0x224F00AEDD7A9F10e571898662ad19CD5abd9F2c
- OssifiableProxy: 0xF4DC271cA48446a5d2b97Ff41D39918DF8A4Eb0e
- OptimismBridgeExecutor: 0x6Bf2cac3ed2481da30aD36Cd3D64325c31065Cc5
Levers Setup
- OptimismBridgeExecutor
- getEthereumGovernanceExecutor(): Lido DAO Agent: 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c
- Ultimate admin and role holder on L1 is the Lido DAO Agent: 0x3e40D73EB977Dc6a537aF587D48316feE66E9C8c
- Proxy admin for L1ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L1ERC20TokenBridge
- Ultimate admin and role holder on L2 is the OptimismBridgeExecutor: 0x6Bf2cac3ed2481da30aD36Cd3D64325c31065Cc5
- Proxies admin for ERC20Bridged, L2ERC20TokenBridge
- DEFAULT_ADMIN_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- WITHDRAWALS_ENABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_ENABLER_ROLE for L2ERC20TokenBridge
- Lido Emergency brakes multisig on L1: 0x73b047fe6337183A454c5217241D780a932777bD
- WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
- Lido Emergency brakes multisig on L2: 0x9Bff79BF7226cB5C16d0Cca9c1dc60450feE560d
- WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
- DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge
Off-Chain Vote
Recognize
61.1M LDO100%
Don’t recognize
1.48K LDO0%
Timeline
Oct 17, 2024Proposal created
Oct 17, 2024Proposal vote started
Oct 24, 2024Proposal vote ended
Oct 31, 2025Proposal updated