Support Lido wstETH on ZKSync Core Pool

Summary:

Lido contributors would like to propose the addition of wstETH to Venus Protocol as a core market asset on zkSync.

Motivation:

Lido’s wstETH is the leading LST on zkSync with 2.3k wstETH in bridged TVL at time of writing.

By bringing wstETH to Venus on zkSync, users will be able to take advantage of wstETH as a high quality yield bearing collateral asset, both for regular defi use cases and for LST looping.

Benefits:

• There are currently no LST’s on Venus’s zkSync deployment, so this proposal will enable the Venus community to take advantage of one of Defi’s most popular and reliable collateral assets.
• The addition of using a reward bearing collateral asset like wstETH increases capital efficiency and lending use cases for Venus Protocol.
• The addition of wstETH enables both Lido and Venus to support each other’s growth on zkSync.
• Additionally, incentives would be used for the purposes of bootstrapping.

About Lido

Lido.fi is a decentralized liquid staking platform behind stETH & wstETH that allows users to participate in Ethereum staking to earn ETH rewards without sacrificing liquidity.

Website: https://lido.fi/ 1 Twitter: x.com Discord: Lido

Specifications

Contract Addresses:

wstETH: 0x703b52F2b28fEbcB60E1372858AF5b18849FE867

Oracle & Price Feeds: Chainlink Oracle