Lido DAO

The proposal is to accept the ownership of the wstETH bridging on Base components by the Lido DAO. If Snapshot passes, the management of the wstETH bridging components is set to be performed by the Lido DAO.

KyberSwap proposed the deployment of wstETH (Wrapped staked ETH) to Base, with the ultimate goal of acceptance of ownership of the wstETH bridging components by the Lido DAO.

This initiative has been undertaken by the Beefy team who deployed the wstETH canonical bridge to Base, utilizing the same open-source solution previously applied in the Optimism deployment.

Motivation

Since Base’s launch in August, it has been ranked consistently among the top three L2s solutions in terms of total value assets and has exhibited substantial growth across various metrics. The Base has a strong demand for wstETH due to its utility in various DeFi protocols. The proposal aims to enhance wstETH adoption in Base.

Audits

• Governance crosschain bridges (OptimismBridgeExecutor)
• wstETH token bridge (L1ERC20TokenBridge, ERC20Bridged, L2ERC20TokenBridge)

The codebase used for this deployment fully matches the codebase used for wstETH on Optimism, thus additional audits were not required. Lido technical contributors have verified that the on-chain code matches the original codebase.

Deployment artifacts and levers setup:

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

• OptimismBridgeExecutor on L2: 0x0E37599436974a25dDeEdF795C848d30Af46eaCF (Mainnet to Base decisions forwarder for the Lido DAO Agent)
• L1ERC20TokenBridge on L1: 0x9de443AdC5A411E83F1878Ef24C3F52C61571e72 (Mainnet token bridge part for wstETH)
• ERC20Bridged on L2: 0xc1CBa3fCea344f92D9239c08C0568f6F2F0ee452 (Base representation for wstETH proposed as the canonical one)
• L2ERC20TokenBridge on L2: 0xac9D11cD4D7eF6e54F14643a393F68Ca014287AB (Base token bridge part for wstETH)

Levers setup:

• OptimismBridgeExecutor
  • getEthereumBridgeExecutor is the Lido DAO Agent (admin)
• Ultimate admin and role holder on L1 is the Lido DAO Agent
  • 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
  • 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
• Emergency breaks msig on L1 is the already established one (0x73b047fe6337183A454c5217241D780a932777bD):
  • WITHDRAWALS_DISABLER_ROLE for L1ERC20TokenBridge
  • DEPOSITS_DISABLER_ROLE for L1ERC20TokenBridge
• Emergency breaks msig on L2 is a newly created one (0x0F9A0e7071B7B21bc7a8514DA2cd251bc1FF0725) with the same EOA members as for L1:
  • WITHDRAWALS_DISABLER_ROLE for L2ERC20TokenBridge
  • DEPOSITS_DISABLER_ROLE for L2ERC20TokenBridge