Lido DAO Rebukes LayerZero by Endorsing Rivals Wormhole, Axelar for Crypto Bridge

Lido DAO, the community governing the popular stETH token, has expressed its disapproval of LayerZero by endorsing rival bridge providers Wormhole and Axelar for crypto interoperability. This comes after LayerZero deployed a bridge without waiting for formal approval from Lido DAO, causing controversy within the community. Some members felt that LayerZero was trying to position itself as an official Lido partner without the DAO’s consent. The endorsement from Lido DAO is highly coveted, as it is the largest decentralized finance protocol with a significant amount of locked value. The competition among bridge protocols highlights the importance of cross-chain interoperability in the blockchain space. Pending a formal vote, the Axelar-Wormhole proposal will become Lido’s official provider for moving stETH tokens to BNB Chain. The goal of this collaboration is to prevent vendor lock-in and promote open access to multiple bridge providers. LayerZero’s competing proposal received minimal support in the temperature-check poll, emphasizing the significance of token holder input in decentralized protocols.