{"id":75372,"date":"2023-10-27T19:45:00","date_gmt":"2023-10-27T19:45:00","guid":{"rendered":"https:\/\/kryptodata.se\/9-protocols-accuse-layerzeros-wsteth-token-of-being-proprietary\/"},"modified":"2023-10-27T19:45:00","modified_gmt":"2023-10-27T19:45:00","slug":"9-protocols-accuse-layerzeros-wsteth-token-of-being-proprietary","status":"publish","type":"post","link":"http:\/\/kryptodata.se\/9-protocols-accuse-layerzeros-wsteth-token-of-being-proprietary\/","title":{"rendered":"9 Protocols Accuse LayerZero&#8217;s wstETH Token of Being &#8216;Proprietary&#8217;"},"content":{"rendered":"<p>Nine protocols in the Ethereum ecosystem, including Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router, have jointly criticized a new token from cross-chain protocol LayerZero. They claim that the token&#8217;s standard is a &#8220;vendor-locked proprietary standard&#8221; that limits the freedom of token issuers. The protocols advocate for the use of the xERC-20 token standard instead. LayerZero recently launched a bridged version of Lido Staked Ether (stETH) called Wrapped Staked Ether (wstETH) on BNB Chain, Avalanche, and Scroll without the approval of Lido&#8217;s decentralized autonomous organization (DAO). This has led to concerns about systemic risks and potential security issues. LayerZero has defended the security and decentralization of its token&#8217;s protocol.<\/p>\n","protected":false},"excerpt":{"rendered":"<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-10\/2923c29c-03ff-47ea-af2f-5caa88beb9d2.jpg\"><\/p>\n<p>Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer and Router issued a joint statement criticizing the new token.<\/p>\n","protected":false},"author":1,"featured_media":75373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[17],"tags":[57,46],"class_list":["post-75372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-dao","tag-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - 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