Lido, 1inch partner for faster stETH, wstETH withdrawals

Lido and 1inch’s partnership aims to streamline the swapping process for stETH, wstETH, and ETH, particularly during the unstaking phase.

The collaboration is expected to offer users expedited access to Ethereum, Arbitrum, and Optimism networks, bypassing conventional withdrawal queues.

Lido Finance emphasized 1inch’s optimization across multiple chains and its ability to ensure competitive rates by comparing hundreds of decentralized exchanges (DEXs).

Introducing the newest Lido withdrawal aggregator: @1inch ⚡️

Skip the withdrawal queues with instant swaps between stETH/wstETH and ETH using 1inch. pic.twitter.com/Ud1h75gASD

— Lido (@LidoFinance) February 21, 2024

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Lido, known for pooling users’ cryptocurrency to provide a liquid utility token equivalent to their staked assets, leads the decentralized finance (defi) sector with the highest total value locked (TVL), reported at $28.8 billion as of Feb. 21.

The integration reinforces Lido’s position in the market and broadens its offerings, including the stable version of stETH, wstETH, and support for staking Polygon’s native token, MATIC.

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