Neutron, Axelar To Bring Lido's wsETH To Cosmos: A Game-Changer For Cross-Chain Interoperability
Portfolio Pulse from Murtuza Merchant
Neutron and Axelar are partnering to introduce Lido's wrapped liquid-staked ETH (wstETH) to the Cosmos platform, aiming to enhance cross-chain interoperability. This move is expected to expand wstETH and other assets within the Cosmos ecosystem. Both Neutron and Axelar have pledged 1% of their initial network genesis supply in token incentives to foster liquidity for wstETH within the inter-blockchain communication protocol (IBC) ecosystem.
September 14, 2023 | 7:20 pm
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NEUTRAL IMPACT
The transition of Lido's wstETH from the Ethereum ecosystem via Axelar to Neutron could potentially impact the value of Ethereum (ETH).
The transition of Lido's wstETH from the Ethereum ecosystem via Axelar to Neutron could potentially impact the demand for Ethereum (ETH), thereby affecting its value. However, the exact impact is uncertain at this point.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The introduction of Lido's wstETH to the Cosmos platform could potentially increase the value of Cosmos (ATOM) due to the expected expansion of wstETH and other assets within the Cosmos ecosystem.
The introduction of Lido's wstETH to the Cosmos platform is expected to expand wstETH and other assets within the Cosmos ecosystem. This could potentially increase the demand for Cosmos (ATOM), thereby increasing its value.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The introduction of Lido's wstETH to the Cosmos platform could potentially increase the value of Lido (LDO) due to the expected expansion of wstETH within the Cosmos ecosystem.
The introduction of Lido's wstETH to the Cosmos platform is expected to expand wstETH within the Cosmos ecosystem. This could potentially increase the demand for Lido (LDO), thereby increasing its value.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80