The Lido community decentralized autonomous organization (DAO) recently approved the integration of Axelar and Wormhole as the official solution to bridge Lido Staked ETH to the BNB Chain. This move, following an onchain vote on Aug. 9, will enable $23 billion in total value-locked assets to interact with the BNB Chain, a top five chain in terms of total value locked. This marks a significant milestone for Lido as it connects to a layer-1 blockchain protocol outside the Ethereum ecosystem for the first time. Despite a slight decrease in market share earlier in 2024, Lido remains a dominant player in the staked Ether market, claiming 28.2% of net ETH deposits. With Lido leading the DeFi sector with $25.94 billion in TVL, the protocol, along with EigenLayer, has been instrumental in driving the TVL in DeFi to around $100 billion in the first quarter of 2024. Read more AI-generated news on: https://app.chaingpt.org/news