**Lido DAO Approves Axelar and Wormhole Bridges for BNB Chain**

In a recent onchain vote, the Lido community DAO approved integrating Axelar and Wormhole bridges to connect Lido Staked ETH (stETH) with the Binance BNB Chain. This move allows $23 billion in total value-locked (TVL) to interact with the BNB Chain, marking Lido's first connection to a layer-1 blockchain outside Ethereum.

Despite a dip below 30% in early 2024, Lido remains the dominant player in the staked Ether market with a 28.2% share. The platform also hit one million validators in April 2024, reinforcing its leading position in decentralized finance (DeFi).

Lido's liquid staking protocol, which allows users to earn yield while freely moving their assets, accounts for $25.94 billion of the DeFi market's $83.4 billion TVL, making it the largest DeFi protocol. This integration with the BNB Chain is a significant milestone for Lido, expanding its reach and influence in the DeFi ecosystem.