Crypto staking service entity Lido Finance reportedly disclosed details ò its expansion plan for staked Ether (stETH) support throughout the ecosystem of Ethereum layer-2 (L2) networks.

Specifically, the Lido team reportedly revealed its intention of initially starting by providing facilitating features for Ether (ETH) staking through bridges to L2s using wrapped stETH (wstETH). In the future, it will eventually make it possible for users to stake straight on the L2s “without the need to bridge their assets back” to the Ethereum mainnet.

Regarding partnered L2s, the team reportedly revealed that prior to the announcement, it had already completed the integration of its bridged staking solutions with Argent and Aztec. It further disclosed that the next collection of partnerships and integrations would be informed within the next few weeks.

As soon as the fully-fledged L2 staking support is good to go, the Lido team is reportedly going to choose L2 heavyweights Arbitrum and Optimism to begin with, prior to widening the scope to cover other L2s that have sufficiently “demonstrated economic activity.”

Taking into account that L2s are built with a goal of bringing down the cost of Ethereum transactions, the team believed this initiative will make it possible for users to stake ETH with reduced fees, while at the same time tapping into “a new suite of DeFi applications to amplify yields:”

“There are several types of L2s. We believe that in the future, a large portion (if not a majority) of economic activity and transaction volume will migrate to both general use and purpose-specific Layer 2 networks.”

“Each of these networks will benefit from or need staking solutions to support their users’ economic activities and ensure that all users of Ethereum ecosystem networks have the ability to participate in securing Ethereum,” The team additionally remarked. 

As revealed on Lido’s website, at the moment, over 4.2 million ETH is staked on the platform, with the value equivalent to approximately $6.5 billion, giving it a standing in the list of the most major providers, total stETH value-wise, and second overall in terms of total value locked (TVL) for decentralized finance (DeFi) platforms.