Nine Ethereum protocols criticize LayerZero's new bridged token standard

Nine protocols in the Ethereum ecosystem, including Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router, have criticized LayerZero's new bridged token for its "vendor-locked proprietary standard." They claim that this standard limits the freedom of token issuers and creates systemic risks for projects. The protocols advocate for the use of the xERC-20 token standard for bridging stETH instead of LayerZero's new token. LayerZero launched the bridged version of stETH, called "Wrapped Staked Ether (wstETH)," on BNB Chain, Avalanche, and Scroll without needing the approval of Lido's governing body, LidoDAO.