What is Wrapped stETH?
Wrapped stETH (WSTETH) is a token that represents a stable version of staked Ether, designed for use in decentralized finance (DeFi) applications. It is a wrapped version of stETH, which is obtained by staking ETH through Lido's liquid staking platform. This allows users to participate in DeFi applications while still earning staking rewards.
Wrapped stETH goals
The purpose of Wrapped stETH is to provide a stable and constant balance version of stETH, which can be used in DeFi applications such as lending protocols, DEX'es, liquidity pools, aggregators, and optimizers. The project aims to solve the problem of stETH's regular rebasing, making it unsuitable for some DeFi protocols. Wrapped stETH's potential use cases include providing liquidity, generating yields, and participating in DeFi applications.
Marketcap
$13.88B
Total number of Wrapped stETH
3466842 WSTETH
Wrapped stETH technology
Wrapped stETH is built on the Ethereum blockchain and utilizes Lido's liquid staking platform to stake ETH. The technology works by wrapping stETH, which is obtained by staking ETH through Lido's platform, to provide a stable and constant balance version of stETH.
Wrapped stETH competitors
Wrapped stETH differentiates itself from competitors by providing a stable and constant balance version of stETH, making it suitable for DeFi applications. Its competitive advantage lies in its ability to provide a wrapped version of stETH, which can be used in a wide range of DeFi protocols. Wrapped stETH compares favorably to other liquid staking solutions, which may not provide a stable and constant balance.
Wrapped stETH price history
Frequently asked questions
Wrapped stETH is a wrapped version of stETH, which provides a stable and constant balance. stETH, on the other hand, undergoes regular rebasing.
Wrapping stETH provides a stable and constant balance version of stETH, making it suitable for use in DeFi applications.
Wrapped stETH is designed to be used in DeFi applications, but some protocols may not support it. It is recommended to check with the specific protocol before using Wrapped stETH.
Wrapped stETH is created by wrapping stETH, which is obtained by staking ETH through Lido's liquid staking platform.
Wrapped stETH is a wrapped version of stETH, which is obtained by staking ETH through Lido's liquid staking platform. Lido is the platform that provides the stETH, which is then wrapped to create Wrapped stETH.
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