Wrapped stETH WSTETH
WSTETH
5215.6
$
4.14 %
Change 24h
Market Cap
$ 16,586,400,000
Volume 24h
$ 65,099,600
Circulating Supply
3,180,440
Total Supply
3,435,700
WSTETH
$
Description
wstETH is a wrapped version of stETH. Instead of rebasing, or changing account holdings daily it is similar to a c-token. It represents a pro-rata ownership of the staked ETH (stETH). When someone exits wstETH they are returned principal stETH + stETH earnings.
Lido is a liquid staking protocol for POS blockchains. It gives you a liquid token that represents your staked collateral and earnings over time. Lido removes the need to run infrastructure and enabling continued participation in DeFi.
wstETH is minted and burned as stETH is wrapped and unwrapped.