### What is Wrapped stETH?

Wrapped stETH (WSTETH) is a token that represents staked Ether (stETH) in a non-rebasing format on the Lido platform. It allows users to maintain liquidity with their staked ETH, making it suitable for DeFi protocols that require constant token balances, while still earning staking rewards.

### How does Wrapped stETH work?

Wrapped stETH (WSTETH) operates on the Ethereum blockchain and is an ERC-20 token that wraps stETH. It maintains a fixed balance using an underlying share system to reflect staking rewards. This design is crucial for its compatibility with DeFi protocols that require consistent balances, such as Uniswap and MakerDAO. WSTETH uses smart contracts to manage the wrapping and unwrapping processes, ensuring seamless conversion between stETH and WSTETH.

### What are the potential use cases for Wrapped stETH?

WSTETH can be used in various DeFi protocols that do not support rebasable tokens, such as Uniswap and Aave, for activities like trading, providing liquidity, and borrowing. It can be utilised in liquidity pools, yield farming, and as collateral for loans. WSTETH's design makes it particularly valuable in the DeFi ecosystem and Layer 2 networks for facilitating staking and liquidity operations while retaining staking rewards.

### What is the history of Wrapped stETH?

WSTETH was introduced by the Lido team to provide a stable, non-rebasing version of stETH. Conceived by Lido's founding team, including Vasilii Shapovalov and Konstantin Lomashuk, WSTETH was launched on February 19, 2021. Its introduction allowed integration across DeFi protocols requiring constant token balances. Since then, WSTETH has expanded through bridging and cross-chain integrations to networks like Arbitrum and Optimism, enhancing its marketplace presence and utility within the decentralized finance landscape.

Wrapped stETH

Deposits are not currently available for this coin.

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