Wrapped stETH token
Overview
Wrapped stETH (wstETH) is a non-rebasing ERC-20 token representing staked ether (stETH) from Lido. It automatically accrues staking rewards through an increasing conversion rate against stETH. wstETH is used in decentralized finance as a yield-bearing token that maintains a fixed balance.
Within the DeFi Intel graph, Wrapped stETH connects to 20 tracked entities, most strongly to Aave, Aave Models $124M to $230M in Bad Debt From Kelp Exploit, DeFi Protocols Launch Joint Escape Hatch for Aave ETH Lenders and Loopers.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 20 total).
| Relation | Connected entity | Confidence |
|---|---|---|
integrates | Aave | 95% |
mentions | Aave Models $124M to $230M in Bad Debt From Kelp Exploit | 95% |
mentions | DeFi Protocols Launch Joint Escape Hatch for Aave ETH Lenders and Loopers | 95% |
mentions | $293 Million Crypto Hack: Where Did Funds Go? | 95% |
issued_by | Lido DAO | 95% |
deployed_on | Arbitrum | 90% |
deployed_on | Optimism | 90% |
backed_by | crvUSD | 90% |
backed_by | Liquity BOLD | 90% |
backed_by | R | 90% |
Frequently asked questions
What is Wrapped stETH?
Wrapped stETH (wstETH) is a tokenized representation of staked ether issued by Lido. It is a wrapper around stETH that eliminates daily rebasing, instead reflecting staking rewards as a rising exchange rate against stETH.
How does wstETH differ from stETH?
stETH is a rebasing token whose balance changes daily to reflect staking rewards. wstETH is a non-rebasing version that maintains a fixed balance, with rewards accruing via an increasing conversion rate against stETH.
How can wstETH be converted back to ETH?
wstETH can be unwrapped to stETH on Lido's platform, then stETH can be withdrawn to ETH through Lido's withdrawal queue. Alternatively, users can sell wstETH directly on decentralized exchanges.
What is Wrapped stETH connected to?
In the DeFi Intel knowledge graph, Wrapped stETH is linked to 20 other tracked entities, most strongly to Aave, Aave Models $124M to $230M in Bad Debt From Kelp Exploit, DeFi Protocols Launch Joint Escape Hatch for Aave ETH Lenders and Loopers.
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