The wrapped version of Lido's staked Ether (stETH).
Wrapped StETH (WSTETH) is a token that represents a wrapped form of stETH -
the liquid staking token of Ethereum issued by Lido.
It allows compatibility with DeFi platforms that require fixed-balance tokens.
While stETH's balance increases daily with staking rewards, WSTETH maintains a fixed quantity by representing an equivalent wrapped value that grows in price instead.
Below is live market data fetched directly from the CoinGecko API.
Wrapped StETH (WSTETH) Live Data
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Project Overview
Wrapped StETH was created by Lido Finance to improve stETH compatibility across DeFi ecosystems. It acts as a static-balance version of stETH that appreciates in value as staking rewards accumulate.
The token is fully backed by stETH and can be unwrapped back to stETH at any time. This ensures transparency, stability, and alignment with Ethereum's staking rewards.
WSTETH is widely used in protocols like Aave, Curve, and Balancer for collateral and liquidity provision.
Key Insights
WSTETH offers a fixed-balance representation of stETH, making it easier to integrate into DeFi platforms that require predictable balances.
It provides the same staking rewards as stETH but through value appreciation rather than token quantity.
By maintaining parity with stETH, it supports greater interoperability across the Ethereum ecosystem.
Common Questions About WSTETH
1. What is WSTETH?
It's the wrapped version of stETH, maintaining a fixed balance that grows in value as staking rewards accumulate.
2. How does WSTETH differ from stETH?
stETH balance increases over time, while WSTETH's price increases instead - making it easier to use in DeFi.
3. Can WSTETH be converted back to stETH?
Yes, users can unwrap WSTETH to receive the equivalent amount of stETH at any time.
4. Who developed WSTETH?
It was developed by Lido Finance, the same team behind stETH and one of the leaders in liquid staking.
5. Where is WSTETH used?
It's supported by major DeFi platforms such as Aave, Curve, and Balancer as a collateral and liquidity asset.
Market Context
Wrapped StETH plays a crucial role in the DeFi ecosystem by bridging staked assets and liquidity protocols. Its structure simplifies integration with DeFi smart contracts and supports the broader growth of Ethereum staking.
As more platforms support liquid staking, WSTETH is expected to remain a key asset for both yield generation and collateralization.