Wrapped stETH (Polygon zkEVM)

wstETH

wstETH is a DeFi-compatible version of stETH. stETH is a tradeable receipt of ETH locked through Lido to secure the Ethereum chain.

Risk Rating
Good
$4,016.90
3.14%
What is Wrapped stETH (Polygon zkEVM)?

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Information
Blockchain
  • Polygon zkEVM
Info
Key Metrics
  • Fully Diluted Valluation: $1.1B
  • Total Supply: 281,631
  • Volume (24H): $35K
  • ATH: $2,318,157.00 (01/17/2024)
  • ATL: $2,047.23 (11/03/2023)
Risk Assessment
Good
Asset Strength

wstETH is a mid-cap, fully collateralized asset. This asset is exposed to the underlying risks of Lido and Polygon zkEVM bridge, which are protocols rated as Best and Good, respectively.

Dependencies

Lido

Polygon zkEVM Bridge

Asset Tokenomics

wstETH has an uncapped supply but has inflation control or burn mechanisms in place. wstETH is backed 1:1 by ETH staked on the Ethereum chain. The asset accrues staking rewards automatically. wstETH can trade at a discount to 1 ETH as it is less liquid, has less utility (cannot be used to pay for gas fees), and has more technical risk (Lido smart contract bugs).

Things to know about wstETH

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