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Wrapped stETH
wstETH
wstETH is a DeFi-compatible version of stETH that does not rebase and instead accrues yield through an increasing exchange rate of wstETH to ETH.
Risk Rating
Average
What is Wrapped stETH?
Information
Blockchain
- Polygon
Info
- Asset Type: ERC-20
Key Metrics
Risk Assessment
Average
Asset Strength
wstETH is a mid-cap, fully collateralized asset. This asset is exposed to the underlying risks of Lido and Polygon PoS bridge, which are protocols rated as Best and Watch out, respectively.
Dependencies
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
wstETH Pools
