What is stETH?

stETH is the tokenised form of staked Ether native to Lido.

Lido is a liquid staking solution for Ethereum backed by several industry-leading staking providers. It makes staked ETH liquid and allows participation with any amount of ETH.

stETH combines the value of your initial staking deposit plus staking rewards which accrue daily. Your stETH balance updates daily as 12pm UTC to reflect earned staking rewards, with the update taking place through a token supply rebase.

Lido’s stETH can be used as one would use ether, allowing holders to earn Eth2 staking rewards in addition to rewards through integrated platforms like Curve and SushiSwap.

How does stETH work?

When users stake their ETH with Lido they receive stETH in return representing their staked balance. stETH can be sold on exchanges - to effectively unstake - or redeemed for Ethereum once enabled.

As a user’s staked ETH generates staking rewards from ETH 2.0, the user’s ETH balance on the beacon chain will increase. stETH balances will update correspondingly once per day allowing you to access on ETH 1.0 the value of your staking rewards received on ETH 2.0.

Users can use stETH in all of the same ways that they can use ETH: sell it, spend it and, since it is compatible to be used in DeFi, use it as collateral for on-chain lending. When transactions are enabled on ETH 2.0, users can also redeem stETH for ETH.

How many stETH are in circulation?

The supply of stETH tracks the number of ETH deposited into the Lido contract. The total supply of stETH can be tracked via the token contract address.

Where can I buy stETH?

stETH is available for trading on a growing number of exchanges including Curve, 1Inch, Uniswap and SushiSwap.

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