Lido stETH
Price
STETH
About Lido stETH
Lido stETH (STETH) is a cryptocurrency launched in 2020 and operates on the Ethereum platform.
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 initial staking deposit plus staking rewards which accrue daily. 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.
Lido stETH has a current supply of 1,394,377.62472596. The last known price of Lido stETH is 3,904.89325224 USD and is up 3.98 over the last 24 hours.
How it works
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.
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