LsETH is a liquid staking token (LST) listed on Coinbase. Hold LsETH to earn more ETH from network rewards.
🌟 What is LsETH
LsETH is a liquid staking token (LST), a token representing staked ETH plus ETH earned from network rewards.
LsETH allows users to directly participate in ETH staking without locking your ETH. Just like a regular token, you can trade, swap, hold, or transfer LsETH.
You can think of LsETH like a token that keeps track of your staked Ethereum and its rewards in a straightforward way.
⭐️ Features of LsETH
- Auto-staked rewards
- Earn ETH network rewards daily
- No lock-up periods like ETH
- Built-in slashing coverage
- Secure and transparent
- Diversified node operators
🌟 Why does the value of LsETH differ from the value of ETH?
LsETH implements the cToken model, which uses a floating conversion rate to reflect the value of accrued network rewards, penalties, and fees associated with the underlying staked tokens.
Liquid Collective's Protocol Conversion Rate is the amount of ETH for which LsETH can be redeemed. The Conversion Rate is independent of the price at which ETH or LsETH may trade on the open market.
Because of the Conversion Rate, LsETH's value can change over time. Unlike some other token models where the staker receives more tokens to represent network rewards earned, with Liquid Collective's LsETH, you keep the same number of tokens as rewards are earned.
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