Wrapped stETH (WSTETH): A Non-Rebasing Ethereum Staking Token for DeFi
Overview of Wrapped stETH (WSTETH)
Wrapped stETH (WSTETH) is a version of stETH that maintains a steady token count while still earning Ethereum staking rewards. It’s widely used across DeFi, from lending apps to yield optimizers.
Because WSTETH doesn’t rebase, it fits well with protocols that prefer fixed-balance tokens. Users can easily integrate WSTETH into trading strategies, or just hold it in a wallet for stable staking exposure.
Utility & Use Cases WSTETH
Simple Staking Access
Hold WSTETH to earn ongoing ETH rewards without running your own validator.
Flexible Borrowing
Use WSTETH as collateral on DeFi platforms to borrow stablecoins or other assets.
Liquidity Pooling
Supply WSTETH to DEX pools and collect trading fees with minimal rebase complications.
Yield Farming
Combine WSTETH with advanced strategies to increase total staking returns.
Asset Management
Store WSTETH in a DeFi wallet and track staking growth without balance changes.
Wrapped stETH Technologies Overview
Cross-Chain Compatibility
WSTETH can move to various chains, letting users stake ETH and access DeFi everywhere.
Fast Transactions
Transactions on Ethereum and layer-2 solutions offer quick swaps and bridging for WSTETH.
Smart Contracts
WSTETH uses a smart contract wrapper around stETH, ensuring consistent balance and reward accrual.
Innovative Technology
Its non-rebasing mechanism simplifies integration with lending, trading, and yield protocols.
Security Audits
Audited by reputable firms to reduce risks and support safe usage in the broader DeFi market.
Funding
WSTETH was introduced by Lido Finance. Lido secured investments from notable crypto funds and DAOs. No separate token sale was conducted for WSTETH. Instead, Lido leveraged DAO funding rounds to support protocol expansion and audits. Major backers include Paradigm, a16z, and other known crypto investors.
Roadmap
Further Decentralization
Lido plans to open node operator participation, strengthening WSTETH security and distribution.
Dual Governance
Future updates may let WSTETH holders veto certain proposals and engage deeper in protocol decisions.
Continued Cross-Chain Growth
Lido aims to expand WSTETH bridging and support more platforms for flexible staking rewards.
Wrapped stETH Security & Audit Reports
WSTETH is backed by audited smart contracts that minimize rebase risks. Its design ensures stable token balances, and key operations undergo extensive review. Lido regularly updates security measures to protect stakers and their assets.
It is widely used on DEXs and lending markets, so you can trade or borrow against it.
Top Crypto Exchanges to Trade Wrapped stETH (WSTETH)
#
Exchange
Pair
Price
24h Volume
1
Balancer V2
0X7F39C581.../0X7FC66500...
~$11.048
$37,526,012
2
Uniswap V3 (Ethereum)
0X7F39C581.../0XC02AAA39...
~$1.19
$29,525,368
3
Solidly V3 (Ethereum)
0X7F39C581.../0XC02AAA39...
~$1.19
$101,119
4
Uniswap V2 (Ethereum)
0X7F39C581.../0XBAAC2B44...
~$1,160,306.23
$358,310
5
Uniswap V3 (Ethereum)
0X7F39C581.../0XA0B86991...
~$3,868.75
$403,947
6
PancakeSwap V3 (Ethereum)
0X7F39C581.../0XC02AAA39...
~$1.19
$350,600
7
Astroport (Neutron)
IBC/B559A8.../FACTORY/NE...
~$0.00026
$101,884
8
Astroport (Neutron)
UNTRN/FACTORY/NE...
~$0.000076
$15,707.5
9
Balancer V2
0X7F39C581.../0XF951E335...
~$1.1
$213.17
10
Curve (Ethereum)
0XD9A44285.../0X7F39C581...
~$0.87
$377,963
11
Uniswap V3 (Ethereum)
0X7F39C581.../0XBF5495EF...
~$1.15
$362,755
12
Curve (Ethereum)
0XF939E0A0.../0X7F39C581...
~$0.00026
$367,343
13
Balancer V2
0X44108F02.../0X7F39C581...
~$0.0001
$295,677
14
Balancer V2
0X7F39C581.../0XE95A203B...
~$1.0097
$250,521
15
Balancer V2
0X7F39C581.../0XAC3E0184...
~$1.073
$159,838
16
Balancer V2
0X7F39C581.../0XAE78736C...
~$1.064
$159,705
17
Curve (Ethereum)
0XD11C452F.../0X7F39C581...
~$1
$33,070
18
Balancer V2
0X7F39C581.../0XAE78736C...
~$1.065
$132,050
19
Balancer V2
0X7F39C581.../0XD9A44285...
~$1.15
$89,334
20
Curve (Ethereum)
0X18084FBA.../0X7F39C581...
~$26.36
$74,998
21
Balancer V2
0X7F39C581.../0XD11C452F...
~$1.001
$38,611
22
Balancer V2
0X7F39C581.../0XAC3E0184...
~$1.073
$34,270
23
Curve (Ethereum)
0X8C9532A6.../0X7F39C581...
~$1
$31,361
24
Balancer V2
0X7F39C581.../0XC02AAA39...
~$1.19
$1,648.69
25
PancakeSwap V3 (Ethereum)
0X49446A08.../0X7F39C581...
~$0.86
$4,729.7
26
Balancer V2
0X7F39C581.../0XC02AAA39...
~$1.19
$1,963.32
27
Balancer V2
0XE07F9D81.../0X7F39C581...
~$0.00026
$1,464.35
28
Balancer V2
0X5A98FCBE.../0X7F39C581...
~$0.00046
$1,143.08
29
Curve (Ethereum)
0X09DB87A5.../0X7F39C581...
~$0.85
$204.01
30
Curve (Ethereum)
0XD9A44285.../0X7F39C581...
~$0.87
$730.58
31
Uniswap V3 (Ethereum)
0XF073BAC2.../0X7F39C581...
~$0.85
$35.82
32
Balancer V2
0X7F39C581.../0XC02AAA39...
~$1.19
$41,790,025
33
Maya Protocol
WSTETH/CACAO
~$11,492.98
$919.41
34
Maya Protocol
WSTETH/CACAO
~$11,914.22
$225.99
35
Wombat (Arbitrum)
WSTETH/WETH
~$1.19
$13.13
36
Wombat (Arbitrum)
WETH/WSTETH
~$0.84
$1.53
37
Balancer V2
0X44108F02.../0X7F39C581...
~$0.0001
$13,038.96
38
Uniswap V3 (Ethereum)
0X7F39C581.../0XA1290D69...
~$1.16
$15,066.6
39
Astroport (Neutron)
FACTORY/NE.../FACTORY/NE...
~$0.000004
$12,087.58
40
Balancer V2
0X7F39C581.../0XA0B86991...
~$3,968.42
$81.53
41
Astroport (Neutron)
IBC/4D0408.../FACTORY/NE...
~$1
$19.2
42
Bancor (V2)
WSTETH/BNT
~$6,302.62
$130.86
43
Uniswap V3 (Ethereum)
0X7F39C581.../0XDAC17F95...
~$3,934.71
$8.29
44
Uniswap V3 (Ethereum)
0X7F39C581.../0XE95A203B...
~$1.014
$171,342
45
Curve (Ethereum)
0X7F39C581.../0XAE78736C...
~$1.064
$67,739
46
Balancer V2
0X7F39C581.../0XA35B1B31...
~$1.13
$98,360
47
Curve (Ethereum)
0X7F39C581.../0XAC3E0184...
~$1.074
$34,950
48
Curve (Ethereum)
0X49446A08.../0X7F39C581...
~$0.86
$28,205
49
Balancer V2
0X09DB87A5.../0X7F39C581...
~$0.85
$10,312.69
50
Uniswap V3 (Ethereum)
0X8C9532A6.../0X7F39C581...
~$1
$93.85
51
Curve (Ethereum)
0XAE78736C.../0X7F39C581...
~$0.94
$1,962.03
52
Uniswap V2 (Ethereum)
0X93ED3FBE.../0X7F39C581...
~$0.0000055
$2,633.26
53
Curve (Ethereum)
0XF073BAC2.../0X7F39C581...
~$0.86
$837.86
54
Curve (Ethereum)
0X661C7033.../0X7F39C581...
~$25.87
$533.62
55
Balancer V2
0X7F39C581.../0XC00E94CB...
~$47.053
$112.24
56
Balancer V2
0X6733F028.../0X7F39C581...
~$0.99
$220.17
57
Balancer V2
0X7F39C581.../0XF951E335...
~$1.1
$101.01
58
Balancer V2
0X7F39C581.../0XAE78736C...
~$1.07
$32.74
59
Curve (Ethereum)
0X2260FAC5.../0X7F39C581...
~$24.96
$19.92
60
Uniswap V3 (Ethereum)
0X7F39C581.../0XAE78736C...
~$1.052
$616.63
61
Balancer V2
0X7F39C581.../0XBEEF69AC...
~$1.00078
$405.75
62
Balancer V2
0X64AA3364.../0X7F39C581...
~$0.0057
$33.87
63
Balancer V2
0XBE989514.../0X7F39C581...
~$0.91
$4.77
64
Balancer V2
0X5DFE42EE.../0X7F39C581...
~$0.0000025
$170.47
65
Balancer V2
0X94025780.../0X7F39C581...
~$0.00000008
$79.05
66
Matcha (Ethereum)
0X2260FAC5.../0X7F39C581...
~$26.49
$5,561.22
67
Sushiswap
0X7F39C581.../0X6B175474...
~$3,945.93
$216.91
68
Balancer V2
0X38D64CE1.../0X7F39C581...
~$0.8
$166.4
69
Curve (Ethereum)
0X40D16FC0.../0X7F39C581...
~$0.00026
$34.2
70
Matcha (Ethereum)
0X7F39C581.../0XA0B86991...
~$3,934.86
$60,719
71
Matcha (Ethereum)
0X6B175474.../0X7F39C581...
~$0.00025
$15,204
72
Matcha (Ethereum)
0X7F39C581.../0XC02AAA39...
~$0.69
$60.49
73
Maverick Protocol V2 (Ethereum)
0X7F39C581.../0XC02AAA39...
~$1.18
$0.34
Wrapped stETH
WSTETH
Price
#208
$4,386.06
-2.71%
Market Cap
Market capitalization of Wrapped stETH (WSTETH) represents the total value of all circulating tokens. It is calculated by multiplying the current price of one token by the total number of tokens in circulation
$14,265,114,295
Fully Diluted Variation
Fully diluted valuation of Wrapped stETH (WSTETH) represents the theoretical market cap if all tokens that will ever exist were in circulation. It provides insight into the long-term value projection assuming the maximum supply is reached
$14,265,114,295
24 Hour Trading Vol
24-hour trading volume shows the total amount of Wrapped stETH (WSTETH) traded across all exchanges over the past day. Higher volumes generally indicate more market liquidity and interest in the token
$38,798,155
Circulating Supply
Circulating supply shows the number of Wrapped stETH (WSTETH) tokens currently available and circulating in the market. This excludes locked, reserved, or unissued tokens that cannot be sold or traded
3,253,346.027
Total Supply
Total supply represents all Wrapped stETH (WSTETH) tokens that currently exist, including both circulating tokens and those locked in various protocols or treasuries. It excludes tokens that will be created in the future
