Cryptocurrency Q&A
Is stETH an ERC-20?
Is stETH an ERC-20?
CryptoLegend
Mon May 13 2024
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7 answers
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Is stETH categorized as an ERC-20 token? This question is central to understanding the nature and functionality of stETH within the crypto ecosystem. ERC-20 tokens are a standard protocol for fungible tokens on the Ethereum blockchain, allowing for interoperability and ease of integration across various decentralized applications. Given the importance of standardization in crypto, it's crucial to know if stETH adheres to the ERC-20 specifications. This knowledge affects how it can be used, traded, and integrated into smart contracts and DApps. Clarifying this point would greatly enhance my understanding of stETH's role in the broader crypto landscape.
7 answers
DongdaemunTrendsetterStyleIcon
Wed May 15 2024
stETH is a unique token that represents ether staked with Lido.
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Federica
Wed May 15 2024
Distinguishing itself from traditional staked ether, stETH possesses liquidity.
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HanbokElegance
Wed May 15 2024
This liquidity allows it to be freely transferred, traded, and utilized in various DeFi applications.
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Chloe_martinez_explorer
Wed May 15 2024
The total supply of stETH is determined by several factors.
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BusanBeautyBloomingStar
Tue May 14 2024
It reflects the total amount of ether deposited into the Lido protocol.
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