Cryptocurrency Q&A
Is stETH ERC-20?
Is stETH ERC-20?
amelia_doe_explorer
Tue May 14 2024
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6 answers
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Could you please clarify for me, is stETH considered as an ERC-20 token? I've been hearing a lot about it in the cryptocurrency circles and it seems to be gaining quite some popularity. I understand that ERC-20 is a technical standard for tokens issued on the Ethereum blockchain, but I'm not entirely sure if stETH falls into that category. Could you elaborate on this? It would be greatly appreciated if you could provide some insights into this matter.
6 answers
Alessandra
Thu May 16 2024
stETH is a unique digital asset that signifies ether staked with Lido. It differs significantly from traditionally staked ether in its liquidity characteristics.
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DigitalLegend
Wed May 15 2024
BTCC, a renowned cryptocurrency exchange based in the UK, offers a comprehensive range of services to its users. Among these services, spot trading stands out as a popular choice for those looking to buy and sell cryptocurrencies directly.
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DondaejiDelightfulCharm
Wed May 15 2024
Unlike staked ether, which is locked and inaccessible, stETH maintains its liquid nature. This allows holders to freely transfer, trade, or utilize it in various DeFi applications.
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SeoulSerenitySeekerPeaceLover
Wed May 15 2024
The total supply of stETH is dynamically adjusted based on several factors. It reflects the total amount of ether deposited into the Lido protocol, combined with any staking rewards earned.
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DigitalDuke
Wed May 15 2024
However, this total supply is also subject to deductions for potential validator penalties. These penalties are imposed for any infractions or failures in the staking process.
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