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WSTETH/ETH

ETH

TestNet Pool

133656.3831774873 ETH remaining

PROTECTED ACTION  

Validator Slashing

UNDERLYING TOKEN  

ETH

UNDERWRITING TOKEN  

wstETH

DEFAULT RATIO  

ETH

PAYOUT RATIO  

1 Protected : 1 Underwriting

EXPIRATION DATE  

Apr. 5. 2024

Overview

stETH is the token that represents participation in Ethereum's transaction
validation process following its move to a proof-of-stake consensus protocol.
When staking, users lock in, or “stake,” tokens on the blockchain in order to
earn validator opportunities that secure the network in exchange for rewards. In
return for staking ethereum on LIDO(lido.fi), users receive stETH in return. A
user can exchange 1 stETH for 1ETH anytime. This encompasses a few types of
risks, such as validator slashing, governance attacks, rug pulls, economic
exploits, or anything else that prevents stETH from being redeemed for ETH. For
staking and buying protection, we use the wrapped form of stETH which is wstETH.
wstETH is Defi protocol friendly. You can wrap your stETH to wstETH using
https://stake.lido.fi/wrap/. You can also unwrap your wstETH to get stETH back.




Policyholder Risks

If a hack occurs, the policyholder will be paid out in wstETH. So unless x loses
its peg, the underwriting capital will maintain its value. If another validator
in the vault suffers a default event before this validator does, then the vault
may default and be unable to pay out the full value of the protection.

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