What is Wrapped stETH (WSTETH)?
wstETH is a wrapped version of stETH. Instead of rebasing, or changing account holdings daily it is similar to a c-token. It represents a pro-rata ownership of the staked ETH (stETH). When someone exits wstETH they are returned principal stETH + stETH earnings. Lido is a liquid staking protocol for POS blockchains. It gives you a liquid token that represents your staked collateral and earnings over time. Lido removes the need to run infrastructure and enabling continued participation in DeFi. wstETH is minted and burned as stETH is wrapped and unwrapped.
Where can you buy Wrapped stETH?
Wrapped stETH (WSTETH) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for WSTETH sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
The price and 24-hour volume on this page combine the exchanges ReadPrices tracks for WSTETH. Before you trade, compare the fee schedule and the order-book depth on the venue you plan to use: the same coin can cost noticeably more to buy on a thin market.