wstUSC
Wrapping stUSC
Last updated
Wrapping stUSC
Last updated
wstUSC is the non-rebase version of stUSC, with the main difference between the two being how rewards are distributed. While stUSC is a rebase ERC20 token that increases in balance as rewards are distributed, wstUSC is a non-rebase ERC20 token that increases in value instead of balance.
Wrapping stUSC in exchange for wstUSC allows individuals and organisations to earn non-rebase rewards without locking up their capital or sacrificing liquidity. To earn rewards from wstUSC, users simply need to wrap their stUSC. Once wrapped, the value of their wstUSC will periodically increase as rewards are distributed, providing a growing value on their staked position without increasing the token balance.
To earn non-rebase rewards from stUSC, users simply need to wrap their stUSC into wstUSC. Once they hold wstUSC, its value increases each time rewards are distributed.
Users can unwrap their wstUSC at any time to receive their initial stUSC deposit along with any accumulated rewards, ultimately receiving more stUSC than they initially deposited.
By wrapping stUSC, users receive wstUSC. The amount of wstUSC received depends on the stUSC exchange rate at the time of wrapping. Once users hold wstUSC, the value of their holdings appreciates each time stUSC rewards are distributed, with the rebase rewards passing through the wrapper.
There are no wrapping or unwrapping fees applied to the notional amount, ensuring that users receive the full benefit of all rewards.
Example
