Using stETH/wstETH For Impact Staking?

Withdrawal times

Using stETH and wstEth for Lido Impact Staking allows you to withdraw funds without the 1-4 day wait time period required when withdrawing ETH, from Lido Impact Staking.

What is stETH?

stETH is a transferable rebasing utility token representing a share of the total ETH staked through the protocol, which consists of user deposits and staking rewards. Because stETH rebases daily, it communicates the position of the share daily.

The mechanism which updates the stETH balances every day is called a “rebase”. Every day at 12PM UTC the amount of stETH in your address will increase with the current APR. You can learn more here: https://blog.lido.fi/steth-the-mechanics-of-steth/ ​ stETH tokens can be used as one would use ether, allowing you to get staking rewards while using them across the DeFi ecosystem to get more rewards. You can get your stETH here.

What is wstETH?

wstETH is a wrapped version of stETH. Due to the nature of Lido, the amount of stETH on your balance is not constant - it changes daily as staking rewards come in. As some DeFi protocols require a constant balance mechanism for tokens, wstETH keeps your balance of stETH fixed and uses an underlying share system to reflect your staking rewards.

Example:

• You wrap 100 stETH to 99.87 wstETH.

• You continue to get rewards on your wstETH.

• When you unwrap your wstETH, you receive 101 stETH

You can wrap your ETH or stETH to wstETH here.

How to import stETH/wstETH in your wallet?

For Metamask

1. Click on Import Tokens in you Tokens tab of your metamask wallet.

2. Search for stETH/wstETH in Popular tokens tab and click next.

3. Finally click on Import Button

Add as a custom token in any other wallet

For stETH

Input the values below and press Add Token to confirm

• Contract address: 0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84

• Symbol: stETH

• Decimals: 18

For wstETH

Input the values below and press Add Token to confirm

• Contract address: 0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0

• Symbol: wstETH

• Decimals: 18