Lido describes itself as a liquid staking solution for Ethereum powered by several industry-leading staking providers and uses Steth as a payment medium. Steth coin, the token that combines the initial deposit amount established on the ethereum blockchain, in which ethereum is staked and Steth tokens are earned in return, and daily accrued betting rewards. Detailed information about what is Lido stETH coin (STETH), how it works, how much it costs, how to buy, etc. is in the continuation of the content. You can browse here for information about CEEK coin.
What is Lido stETH coin (STETH) and how does it work?
Lido stETH is known as the token established on the ethereum blockchain, where ethereum is staked and Steth tokens are earned in return, combining the initial deposit amount and daily accrued bet rewards. It makes staked ETH liquid and allows participation with any amount of ETH. The STeth balance is updated daily at 12:00 UTC to reflect the stake rewards earned, and the update is via the token supply re-base.
When traders stake their ETH with Lido, they receive in return stETH, which represents their staked balance. stETH can be sold on exchanges (effectively to remove stock) or once activated they can be used for Ethereum. As a user’s staked ETH generates stake rewards from ETH 2.0, the user’s ETH balance on the token will increase. stETH balances are updated once a day, giving you access to the value of your stake rewards received in ETH 1.0 in ETH 2.0.
How to buy Lido stETH coin? How much is the STETH coin price?
Lido stETH coin can be purchased from the listed cryptocurrency exchanges. But it is necessary to make sure that the exchange is reliable. As of December 7, 2021, the price of 1 STETH token is around $4,366.56 (the price can change instantly).
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency