Market cap
$10.46B
1.36 %
Volume (24h)
$15.74K
1.36 %
Circulating supply
3,135,632 WSTETH
Total supply
3,394,611 WSTETH
Max. supply
3,458,217 WSTETH
Wrapped stETH (WSTETH)
$ 3,162.04
1.36 %
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Key data
updated $0Market cap$10.46B
Volume 24h$15.74K
Circulating supply3.14M91% of max 3.46M
Wrapped stETH (WSTETH) is the wrapped, non-rebasing version of Lido's staked ETH token. When you stake ETH through Lido, you get stETH, which grows daily via rebasing — your token balance simply increases. WSTETH wraps that balance so the number stays fixed while the value keeps growing, which makes it much easier to use in DeFi.
Frequently asked questions
What is WSTETH and how is it different from stETH?
stETH is Lido's liquid staking token that represents staked ETH and pays out staking rewards through a daily rebasing mechanism — your token count goes up over time. WSTETH is simply wrapped stETH: the balance stays constant, but each token is worth increasingly more stETH as rewards accrue. It's the same underlying asset, just packaged in a DeFi-friendlier way.
How does WSTETH work technically?
WSTETH is an ERC-20 token on Ethereum created by locking stETH in the wstETH contract. Instead of rebasing, it uses a share-based accounting model: your WSTETH represents a growing share of the underlying stETH pool. When you unwrap, you get back more stETH than you deposited, reflecting accumulated staking rewards. The security of the whole system ultimately rests on Ethereum's proof-of-stake consensus.
How is the supply of WSTETH created?
There's no independent emission — WSTETH only exists when someone wraps stETH, and it's burned when someone unwraps. The supply therefore always mirrors the amount of stETH locked in the wrapper. New stETH, in turn, is minted 1:1 when users stake fresh ETH through Lido, plus it grows slightly over time from staking rewards.
How can you store and use WSTETH?
WSTETH is a standard ERC-20 token, so any Ethereum-compatible wallet like MetaMask, Ledger, or Rabby works fine. Its fixed-balance design makes it popular in lending protocols, DEXs, and other DeFi apps where rebasing tokens can break accounting. You can unwrap it back to stETH at any time, and stETH can in turn be redeemed for ETH through Lido's exit flow.