Community Forum

Ask a Question
Back to All

How Does Bitwave handle stETH?

What is a Liquid Staked Derivative (LSD) token. Go to Lido, Marinade, Rocket Pool etc. They will take the assets you have and stake them with a bunch of others in return they will give you a receipt token, which often has a liquid market.

You stake ETH into Lido. you get stETH and the stETH you can redeploy in DeFi on other protocols.

stETH is interesting because it is a rebase token. Rebase tokens increase their balance in your wallet on a particular cadence, but do not produce a transaction on chain. A monthly report of rebasing rewards can be obtained from Lido (

Your token balance will change over time but there won’t be an on chain representation of that. This means we need to manually account for it in Bitwave.
E.g. LIDO - stETH, Olympus - OHM