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Wrapped stBTC (WSTBTC)

Coin Information

Unknown Country

Blockchain: BEVM

Ticker: WSTBTC

Type: Token

Contract:

Price Statistics

Market Cap

Submit circulating supply

Fully Diluted Valuation

Coin Supply

Total: 15

Blockchain Explorers

Bevm.io

Website

~~Bido.finance~~

Inactive

Extra Links

Suggest a link

~~Github~~

Github Statistics

Social Media & News

~~X (Twitter)~~

Wrapped stBTC Price Chart

WSTBTC to USD Converter

About Wrapped stBTC

Wrapped stBTC (WSTBTC) is a non-rebasable counterpart of stBTC, designed to facilitate easier integration into decentralized finance (DeFi) applications. This innovative token is created through the Bido liquid-staking protocol for Bitcoin (BTC) on the BEVM network, which is a protocol modeled after Lido on Ethereum. Users who stake BTC via Bido receive stBTC, representing their share of the staked BTC along with any staking rewards, while WSTBTC serves as a liquid form that retains the accrued value of those stakes.

The Bido protocol offers a seamless experience for users looking to maximize their digital asset rewards while maintaining liquidity. Stakers can deposit their BTC into the protocol and, in return, will receive stBTC at a 1:1 ratio based on their staking amount. WSTBTC provides flexibility; while stBTC is subject to daily rebasing reflecting its staking position, WSTBTC can be transferred without the complications of rebase actions, allowing holders to engage with various DeFi services such as lending and farming.

With a current market cap of approximately $3.13 million and an annual percentage rate reflecting the staking ecosystem’s effectiveness within Bido, Wrapped stBTC (WSTBTC) plays a crucial role in the liquid-staking landscape. Through effective management and decentralized mechanics, the protocol ensures that stakers can maximize their returns while maintaining the freedom to utilize their assets across a range of DeFi platforms, thereby unlocking additional earning avenues without sacrificing liquidity.