Exactly Wrapped stETHPrice

(EXAWSTETH)

Exactly Wrapped stETH (exawsteth) is a specialized yield-bearing asset within the Exactly Protocol ecosystem. Technically known as an "exaVoucher" (ERC-4626), it represents a user's share in the protocol's Variable Rate Pool for wrapped staked Ether. When you deposit your staked assets into the protocol, you receive exawsteth as a receipt that automatically accrues interest from lending activities.

While standard staked tokens often use rebasing mechanisms to increase wallet balances or increase in price relative to ETH, exawsteth is a "yield-on-yield" token. It combines the underlying staking rewards from the provider with additional variable interest earned by lending those assets through the Exactly Protocol. It is a non-rebasing token, meaning your token count remains the same while its underlying value grows.

The primary utility of exawsteth is to maximize yield for ETH holders. By holding the token, users earn variable interest from lending markets on top of their existing Ethereum staking rewards. Furthermore, exawsteth can be used as collateral within the protocol to borrow other assets at fixed or variable rates, providing liquidity without requiring the user to sell their staked ETH position.

To get exawsteth, you must deposit wrapped staked Ether into the Variable Rate Pool via the protocol's dApp. The protocol then mints and sends exawsteth to your connected digital wallet. Since it is a protocol-specific voucher, you may need to manually add the contract address to your wallet to view your balance. For security, always verify contract addresses via the official documentation or the relevant block explorer.

Following a security event in August 2023, the protocol has implemented rigorous safety measures, including multiple new audits by firms like ABDK and Zellic, alongside enhanced input validation. However, users should be aware of liquidity risk. If the Variable Rate Pool reaches 100% utilization, withdrawals may be temporarily restricted until borrowers repay their loans or more liquidity is deposited into the pool.

The yield is derived from two sources: rewards from the underlying staking provider and the interest paid by borrowers within the protocol. Like other wrapped staked assets, exawsteth is non-rebasing. This means your token count stays constant, but the amount of the underlying asset you can claim with each exawsteth increases over time as interest is earned. You can realize your accumulated yield by withdrawing your assets from the protocol or trading the voucher on a supported exchange like LBank.