Wrapped stASTRPrice

(WSTASTR)

wstASTR is a yield-bearing, non-rebasing liquid staking token associated with the Astake protocol, designed for the Astar Network and the Soneium Layer 2 ecosystem. When users stake their native ASTR tokens via the protocol, they receive wstASTR in return. Unlike rebasing tokens where the quantity in a wallet increases, wstASTR is structured so that its value grows relative to ASTR over time as staking rewards accumulate. This allows holders to maintain liquidity and participate in decentralized finance while still earning staking rewards.

ASTR is the native utility token of the Astar Network used for gas fees, governance, and traditional dApp staking, which typically requires locking funds for a specific period. In contrast, wstASTR is a liquid derivative. It remains in the user's wallet and can be traded or utilized across various DeFi applications. While native staking locks your capital, holding wstASTR allows you to earn rewards while keeping your assets flexible and usable for other on-chain activities.

wstASTR holders do not need to manually claim their rewards. The token is yield-bearing, meaning rewards are automatically compounded into the token's underlying value rather than distributed as additional tokens. As the protocol accrues staking rewards from the Astar dApp staking mechanism, the exchange rate of wstASTR against ASTR increases. When a user eventually decides to unstake or swap back to the native token, they receive more ASTR than they originally deposited.

To obtain wstASTR, users can visit the official Astake dApp and connect a compatible EVM wallet on either the Astar or Soneium networks. By depositing native ASTR tokens into the protocol, wstASTR is minted and sent to the user's wallet. A key feature of this token is its multi-chain support, enabled by Chainlink CCIP, which allows users to bridge wstASTR seamlessly between different supported blockchain environments.

There are two main methods for converting wstASTR back to ASTR. The first is the official protocol withdrawal through the dApp, which typically involves an unbonding period of approximately 10 days as required by the underlying network. For those seeking immediate liquidity, the second option is an instant swap. Because wstASTR is a liquid token, it can be traded back to ASTR on various supported decentralized exchanges within the ecosystem without waiting for the unbonding period.

wstASTR can be used in partner DeFi protocols for liquidity provision and yield farming to maximize rewards. Security is a priority, and the protocol has undergone audits by reputable firms like PeckShield. However, as with all DeFi products, users should be aware of smart contract risks. There is also a risk of temporary price deviation on open markets, known as de-pegging, though such instances are typically corrected by market participants through arbitrage.