About Lido wstETH

wstETH is a wrapped version of stETH that functions similarly to a c-token, avoiding daily rebase or account changes. It grants proportional ownership of staked ETH (stETH). When you exit wstETH, you receive your principal stETH along with the earnings from stETH. The token is minted and burned as stETH is wrapped or unwrapped. Lido is a liquid staking platform for proof-of-stake blockchains, providing a token that reflects your staked assets and accrued rewards over time. It simplifies participation in DeFi by removing the need to operate staking infrastructure.