About Liquid Staked ETH
Liquid Staked ETH (LsETH) is a token received when staking ETH using the Liquid Collective protocol. It's an ERC-20 token representing ownership of the staked ETH, plus any rewards earned minus fees and potential penalties. LsETH uses a floating conversion rate (the protocol conversion rate) to reflect the value of accumulated rewards, penalties, and fees. This rate determines how much ETH one LsETH can be converted into and is separate from market prices.
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