STETH Lido Staked Ether

Lido Staked Ether (STETH) is a liquid staking token issued within the Ethereum ecosystem through the Lido protocol. Each STETH token represents ether that has been deposited into Lido's decentralized staking infrastructure, with the token's balance updated daily to reflect accumulated staking rewards. Because STETH maintains a 1:1 peg to the underlying staked ether, holders continue to earn staking yield while still holding a transferable, composable asset. The token is minted when users deposit ether into the protocol and burned when the position is redeemed, and it can be deployed across decentralized finance applications for additional yield-generating strategies such as lending, borrowing, or providing liquidity. By converting staked ether into a liquid form, STETH allows participants to access the returns of network validation without locking up their assets or needing to manage validator operations directly. It is widely categorized among liquid staking tokens and is one of the largest representations of staked ether in circulation.