What are BTC LSTs?

BTC LSTs is Endur's Liquid Staking Tokens that represents your staked BTC position. It's a yield-bearing token that allows you to maintain liquidity while earning staking rewards on your BTC tokens!

Supported BTC LSTS:

1. WBTC ⇒ xWBTC

2. tBTC ⇒ xtBTC

3. LBTC ⇒ xLBTC

4. SolvBTC ⇒ xsBTC

Exchange Rate and Token Amount

When you deposit BTC, you'll receive the respective BTC LST at the current exchange rate. You'll notice that the amount of BTC LST received is less than your BTC deposit. This is because of 2 reasons:

1. Exchange Rate

   • xyBTC's value increases over time relative to BTC and it reflects accumulated staking rewards. In simple terms, the rewards auto compound automatically when you hold any of the BTC LST.

   • Example: If 1 xWBTC = 1.1 WBTC, you'll receive ~0.91 xWBTC for 1 WBTC

2. Yield-Bearing Mechanism

   • BTC LSTs automatically accrues value from staking rewards.

   • Your BTC LST balance stays constant, but its value in BTC increases!