Token Accounting
Last updated
Last updated
tETH is denominated in wstETH.
tETH is a value-accumulating receipt token that represents a user’s stake of the underlying assets in the tETH pool.
Yield Distribution: The yield generated by the assets in the tETH pool is credited to tETH holders once a day. This yield distribution is reflected in the tETH:wstETH exchange rate, which is updated periodically on the 'Dashboard' page.
Synchronization: The frequency of updating the exchange rate on the dApp is deliberately limited to ensure synchronization with the rebasing schedules of the underlying liquid staking tokens (LSTs). This synchronization helps maintain the accuracy of the exchange rate relative to the value of tETH.
Balance Maintenance: A user's balance of tETH will remain unchanged unless new deposits or redemptions are made. This stability ensures that the value of tETH accurately reflects the underlying assets in the pool and the associated yield generated over time.
Example:
For more information on the tETH:wstETH exchange rate, refer to the Whitepaper.
