💧lpETH: Unified Liquidity for (re)staked ETH

Instantly unstake for a tiny fee. Borrow against your stake without depegs. Bribe Liquidity Providers. All staked assets, one pool to support them all. DeFi summer 2.0 is right around the corner.

🤝 For stakers, by stakers

LpETH is specifically designed for staked assets, solving key issues that exist for stake in DeFi today, creating better experiences for stakers and liquidity providers alike.

🌊 Unified Liquidity

LpETH unifies liquidity for swapping and borrowing for all LSTs into a single pool, solving the fragmentation that exists today and creating better opportunities for liquidity providers and stakers.

⚔️ The Stake Wars

LpETH is bringing back the Curve wars! Liquidity providers can be bribed. LSTs protocols giving better bribes can receive lower fees or interest rates for their users versus their competitors. LSTs can tap into available liquidity without bootstrapping their own pools and bribe their way to success.

Introduction

"lpETH" is a new DeFi primitive unifiying liquidity for liquid (re) staked ETH. It's a single-sided liquidity pool containing just ETH, and acts as a clearinghouse for LSTs. "lpETH" has following important characteristics:

Single-Sided Liquidity: The pool contains ETH provided by liquidity providers.
Swap Multiple LSTs/LRTs: The pool accepts multiple LSTs/LRTs to be swapped for ETH, unifying their liquidity and volume, creating an attractive opportunity for LPs.
Instant Swaps: Users can swap their ETH LSTs/LRTs for ETH instantly for a small fee, bypassing withdrawal queues.
Mechanics: Received LSTs/LRTs from swaps are unstaked by the pool, increasing their respective utilisation until ETH is available for withdrawal.
Pricing: LSTs/LRTs are priced based on their backed ETH. Trading fees are based on the relative utilisation of ETH in the pool by each LST/LRT, and thus their current demand for instant exits.
Fee Gauges & Bribes: Fee gauge is a ratio applied to the fees for a particular LST/LRT that can be adjusted based on token bribes given to LPs.
lpETH: The liquidity pool token, representing the user’s share of liquidity.

NextWhy lpETH

Last updated 3 months ago

Introduction

Single-Sided Liquidity: The pool contains ETH provided by liquidity providers.

Swap Multiple LSTs/LRTs: The pool accepts multiple LSTs/LRTs to be swapped for ETH, unifying their liquidity and volume, creating an attractive opportunity for LPs.

Instant Swaps: Users can swap their ETH LSTs/LRTs for ETH instantly for a small fee, bypassing withdrawal queues.

Mechanics: Received LSTs/LRTs from swaps are unstaked by the pool, increasing their respective utilisation until ETH is available for withdrawal.

Pricing: LSTs/LRTs are priced based on their backed ETH. Trading fees are based on the relative utilisation of ETH in the pool by each LST/LRT, and thus their current demand for instant exits.

Fee Gauges & Bribes: Fee gauge is a ratio applied to the fees for a particular LST/LRT that can be adjusted based on token bribes given to LPs.

lpETH: The liquidity pool token, representing the user’s share of liquidity.