Kintsu Staked MonadPrice

(SMON)

sMON is a yield-bearing liquid staking token (LST) designed for the Monad blockchain. When users stake their native Monad (MON) tokens through the Kintsu protocol, they receive sMON in return. This token represents the user's staked position and allows them to maintain liquidity. While the underlying MON earns staking rewards, the sMON can be freely used in other DeFi applications, ensuring users do not have to choose between staking rewards and ecosystem participation.

sMON and KSU serve distinct roles within the Kintsu protocol. sMON is the functional liquid staking token used for generating yield and participating in DeFi activities. In contrast, KSU is the governance token for the Kintsu DAO, intended for protocol management and decision-making. While sMON is currently available through staking, KSU is generally earned through participation in the Kintsu Points program and future community distributions.

sMON operates on an exchange rate model where the value of the token grows relative to the native MON. As staking rewards from the network's validators accrue to the total staking pool, the value of each sMON token increases. Consequently, 1 sMON is typically worth more than 1 MON, and this ratio continues to expand over time as rewards are compounded into the protocol.

Users earn rewards automatically just by holding sMON, as staking yield is compounded into the token's value. Additionally, users can participate in the Kintsu Points Program to earn loyalty rewards. Points are accumulated through activities such as minting sMON, providing liquidity on LBank or other partner platforms, and using sMON as collateral in supported lending markets. These points are used to determine eligibility for future governance token distributions.

There are two primary ways to exit a staked position. The first is native unstaking through the Kintsu protocol, which involves a redemption delay known as an unbonding period required by the network. The second is an instant swap, where users can trade sMON for MON on an exchange like LBank. This second method provides immediate liquidity, though it may be subject to minor price impact or spreads depending on market conditions.

For managing assets within the Monad ecosystem, using a compatible EVM wallet like the LBank Wallet is recommended. To view sMON balances, users may sometimes need to manually add the official sMON contract address to their wallet interface. This address is typically available in the official Kintsu documentation. For testing purposes, users can often access testnet MON through official community faucets provided by the project.