Wrapped Staked LINKPrice

(WSTLINK)

Wrapped Staked LINK (wstLINK) is a cryptocurrency token that serves as a wrapped version of stLINK. The stLINK token is a liquid staking token representing staked LINK (Chainlink's native token) within the stake.link protocol. When users stake LINK through stake.link, they receive stLINK, which accrues staking rewards while remaining liquid. wstLINK is designed for enhanced compatibility within decentralized finance (DeFi) protocols because it is a non-rebasing version of stLINK. While the balance of stLINK increases over time due to staking rewards, the value of wstLINK itself increases, making it more straightforward to use as collateral in lending markets and other complex smart contracts that may not easily handle rebasing tokens. The stake.link protocol is a permissionless liquid staking protocol specifically built for LINK staking. It aims to increase network security and participation by allowing users to stake LINK and potentially benefit from higher reward rates, composability, and faster withdrawals compared to native Chainlink staking. When the stake.link protocol stakes LINK in Chainlink pools, it mints stLINK on a 1:1 basis. wstLINK represents a receipt of this staked LINK used to secure the Chainlink Network. wstLINK is an ERC-20 token, meaning it operates on compatible blockchain networks like Ethereum and Arbitrum One. Wrapped tokens in general facilitate interoperability between different blockchain networks, allowing assets to be transferred and utilized across various platforms. This mechanism enables users to access the functionality and liquidity of an asset within different DeFi ecosystems. The smart contracts associated with stake.link and wstLINK have undergone audits by security firms such as CodeHawks, Cyfrin, and Sigma Prime. Users can wrap their stLINK into wstLINK and unwrap it at any time. Learn more

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