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Wrapping stPEAQ into wstPEAQ

stPEAQ is a rebasable token​

The amount of stPEAQ balance is not constant - it changes as rewards are distributed, resulting in what is known as a rebasable token.

wstPEAQ is a wrapped version of stPEAQ (interest bearing token)​

When wrapping stPEAQ, one will obtain a corresponding amount of wstPEAQ. The amount of wstPEAQ obtained from the wrapping corresponds to the amount of underlying shares of stPEAQ.

wstPEAQ balance WILL NOT change as rewards are distributed. However, as rewards are distributed, the value of each stPEAQ share (wstPEAQ) increases. As a result, upon unwrapping wstPEAQ, one will receive a larger amount of stPEAQ than they had originally wrapped.

Here is an example:

  • User wraps 100 stPEAQ to 99.87 wstPEAQ.
  • User continues to get rewards on wstPEAQ.
  • When user unwraps wstPEAQ, they receive 101 stPEAQ.
  • User can head over to the wrap page to wrap desired amounts of stPEAQ or PEAQ into wstPEAQ.
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Why the need for wstPEAQ?​

Although stPEAQ’s rebasing mechanism allows a constant change in balance to reflect rewards, most DeFi applications require a constant balance mechanism for tokens. Thus wstPEAQ allows a seamless integration into popular DeFi protocols in various ecosystems.