The StakedEthToken is an ERC-20 contract. It reflects the deposits made by the stakers in the form of stETH
tokens. The tokens are mapped 1 to 1 to ETH.
The total supply of stETH
is the sum of all the StakeWise Pool's validators' effective balances, plus an additional amount of up to (32 ETH - 1 Wei) ETH awaiting inclusion into a new validator. ​
The stETH
tokens are minted on every pool deposit 1 to 1 to the deposited ETH amount. The amount of stETH
a staker holds will determine how much rwETH
they accrue. If the staker's rwETH
balance falls below 0, it gets deducted from the stETH
balance. Once the rwETH
balance is restored back to 0, the staker's stETH
balance will return to its initial value.
The deposit of 5 ETH is added to the StakeWise Pool. The total supply of StakedEthToken
contract is now 5 stETH
.
The deposit of 28 ETH is added to the StakeWise Pool. The total supply of StakedEthToken
contract is now 32 stETH
. The new validator is now running for the Pool.
The validator's balance has changed from 32 ETH to 33 ETH. The BalanceReporters contract submits a total reward of 1 ETH to the RewardEthToken
contract. The total supply in the StakedEthToken
remains 32 stETH
and the total supply of theRewardEthToken
is 1 rwETH
.
The validator's balance has dropped from 33 ETH to 31 ETH. The BalanceReporters contract submits a total reward of -2 ETH to the RewardEthToken
contract. The total supply in the StakedEthToken
changes to 31 stETH
and the total supply of RewardEthToken
becomes 0 rwETH
.
The validator balance has increased from 31 ETH to 35 ETH. The BalanceReporters contract submits a total reward of 3 ETH to the RewardEthToken
contract. The total supply in the StakedEthToken
changes to 32 stETH
and the total supply of RewardEthToken
becomes 3 rwETH
.