stWEMIX is the derivative product of LIQUID Staking on WEMIX.Fi.
LIQUID Staking is a liquid staking solution on WEMIX.Fi. LIQUID Staking allows users to stake their WEMIX - without locking assets for a long time - while participating in on-chain activities, e.g., Swap, Pool, and Borrow. When a user stakes the asset in LIQUID Staking, the asset is automatically transferred to the ‘grand staking contract’ and aggregates a portion of staking rewards. Then, the user receives stWEMIX tokens, which can be used like regular WEMIX to swap or earn extra profit. The stWEMIX tokens represent staked WEMIX in LIQUID Staking, combining the value of the initial deposit and staking rewards - causing the value to increase over time.
The exchange rate between WEMIX and stWEMIX tokens is updated every time a new user makes a deposit. A user can facilitate the stWEMIX tokens to participate in various on-chain activities. For example, a user can sell stWEMIX on the stWEMIX-WEMIX market to buy WEMIX, and swap it into WEMIX$. Or a user can use stWEMIX as collateral to lend WEMIX or WEMIX$ and engage in more financial activities. stWEMIX tokens can be used as one would use WEMIX, allowing you to earn WEMIX staking rewards while benefiting from, among other things, rewards across decentralized financial products. However, the exchange rate between stWEMIX and WEMIX may vary on the market and LIQUID Staking.
