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Stake ETH and keep liquidity — earn yield without locking assets
stETH
~3.8%
TVL $28B
Details →
rETH
~3.6%
TVL $3.4B
Details →
Various LSTs
+2–5% restaking
TVL $12B
Details →
frxETH/sfrxETH
~4.2%
TVL $480M
Details →
ETHx
~3.9%
TVL $320M
Details →
ankrETH
~3.5%
TVL $210M
Details →
osETH
~4.0%
TVL $180M
Details →
mETH
~4.1%
TVL $1.2B
Details →
swETH/rswETH
~4.3%
TVL $560M
Details →
cbETH
~3.3%
TVL $2.1B
Details →
| Protocol | Node Type | Min Stake | Commission | Slash Protection | DeFi Usage |
|---|---|---|---|---|---|
| Lido (stETH) | Curated operators | 0 ETH | 10% | DAO fund | ★★★★★ |
| Rocket Pool (rETH) | Permissionless | 0 ETH | 5–20% | RPL insurance | ★★★★☆ |
| Frax (sfrxETH) | Curated | 0 ETH | 10% | DAO | ★★★☆☆ |
| Stader (ETHx) | Permissionless | 0 ETH | 10% | SD insurance | ★★★☆☆ |
| Coinbase (cbETH) | Centralized | 0 ETH | 25% | Coinbase | ★★★☆☆ |
LST (Liquid Staking Token) prices should always equal or slightly exceed 1 ETH in ETH terms as they accumulate staking rewards. When stETH/ETH trades below 1.0 on Curve (discount to fair value), buying discounted stETH and holding until peg restoration is a classic arbitrage trade that has historically yielded 1–3% in under a week.
Yield-on-yield strategies: supply stETH to Aave (earn staking yield + Aave supply rate), borrow ETH against it, restake into Frax Ether (sfrxETH) for a slightly higher base rate. The net effect can stack 5–7% total yield, though liquidation risk exists if stETH depegs.
⚠ LSTs carry smart contract risk, slashing risk, and potential liquidity crises (as seen with stETH in June 2022). Never use more leverage than you can sustain through a temporary depeg.