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stkETH Exchange Rate Model

pSTAKE issues liquid staked stkETH against user’s ETH deposits based on an exchange-rate, inspired by the Compound’s cToken model.

The stkETH/ETH exchange rate is determined as follows:

Exchange rate formula

Exchange rate = Number of stkETH in supply / (Total ETH staked with pSTAKE + Total ETH Rewards generated by pSTAKE)