How It Works

Overview

STONE is a non-rebase ERC-20 token that operates similarly to Lido's wstETH in terms of yield generation. As a non-rebase token, the numerical balance of STONE in your wallet remains constant; however, its intrinsic value in ETH increases over time due to accumulated staking yields.

For example, if user A deposits 100 ETH for 100 STONE, and after one year, the value of 1 STONE rises to 1.04 ETH, the user can withdraw 104 ETH from StakeStone using their 100 STONE.

The price of STONE is determined by the smart contract and is not influenced by DEX prices or information platforms like CoinGecko. This contract-based price is used for both deposits and withdrawals, ensuring users can always redeem their ETH according to the current STONE price in the contract. Users can view the STONE price for deposits and withdrawals on StakeStone's dApp.

Additionally, STONE is an Omnichain Fungible Token (OFT) built on LayerZero, allowing it to be seamlessly bridged across different chains. StakeStone leverages LayerZero’s solutions to develop customized contracts, enhancing STONE’s cross-chain compatibility. The upcoming mainnet will utilize Polyhedra and zkBridge for bridging STONE accumulated within the Bitcoin ecosystem, further expanding our interoperability and usability.

STONE’s address

Ethereum Mainnet: 0x7122985656e38BDC0302Db86685bb972b145bD3C

Manta Pacific: 0xEc901DA9c68E90798BbBb74c11406A32A70652C3