stPLS via ERC4626

ERC4626 is a new type of token that allows for distributed shares of a token vault.

What is it?

  • New Token type based on ERC-20

  • Allows users to pool native tokens into the vault and own "shares".

  • Those shares can be redeemed for the tokens.

  • Protocols then implement a strategy to maximize yield on these tokens (staking) so that its users earn interest.

How does this work for Pi Staking?

  • Users deposit their PLS into our ERC-4626 contract, known as TokenstPLS.

  • The contract mints them equivalent stPLS.

  • Users can redeem stPLS for equivalent PLS plus their interest.

  • The deposited PLS is then sent to our Pi Pool to be staked for an amount of time.

  • Users can then redeem their stPLS whenever they like, if there is floating PLS available.


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