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.
Inspiration
Last updated