Overview

stETH can be split into two different tokens: ETHS (ETH Stable) and ETHC (ETH Coin), which cater to users of different risk preferences. ETHS is effectively a stablecoin-like volatility product, while ETHC is a leveraged long ETH perpetual product.

ETHS been designed as a low volatility token:

• Stablecoin-like token backed by ETH

• Minimizes volatility

• Earn additional LP (ETHS/USDC) revenue

ETHC been designed as leveraged long ETH perpetual token:

• Leverage long on ETH

• No forced liquidation

• Emergency control mode to reduce the leverage of ETHC