TVL
Current APY
$1 ETH =
Liquid Staking
Stake ETH
Receive $IP
Stake 0.01 ETH
and Receive $300 $IP.
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Liquid Staking
$IP represents a share of the total pool of staked ETH. The staked ETH earns yield over time in the form of more ETH, so the amount of ETH in the pool grows relative to the amount of $IP outstanding. As this happens, the value of 1 $IP represents more ETH in the pool. This means that holding $IP gives users access to both their initial staked ETH and their share of the new ETH earned as yield. This ratio never resets to 1:1, so the value of $IP relative to ETH will continue to grow over time.
Liquid Staked Tokens (LSTs) represent ownership of staked assets, typically cryptocurrencies like Monad (ETH). LSTs let users earn staking rewards while keeping their tokens liquid—meaning they can still use these tokens across the decentralized finance (DeFi) ecosystem.
$IP earns yield because it represents a share of the protocol's pool of staked ETH. When ETH is staked with validators on the Monad blockchain, the staking rewards earned are added back to this pool. As the pool grows relative to the total supply of $IP, the value of each $IP increases. Additionally, $IP can be used in DeFi to earn extra yield beyond the staking rewards.