Simplify your LsETH trading experience with BIT in just 2 steps:
On the APP
Step 1: Buy LsETH from the Spot market.
Step 2: Hold LsETH and start earning rewards.
To Check Rewards:
Go to Homepage > Asset > Select LsETH.
How to redeem your ETH Rewards on BIT?
To access your ETH rewards, all you have to do is sell some or all of your LsETH/USDT.
LsETH represents more than just staked ETH. Because it is based on the cToken model, the redemption rate at which LsETH can be converted back to ETH dynamically incorporates any accrued rewards, and adjusts for any applicable fees and penalties.
That means the value of any ETH network rewards you have received are already reflected in the value of your LsETH holdings. This is because the redemption value of each LsETH token, relative to the value of ETH, will have changed to account for the ETH network rewards received while you held the LsETH.
It’s important to note that the native value redemption value of LsETH (as defined by the Protocol Conversion Rate) is separate and independent from the rate at which LsETH may trade on the open markets. The market value of LsETH is also influenced by market conditions and overall demand and supply dynamics. However, the market rate for trading LsETH is unlikely to drift significantly from the Protocol Conversion Rate, given the opportunity for arbitrage between the price in the secondary market and LsETH/ETH Protocol Conversion Rate.
The redemption value of LsETH is dynamic. It reflects the value of underlying staked ETH plus the value of ETH network rewards that have been received, minus the value of any fees or penalties paid.
Learn more here, or in the BIT FAQ.