แปลง DOJO DOJO เป็น Leveraged stETH XSTETH

DOJO is a decentralized currency based on the Huobi ecological chain. 30% of smart contracts are transferred to black hole addresses, 17% are continuously burned, and 5% are added to the MDEX fund pool to provide liquidity. Currently, DOJO is completely driven by the DOJO community built by currency holders. development of. The origin and significance of DOJO: The origin of DOJO is derived from a group of TESLA enthusiasts. The TESLA neural network training computer DOJO will change the way of data processing in the future. So far, it is impossible to find any effective information about the founder.

xstETH token, also called leveraged stETH, is a decentralized, composable leveraged long stETH futures contract with a low risk of liquidations and a 0 funding fee. To create a stable-leverage pair, f(x) holds a reserve of some base token. To start, let’s consider stETH. Minted against that stETH reserve are two types of derivative tokens; one stable, and one volatile(xstETH). At all times, the total market cap of the two derivative tokens is held equal to the value of the reserve, and any derivative token can be redeemed at any time for its share of the reserve base token. The volatile token price rises at a multiple rate of stETH. Based on the performance of xETH, this multiple generally varies between 1.5x- 4x, though it can rise as high as 4.3X before the protocol responds to limit it.