Minting

Users receive yield-bearing assets when they deposit funds into a yield-source. For example, BNB staked in Lista is represented as slisBNB. ETH staked in Lido is represented as stETH.

slisBNB and Stone are examples of yield-bearing tokens.

In OutStake, yield-bearing tokens can be broken down into three components: Staked Position Token (SP) and Yield Token (YT).

Simultaneously, SP can be further divided into Omnichain Universal Principal Token (UPT) and non-transferable SP, or it can be re-synthesized back into transferable SP.

Here's what each token represents:

• SP represents the redemption right of the principal of the locked position upon maturity.

• UPT represents the principal portion of the underlying yield-bearing token.

• YT represents the right to all interest earnings of the asset.

Users can stake yield-bearing assets (e.g., stETH) on OutStake to mint SP, YT, and UPT. The underlying asset (e.g., ETH) will be automatically converted into an yield-bearing asset before staking.

For example: ETH → wstETH → SY-wstETH → (SP-wstETH + YT-wstETH)，SP-wstETH <=> UETH.