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 StakeStone is represented as Stone.

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), Yield Token (YT), and Points Yield Token (PYT).

Simultaneously, SP can be further divided into Principal Token (PT) 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.

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

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

• PYT represents the external points earnings of the position.

Users can stake yield-bearing assets (e.g., wstETH) in OutStake to mint PT, YT, and PYT. 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 + PYT-wstETH)，SP-wstETH <=> PT-wstETH(UETH).