Staking Derivative Calculator
Calculate LST returns with restaking & DeFi yields
DERIVATIVE TOKEN
YIELD LAYERS
RISK FACTORS
VALUE ACCRUAL TRACKER
YIELD BREAKDOWN
DERIVATIVE COMPARISON
| Feature | stETH | rETH | Your Token |
|---|
ANALYSIS & INSIGHTS
Derivative Stories
Triple-Stacked Yield: 9.5% APY
Staked 20 ETH on Lido → got stETH (4% base APY). Restaked on EigenLayer (+ 3% APY). Provided stETH liquidity on Curve (+ 2.5% APY). Total: 9.5% APY on same 20 ETH. One year: earned 1.9 ETH ($3,800) vs 0.8 ETH native. Layers work but require monitoring all protocols.
stETH Rebasing = Tax Nightmare
Held 10 stETH for 1 year, balance grew to 10.4 stETH daily. Tax person said each rebase = taxable income in my country. Owed taxes on 0.4 ETH ($800) earned but not sold. Couldn't afford tax bill. Should've used rETH (no taxable events until sale). Check tax implications before choosing derivative.
rETH Exchange Rate Confusion
Bought 10 rETH for 10 ETH. Year later, still have 10 rETH but calculator says worth 10.4 ETH. Confused at first - where's my reward? Realized rETH/ETH rate went from 1.0 to 1.04. Same token count, higher value. Different from stETH but mathematically identical returns.
Restaking Slashing Scare
Restaked stETH on EigenLayer for extra 3% APY. One AVS (actively validated service) got slashed, lost 5% of restaked amount. Original staking fine, only restaked portion hit. Lost 0.5 ETH ($1,000) from restaking layer. Extra 3% APY not worth 5% slashing risk. Stick to base staking now.
Peg Arbitrage Opportunity
During market dip, stETH traded at 0.96 ETH (4% discount). Bought 100 stETH for 96 ETH. Held 2 months, peg recovered to 1.0. Sold for 100 ETH. Made 4 ETH ($8K) profit in 2 months (25% annualized) plus earned staking rewards. Calculator helped spot opportunity. Risk: peg could've worsened.
Compared All Derivatives
Tested stETH (4% APY, best liquidity), rETH (3.7% APY, most decentralized), cbETH (3.5% APY, Coinbase backing). Calculator showed: stETH earns most ($800/year on $20K), rETH safest (no rebasing tax), cbETH most convenient (same exchange). Went 50% stETH + 50% rETH for balance. Diversification > max yield.
Common Questions
What are staking derivatives?
Tokens representing staked ETH: stETH, rETH, cbETH, etc. Two types: Rebasing (stETH increases quantity, always 1:1 with ETH). Price-appreciating (rETH stays same quantity, price goes up). Both earn ~4% APY but mechanics differ. Can trade, use in DeFi, or restake for extra yield.
How does stETH value accrue?
Rebasing mechanism. Start with 10 stETH = 10 ETH. After 1 year at 4% APY, you have 10.4 stETH = 10.4 ETH. Token quantity increases daily, price stays ~1 ETH. Like getting dividend in more shares. Calculator shows daily balance growth.
How does rETH value accrue?
Price appreciation. Start with 10 rETH = 10 ETH. After 1 year, still 10 rETH but now worth 10.4 ETH (rETH price = 1.04 ETH). Quantity stays same, exchange rate increases. Like stock price going up. Some tax advantages vs rebasing.
What is restaking and how much does it earn?
Using staking derivatives (stETH/rETH) in protocols like EigenLayer to secure additional networks. Earn base staking rewards (4%) + restaking rewards (2-6% more). Total: 6-10% APY. Risk: additional slashing conditions, smart contract risk. Calculator shows restaking boost.
What happens if derivative loses peg?
stETH/rETH should equal ETH value but can trade at discount. June 2022: stETH = 0.94 ETH (6% depeg). If you sell during depeg, lose 6%. If you hold, peg recovers eventually. Causes: market stress, liquidity crunches, FUD. Calculator factors in peg risk scenarios.
Can I use derivatives in DeFi?
Yes, major advantage. Lend on Aave/Compound (2-3% APY), provide liquidity (1-5% APY), use as collateral to borrow. Stack yields: 4% staking + 3% lending + 2% restaking = 9% total. But each layer adds risk. Calculator shows multi-layer yield scenarios.
Which derivative is better: stETH or rETH?
stETH: Largest (30% of ETH stake), most liquid, best DeFi integration. Centralization concerns. rETH: More decentralized, fewer integrations, smaller liquidity. APY similar (3.8-4%). Tax: rETH potentially better (no daily taxable rebases). Choose based on values and use case.
Are derivative rewards taxable?
Complicated. stETH rebases = potentially daily taxable income in some jurisdictions. rETH price appreciation = only taxed when sold (capital gains). Check your local tax laws. Many prefer rETH for tax simplicity. Calculator doesn't account for taxes - consult tax professional.
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