🚀 𝐖𝐞 𝐚𝐫𝐞 𝐭𝐡𝐫𝐢𝐥𝐥𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 𝐭𝐡𝐞 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐩𝐚𝐩𝐞𝐫 : 𝐬𝐭𝐄𝐓𝐇-𝐛𝐚𝐬𝐞𝐝 𝐒𝐰𝐚𝐩𝐬 𝐮𝐬𝐢𝐧𝐠 𝐄𝐑𝐂-6123
In this paper, we assessed the demand, benefits and risks of an Ethereum staking rate swap product within the Lido ecosystem and with the following characteristics:
1) using Lido stETH APR as a benchmark rate
2) using stETH as collateral and settlement asset
3) managed as a smart derivative contract (SDC) using ERC-6123.
This research project has been supported by a grant from LEGO (Lido Finance Ecosystem Grants Organization), to which we extend our sincere gratitude. This support has enabled us to conduct a thorough analysis of the risks and opportunities associated with stETH-based Ethereum Staking Rate Swaps and explore the potential of ERC-6123 smart derivatives within the Lido ecosystem.
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