Yearn Launches Index Token yETH with Multiple Liquidity Staking Derivative Tokens

The yield aggregation protocol Yearn has announced the official launch of the index token yETH, which is based on Liquidity Staking Derivative Tokens (LST).

The yETH index comprises several ETH Liquidity Staking Derivative Tokens issued by various liquidity staking protocols, including sfrxETH (25.89%), swETH (25.31%), wstETH (26.97%), ETHx (11.53%), and cbETH (10.30%). Yearn allows users to deposit any one or a combination of the five LSTs to receive yETH, providing exposure to multiple LSTs.

st-yETH holders will vote to adjust the composition of yETH and can earn on-chain rewards. Additionally, st-yETH holders have the right to vote on the introduction of other liquidity staking protocols in the future.

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