stETH.exchange
stETH.exchange lets you swap stETH or wstETH to WETH instantly at a small discount, without waiting for Lido's withdrawal queue.
Who is it for?
Swappers hold stETH or wstETH and want WETH now. Instead of waiting days or weeks in Lido's withdrawal queue, they pay a small discount (based on expected APY and wait time) and receive WETH immediately.
Liquidity Providers (LPs) deposit WETH into the vault. They earn yield from the discounts paid by swappers, in exchange for taking on the Lido withdrawal waiting period themselves.
How it works in one sentence
Swappers pay LPs to front the Lido withdrawal wait - the discount is the yield.