Unstake
sMON <> MONon Pancakeswap
Kintsu's sMON is usable as a substitute for MON across the DeFi ecosystem. You can also swap instantly between sMON and MON on DEXes at any time. Try it out!
Total Value Locked
sMON Exchange Ratio
# sMON Holders
FAQ
Liquid Staking
Why is 1 sMON not 1 MON?
sMON represents a share of the total pool of staked MON. The staked MON earns yield over time in the form of more MON, so the amount of MON in the pool grows relative to the amount of sMON outstanding. As this happens, each sMON token represents more MON in the pool. This means that holding sMON gives users access to both their initial staked MON and their share of the new MON earned as yield. This ratio never resets to 1:1, so the value of sMON relative to MON grows continuously over time.
What are Liquid Staked Tokens (LSTs)?
Liquid Staked Tokens (LSTs) represent ownership of staked assets, typically cryptocurrencies like MON. LSTs let users earn staking rewards while keeping their tokens liquid—meaning they can still use these tokens across the decentralized finance (DeFi) ecosystem.
How sMON earns yield
sMON earns yield because it represents a share of the protocol's pool of staked MON. When MON is staked with validators on the Monad, the staking rewards earned are added back to this pool. As the pool grows relative to the total supply of sMON, the value of each sMON increases. Additionally, sMON can be used in DeFi to earn extra yield beyond the staking rewards.