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wsEXOD
wsEXOD is the abbreviation for wrapped staked EXOD, which is the wrapped version of sEXOD.
A wrapped token's value is pegged to that of another token. In our case wsEXOD derives its value from the following calculation:
$Current market value of EXOD * Current Index = wsEXOD value$
As the current index increases with each rebase, so does the value of wsEXOD relative to the current price of EXOD.
In some tax jurisdictions a rebase reward is considered a taxable income. Holding wsEXOD removes this taxable event. Effectively, you are still collecting rebase rewards through the current index multiplier as your wsEXOD increases in value through the above equation.
You may also deposit your wsEXOD into ‘The Monolith’ LP on Beethoven-x and gain LP tokens. We recommend balancing your deposit to the pool by using 50% EXOD and 50% wsEXOD. These can then be used to bond or you can hold them to earn the APR from the pool.
At this time, we would not recommend holding LP tokens unless you plan on using them to bond.
Future use cases for wsEXOD
• wsEXOD could be used as collateral.
• wsEXOD could be used cross chain.