$smooSUI - Accrual Token

Liquid Staking Vaults

A liquid staking vault is a type of decentralized finance (DeFi) application that allows users to stake their cryptocurrency holdings in a proof-of-stake (PoS) network and receive a liquid representation of their staked assets in return. In traditional PoS networks, staking tokens are locked up and cannot be used for other purposes until the staking period is over. However, with a liquid staking vault, users can unlock the value of their staked assets and use them in other DeFi applications or trade them on cryptocurrency exchanges while still earning staking rewards.

$smooSUI

$smooSUI represents a claim to $mooSUI in addition to the accrued validator rewards.

$smooSUI = $mooSUI + $Rewards

When users stake their $mooSUI into smoove::liquid_staking_vault, an exact amount of $smooSUI will be minted and transferred to their wallet.

Rewards derived from validators will be wrapped into $mooSUI and deposited into the liquid staking vault at regular intervals. This means that $smooSUI will always have an increasing amount of claim to the underlying $mooSUI.

By holding $smooSUI, a user is entitled to a % claim of the pool of $mooSUI + Rewards upon redemption.