The architecture of a canonical LST
summary
A canonical liquid staking token is built into the protocol so stakers mint sTez with an on‑chain exchange rate = total tez in the ledger ÷ total sTez outstanding, no operator or external contract required. Stake allocation to bakers is deterministic and parameterized on‑chain, slashing losses are socialized through the exchange rate, and FA compatibility is ensured via FA2.1. Formal verification is underway, a public testnet launches soon and activation targets protocol V; governance debate continues on caps, unbonding duration and voting in Tezos Agora.
AI-written summary · about
chapters (7)
- 0:00Canonical LST introduction
- 1:46Protocol-level liquid staking
- 3:35Canonical LST mechanism
- 6:23Baker allocation and slashing
- 7:46Institutional adoption benefits
- 9:10Current status and roadmap
- 10:36Q&A: Neutrality and slashing
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