# Vault Synopsis The wrapped staked ETH token (wstETH) is the wrapped version for staked ETH on Lido Protocol. Lido generates ETH yield from its Proof of Stake (PoS) validator activities on the Ethereum network. Each stETH is backed by 1 ETH. The amount of stETH in circulation will rebase daily as staking rewards are distributed to the Lido validator network. Since some DeFi protocols require a constant token balance, wstETH was created to improve composability. The Lido Protocol utilises an underlying reserve-to-share mechanic whereby the number of stETH that can be redeemed by 1 wstETH will grow over time. The user can wrap or mint new wstETH tokens using the then-current stETH price after which their wstETH balance is fixed. Then the user can deposit the wstETH tokens on other protocols for leverage or additional yield. Users who wish to earn leveraged yield on wstETH via Lido may choose to deposit wstETH into the lov-wstETH vault. The wstETH 11x vault employs a delta-neutral strategy to leverage yield farming returns back to depositors. Depositors of the lov-wstETH Vault will receive a wrapped token (lov-stETH) representing their claim of vault reserve wstETH. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.origami.finance/the-second-fold-v2/deprecated-vaults/wsteth-11x/vault-synopsis.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.