Alongside Staked ETH

How does the $AMKT DAO earn fees?

Alongside has written a smart contract that wraps the Lido stETH contract and captures a fee as the token rebases. In order to ensure AMKT holders receive yield, we propose having half of the Ethereum allocation in AMKT allocated to Alongside Wrapped stETH and the remaining half towards stETH.

This allows holders to inherit the security of the Lido network instead of trusting Alongside to run a full network of validators with slashing risks. astETH is redeemable for stETH just like WETH/ETH wrappers.

The Alongside Staked ETH (astETH) contract has been independently audited by Zach Obront, a lead security researcher that spearheaded AMKT V2 security audits.