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Decentralized applications (dApps), such as Lybra, Prisma, Sommelier, Enzyme, that use these types of tokens are part of the LSTfi (LST finance) category of finance (allowing users to stake their LSTs in a form of collateral, or for other DeFi use cases). In other words, LSTfi is the use of LSTs in DeFi. LST finance (LSTfi) exploded after Ethereum’s Shanghai upgrade on April 12 2023, which enabled staked ETH withdrawals.
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