What are Liquid Staking Tokens (LSTs) on @Aptos?
Thala’s liquid staking module turns APT into productive, composable assets: thAPT and sthAPT.
Here’s a simple guide to how they work and why they matter 🧵
When you stake APT with Thala, you don’t just lock it away.
Instead, you receive thAPT — a tokenized deposit receipt pegged 1:1 with APT.
thAPT can be traded, supplied into DeFi, or redeemed back for APT (subject to the network’s unstaking queue).
Want to earn staking yield directly in your token balance?
Deposit thAPT into Thala’s LSD module and receive sthAPT.
sthAPT is a rebasing token. Your balance grows automatically as validator rewards accrue, reflecting your share of staking yield.
The design goes further:
thAPT earns validator rewards, but 20% of those rewards are redirected to boost sthAPT yields.
This means sthAPT doesn’t just earn its own rewards, it also captures a share of thAPT rewards.
The result: higher effective yield for sthAPT holders
Benefits for users
→ Liquidity: APT stays usable in DeFi instead of locked in staking.
→ Yield: sthAPT automatically compounds validator rewards.
→ Composability: thAPT and sthAPT can be traded, used as collateral, or paired in liquidity pools across the Aptos ecosystem.
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