# xxxETH

{% hint style="info" %}
xxxETH is an ERC20 token that represents ETH staked with 2HOT DAO Staking protocol.
{% endhint %}

## What is xxxETH <a href="#what-is-steth" id="what-is-steth"></a>

xxxETH is an ERC20 token that represents ETH staked with 2HOT DAO. Unlike staked Ethereum, it is liquid and can be transferred, traded, or used in DeFi applications. The total supply of xxxETH reflects the amount of ETH deposited into the protocol combined with staking rewards, minus potential validator penalties. \
\
xxxETH tokens are minted upon ETH deposit at a 1:1 ratio. When withdrawals from the Beacon chain will be introduced, it will also be possible to redeem ether by burning xxxETH at the same 1:1 ratio.&#x20;

Please note, 2HOT has implemented staking rate limits aimed at reducing the post-Merge staking surge's impact. There is a sliding window limit that is parametrized with `_maxStakingLimit` and `_stakeLimitIncreasePerBlock`. This means it is only possible to submit this much Ethereum to the 2HOT DAO staking contracts within a 24-hour timeframe. Currently, the daily staking limit is set at 150,000 ETH.

xxxETH is a rebasable ERC-20 token. Normally, the xxxETH token balances get recalculated daily when the 2HOT oracle reports a Beacon chain ETH balance update. The xxxETH balance update happens automatically on all the addresses holding xxxETH at the moment of rebase.&#x20;

{% code overflow="wrap" %}

```abap
//shares[account] = balanceOf(account) * totalShares / totalPooledEther
```

{% endcode %}


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