BENQI Staked AVAX (sAVAX)
BENQI Staked AVAX, sAVAX is the token users receive when staking their AVAX on BENQI Liquid Staking. It is the tokenized version of their staked AVAX position and accrues interest through Avalanche staking rewards.
Users are able to exchange sAVAX for AVAX + staking rewards through the
Unstaketab in the BLS app.
The price of sAVAX increases relative to the amount of total AVAX staked (including accrued AVAX rewards) in the pool.
sAVAX Price =
total AVAX staked / total sAVAX minted * AVAX price