REETH

Rebasing Ethereum

REETH (Rebasing Ethereum) is a rebasing token, designed to target the price of Ethereum with daily rebases. It has a simple redemption system that rewards users with REETH when they use our integrated dex aggregator and/or provide ETH/REETH liquidity to Sushiswap.

The rebase mechanism is regulating the Reeth supply by expanding or contracting the supply according to the daily Reeth price, and thereby pushes Reeth to it`s target price over time. But also the stabilization system is an important part of the Reeth ecosystem, it further stabilizes the Reeth price with stability-swaps by following the market swings via a sophisticated rebase trading algorithm. The hereby gained ETH collateral is collected in the wrapper contract and is used to support the price of Reeth when in contraction.

Stabilize Protocol did not hold any Reeth at launch, 100% of the initial Reeth supply of 67 Reeth was owned by users. The buyback treasury, which is filled by trade fees from the integrated dex aggregator, will purchase Reeth from the market. This is the only way how Stabilize Protocol will get into posession of Reeth.

REETH contract address: 0xe804964c296E9FB666fBE67767838c1FF9Ab3209​

What can I do with REETH?

Ecosystem overview

Provide REETH LP

Users can supply Sushiswap REETH / ETH LP and stake it into the LPFarm to earn continuous REETH rewards in perpetuity. Rewards are scaled to adjust based on rebases.

SLP Staker

Wrap REETH into zs-REETH

Users can wrap REETH into zs-REETH to help stabilize REETH with ETH in a brand new Stabilize strategy and earn arbitrage interest while doing so.

zs-REETH wrapper

The wrapper can be found on under the wrap page. Users will receive zs-REETH when they wrap their REETH. zs-REETH can then be staked to start user participation in the cashback system on the REETH page.

How does the cashback system work?

Every time you use the integrated exchange, a dex aggregator with various liquidity sources, the gas you’ve spent on the trade and the Ether equivalent of the trade amount is stored under your account. You can then claim up to 50% the value of your staked zs-REETH token value (in total ETH value) up to 4% of what you’ve spent in ETH equivalent. The longer you stake without claiming, the higher percentage you can claim. The claiming percent follows an exponential curve then a linear one up to 50% in about 3.5 months.

Percent claimable vs time (in seconds)

Each time you unstake or restake more, the claim timer resets. The more REETH you stake, the higher percentage of your ETH spent is claimable, following a linear curve of 4% when 10 ETH equivalent is staked.

For example, let’s say Alice has 20 zs-REETH staked that are worth 22 ETH in total value. She trades 10,000 USDC for 10,005 USDT using the integrated exchange and is calculated to have spent 4.54 ETH equivalent (when ETH is worth 2,200 USDC). She has staked for over 3 months and is eligible to receive cashback up to 45% of staked ETH value, which is 9.9 ETH; however she has only spent 4.54 ETH equivalent. She can claim 4% of her ETH spent due to staking more than 10 ETH equivalent, which is 0.1816 ETH. This is her maximum claimable amount. The protocol will mint REETH to the user, worth 0.1816 ETH. Claiming zs-REETH rewards will also add to the ETH spent balance.

Not only can users add to their ETH spent balance by using the exchange and claiming zs-REETH rewards, but also calling rebase in the Monetary policy will add the transaction’s gas cost to the caller’s ETH spent. Every day after 12:00 UTC, anyone can trigger the daily rebase in the contract and earn 150% Reeth cashback for the gas spent. Users can delegate where this ETH spent goes in case they want to use bots to call the function.

How to call the rebase function

Head over to the Reeth Monetary Policy contract and connect the contract to your wallet (Connect to Web3). Select the rebase function, insert the adress to which you want to delegate the ETH spent generated by the transaction. Hit the "Write" button and confirm the transaction, done!

The rebase function in the monetary policy