Element Finance has recently launched support for crvSTETH with a 90-day term, allowing users to get rewards on their tokens by minting principle and yield tokens with their crvSTETH. APY is got through the crvSTETH Yearn vault, trading fees for the stETH/ETH Curve pool, as well as any trading fees for crvSTETH principle and yield token pools (if users decide to provide liquidity).

Element Finance allows users to essentially split their tokens into two forms: principle tokens (the initial amount the user stakes) and yield tokens (which represent the variable interest a user gets).

This allows for greater capital efficiency through the use of secondary markets which allow stakers to sell a particular amount of their principle tokens, whilst still retaining their rewards by keeping their yield tokens. Because of this mechanism, principle tokens are only redeemable after a specific amount of time, and hence, only trade at a discount prior to that maturity date through these secondary markets.

Users should acknowledge that there is a 90-day maturity term, meaning that only once 90 days have passed, will users be able to fully redeem their principle tokens at full value.

Stakers require stETH LP tokens to stake into Element Finance. A detailed guide can be found here. All the steps required are the same, but users should not stake their LP tokens into the Curve gauge.