In-App Education Panels
Contextual education content designed to be embedded directly in the app UI at each transaction point. Three cards per section, 2–3 sentences each.
These panels provide contextual education directly where users transact — below the primary action button in each app section. Modeled after Ethena's in-app "About" pattern: three cards per section, each answering one key question in plain language with a link to full documentation.
Implementation notes for frontend:
Render as a card grid (3 columns on desktop, stacked on mobile) below the transaction interface.
Each card has: icon, heading (the question), body (2–3 sentences), and a "Learn More" link.
Content should be visible without scrolling on desktop, below the fold on mobile.
All copy is written for a general crypto user, not developers.
Mint esETH
Displayed below the Mint / Redeem interface.
Card 1: What is esETH?
esETH is a non-rebasing token pegged 1:1 with ETH that wraps multiple liquid staking tokens (wstETH, rETH, cbETH, weETH, aWETH) into a single representation. Yield from the underlying tokens is harvested separately by the protocol — esETH itself always equals 1 ETH. One balance, diversified exposure, simple accounting.
Card 2: How does minting work?
Deposit any supported LST or raw ETH, and receive esETH at a 1:1 ratio with the ETH value of your deposit. esETH is always pegged 1:1 with ETH — the mint amount is derived from intrinsic LST values (not market prices). Use previewMint() to check exact output before executing.
Card 3: Why hold esETH instead of a single LST?
Holding a single LST concentrates your risk in one staking provider. esETH spreads exposure across five providers — Lido, Rocket Pool, Coinbase, ether.fi, and Aave — so no single operator failure, slashing event, or depeg can wipe out your position.
Stake STRAT
Displayed below the Stake / Unstake / Claim interface.
Card 1: What is STRAT staking?
Stake STRAT to earn esETH yield from real protocol revenue — not inflationary token emissions. You receive sSTRAT-v2 as a receipt token, and rewards stream to you continuously. Unstake at any time with no lock period.
Card 2: How are rewards distributed?
Rewards stream linearly over 7 days rather than dropping all at once. This prevents frontrunners from staking right before a distribution and stealing yield from long-term holders. Your share grows the longer you stay staked.
Card 3: Where does the yield come from?
All staking yield comes from actual protocol activity: ESPN fee share today, and Treasury Lending interest once it launches. More borrowing and more ESPN deposits mean more yield for stakers — it's a direct claim on the protocol's economic output.
Borrow (Treasury Lending)
Displayed below the Borrow / Repay interface.
Card 1: What is Treasury Lending?
Borrow esETH against your STRAT and CDT at a fixed rate for a fixed term. No liquidation risk during the loan — your position cannot be called away before expiry. Interest paid by borrowers flows directly to STRAT stakers as real yield.
Card 2: How does collateral work?
You deposit both STRAT and CDT in proportion to the protocol's current debt ratio. Both tokens are burned at origination (not held in escrow). On repayment, equivalent STRAT and CDT are minted back to you. If you don't repay by expiry, collateral is forfeited.
Card 3: Why borrow instead of selling STRAT?
Selling STRAT means giving up future upside and creating sell pressure. Borrowing lets you access ETH liquidity while keeping your STRAT exposure. If STRAT appreciates during the loan term, you repay a fixed amount and keep the difference — you stay long while getting liquid.
Bond (Convertible Notes)
Displayed below the Bond interface.
Card 1: What is a convertible note?
Purchase a USD-denominated convertible note by sending ETH, and receive two composable tokens: CDT (fungible debt, 1 per ~$1 of USD notional) and an NFT encoding your conversion rights. The note is priced in USD — the ETH you send is valued via an ETH/USD oracle. Together, these tokens give you leveraged ETH exposure with a fixed downside — you always get at least your CDT back at settlement.
Card 2: How does conversion work?
After the timelock expires, burn CDT against your NFT to convert into STRAT and esETH. If STRAT price has risen above your strike, conversion is profitable — classic convertible bond upside. CDT and the NFT are independent and can be traded separately.
Card 3: Why does the protocol pay zero interest?
The conversion option itself is your compensation. The right to convert into STRAT at a fixed price is valuable enough that bonders accept 0% interest — the same structure MicroStrategy uses to raise billions. The protocol gets interest-free capital; you get asymmetric upside.
ESPN Vault
Displayed below the Deposit / Withdraw interface.
Card 1: What is ESPN?
ESPN (ETH Strategy Perpetual Note) earns yield from ETH volatility — not lending, not liquidity provision. Deposit USDS and the vault handles the rest: bonding with ETH Strategy for long-dated options, selling short-dated calls, and compounding premiums into growing share value.
Card 2: How is yield generated?
The vault bonds with ETH Strategy to acquire long-dated call options, then sells shorter-dated calls on Derive to collect premiums. The strike prices are matched so the position stays delta-neutral in USD terms. Premiums accrue as rising assets per share — your ESPN tokens grow in redemption value.
Card 3: What are the risks?
ESPN carries options execution risk (short calls can be exercised), smart contract risk across ETH Strategy and Derive, and liquidity risk during volatile markets. The vault is not a stablecoin — share value can decrease if hedging costs exceed premium income. Review the full risk disclosure before depositing.
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