Staked Curve Bonds DAO tokens (stcrvBONDS) are a liquid staked, yield bearing derivative of crvBONDS DAO tokens. stcrvBONDS holders receive about 15% of Curve Bonds Protocol Revenue that is distributed to users.
stcrvBONDS token contract is a fork of Sushiswaps xSUSHI known as an xERC20. Each stcrvBONDS token is worth more units of crvBONDS over time. New stcrvBONDS tokens can be minted by staking crvBONDS tokens and stcrvBONDS tokens can be burned to release deposited crvBONDS tokens.
Curve's Stablepool "Oracle" function is able to determine the current value of stcrvBONDS token according to how many units of crvBONDS that each stcrvBONDS token holds. As a result, converting crvBONDS to stcrvBONDS and vice-versa is as easy as making a swap on Curve.
