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# Value Accruing

haSUI is a value-accruing (or reward-accruing) liquid staking token. The accumulated staking rewards are appreciated onto the value of haSUI. This means that following each Sui epoch, its valuation undergoes a recalculation based on the staking rewards earned through the Haedal Staking Pool.

#### **The value of haSUI is calculated as follows:**

$$
haSUIConversionRate=\[totalStakedSUI+totalStakingRewards\*(1-CommissionPercentage)-totalUnstakedSUI]/haSUIMinted)
$$

Where:

* haSUIConversionRate means the native conversion rate between haSUI and SUI through Haedal's liquid staking system
* totalStakedSUI is the amount of SUI staked by users through Haedal.
* total\_StakingRewards is the accumulated staking rewards earned from Sui nodes.
* totalUnstakedSUI is the amount of SUI users have unstaked through the protocol.
* CommissionPercentage is the liquid staking protocol fee, which is 6% of total rewards earned from validators.
* haSUIMinted is the current supply of haSUI tokens.

Therefore, the exchange rate of haSUI versus SUI will increase as time goes by because of the staking rewards accrued.

#### **haSUI's market price**

As described above, haSUI follows a value accruing model based on the liquid staking mechanism. Its conversion rate relative to SUI is expected to continuously increase over time. However, in an open secondary market like DEX or CEX, the market price of haSUI mainly depends on user behavior and overall market conditions.

Since users can always unstake haSUI back to native SUI tokens via Haedal’s liquid staking infra, haSUI has an inherent exchange rate support. If the price of haSUI price on secondary markets deviates significantly, traders and arbitragers will naturally engage in price correction, aligning the market price with the intrinsic value of haSUI.


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