> For the complete documentation index, see [llms.txt](https://docs.leather.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.leather.io/stacking-and-sbtc-reference/liquid-stacking-conditions.md).

# Liquid staking conditions

What you accept when you convert STX into a liquid staking token.

You convert STX on the provider's website, under the provider's terms. Read them before you convert.

## Your STX moves to the provider

The provider's contract holds your STX while you hold the liquid token. Leather cannot reverse the transaction.

## Redemption runs through the provider

To get STX back, you redeem the token through the same provider. The provider sets when and how redemption works, and its fees.

## The token price can differ from STX

On a market, a liquid staking token can trade above or below the STX it represents.

## You depend on the provider

Rewards, redemption and the token itself depend on the provider's contracts and on its continued operation.