# LIP-11: Add a transfer shares function for stETH **URL:** \ **Category:** The LIP - Lido Improvement Proposal - Process\ **Created:** [January 27, 2022, 1:29pm UTC](https://research.lido.fi/t/lip-11-add-a-transfer-shares-function-for-steth/1622 "2022-01-27T13:29:18Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![arwer13](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/arwer13/32/798_2.png) [@arwer13](https://research.lido.fi/u/arwer13)\ **Post date:** [January 27, 2022, 1:29pm UTC](https://research.lido.fi/t/lip-11-add-a-transfer-shares-function-for-steth/1622/1 "2022-01-27T13:29:18Z")
We propose to add `transferShares` function into the `stETH` contract which accepts shares amount as input and performs shares movement from one account to another. We also propose to add event `TransferShares` which must be emitted along with `Transfer` event. We propose that calling `transferShares(recipient, sharesAmt)` should lead to exactly the same outcome as calling `transfer(recipient, sharesAmt * sharePrice)`. Including that both `transferShares` and `transfer` should emit `TransferShares` and `Transfer` events. The only difference being the measurement unit of the input amount. Full specification and pull request with contracts changes can be found in [lido-improvement-proposals repository](https://github.com/lidofinance/lido-improvement-proposals/blob/develop/LIPS/lip-11.md). ## Motivation `stETH` is a [rebasing token](https://docs.lido.fi/contracts/lido#rebasing). Usually, we transfer `stETH` using ERC-20 `transfer` and `transferFrom` functions which accept as input amount of `stETH`, not the amount of the underlying shares. Sometimes we’d better operate with shares directly to avoid possible rounding issues (the first clear example is [LIP-6 proposal](https://github.com/lidofinance/lido-improvement-proposals/blob/develop/LIPS/lip-6.md), see `recoverExcessStETH`). Rounding issues usually could appear after a token rebase. ## Backward compatibility We preserve the existing `Transfer` event signature cause it’s defined by ERC-20. That’s why we introduce the new `TransferShares` event instead of adding another arg for the existing `Transfer` event. ## Gas price effects Emitting the `TransferShares` event costs approximately 1900 additional gas, depending on the execution context. ### Transfer of stETH An addition of emitting the `TransferShares` event increases the cost of every stETH transfer (call to Lido contract’s `transfer(...)`) by ~3.6% (1967 gas). ### Submitting ETH to Lido contract Gas price of submitting ETH for minting stETH is also affected because on minting we need to emit `TransferShares(address(0), ...)` as well as `Transfer(address(0), ...)` event. Slight 1891 gas (~2.2%) increase in costs for every call to the Lido contract’s `submit(...)` function. ### Handling LidoOracle report Call to LidoOracle’s `reportBeacon` which leads to consensus will emit `2 + N` `TransferShares` events, where `N` is the amount of Node Operators stored in the registry (14 at the moment). Thus, cost of calling `reportBeacon` will increase by ~30000 gas which is ~6%. The cost is paid approximately every day on a beacon chain state report by the Oracle who reports by calling `reportBeacon` “the last”. It happens to be [0x007DE4a5F7bc37E2F26c0cb2E8A95006EE9B89b5](https://etherscan.io/address/0x007de4a5f7bc37e2f26c0cb2e8a95006ee9b89b5) these days. ## References - [full LIP-11 specification](https://github.com/lidofinance/lido-improvement-proposals/blob/develop/LIPS/lip-11.md) - [proposed changes to Lido contracts](https://github.com/lidofinance/lido-dao/pull/374) - [In-protocol coverage application mechanism proposal (LIP-6)](https://github.com/lidofinance/lido-improvement-proposals/blob/develop/LIPS/lip-6.md), see `recoverExcessStETH`) - [ERC-20 token standard](https://ethereum.org/en/developers/docs/standards/tokens/erc-20/) - [About rebasing token](https://docs.lido.fi/contracts/lido#rebasing) ---
**Author:** ![Tang10](https://avatars.discourse-cdn.com/v4/letter/t/f19dbf/32.png) [@Tang10](https://research.lido.fi/u/Tang10)\ **Post date:** [March 24, 2023, 2:35pm UTC](https://research.lido.fi/t/lip-11-add-a-transfer-shares-function-for-steth/1622/2 "2023-03-24T14:35:59Z")
hi @arwer13 is there a way to transfer tokens that were incorrectly sent to stETH contract address? I’m looking for help. ---
**Author:** ![kadmil](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/kadmil/32/1958_2.png) [@kadmil](https://research.lido.fi/u/kadmil)\ **Post date:** [March 26, 2023, 11:35pm UTC](https://research.lido.fi/t/lip-11-add-a-transfer-shares-function-for-steth/1622/3 "2023-03-26T23:35:46Z")
Sorry, there’s no such capability.