# How to Deposit

*LETH* tokens are minted upon *deposit* and *burned* when redeemed. 

During Phase 1, loopedETH only accepts lsETH deposits. In future phases, ETH, wstETH and USDC will also be accepted as collateral.

Deposited assets are staked and deployed into "AutoLoop", loopedETH's automated looping strategy.

LETH can be minted at <https://www.stakingrewards.com/stake-app?input=ethereum-2-0>

<figure><img src="https://2801512760-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F6I9JuhYPScdQLXD3FSt2%2Fuploads%2F1ZfSaUkQ5UcTKfdCA7zw%2FWhitelisted.png?alt=media&#x26;token=556b243a-4050-4d13-96b8-3c0f034debea" alt=""><figcaption></figcaption></figure>