This doc outlines the technical spec of the very first version of Lido Satellite.

The Satellite is implied to be managed by a multisig. It means

1. multisig is going to be an admin of the contract
2. multisig is going to be an owner of the contract (able to change the config and so on)

<aside> ❓ The question is do we want to go with SDK-level multisig or CosmWasm-level multisig

</aside>

The overall idea of the contract: it’s a wrapper around bridged wstETH that mints the “canonical” denomination of wstETH and vice-versa.

Instead of issuing the CW20 token, it should utilize tokenfactory.

So, we need two methods:

1. mint — receives configured bridged wstETH denom, locks it, mints canonical wstETH
2. burn — receives canonical wstETH, burns it, releases bridged wstETH denom

Both methods should have an optional funds receiver address parameter (default funds receiver is the message's sender). It’s needed for compatibility with IBC hooks.

All the swap operations are done 1-1 with no exceptions.