Staking ETH2.O Enabled on Gate.io
According to recent news regarding the Ethereum upgrade, the Ethereum 2.0 (eth2) staking deposit contract has reached the minimum deposit requirement for the launch of Phase 0, scheduled to take place December 1st, 2020. Following the Phase 0 launch, ETH holders will be able to participate in PoS staking by deposing their ETH on eth2 to earn rewards.
Taking part in eth2 staking is not easy. It demands a general higher technical expertise, and requires a long staking time (estimated 1–2 years, which may vary as eth2 develops). Moreover, you must run a validator on both the eth1 chain and the eth2 Beacon Chain at the same time and maintain a stable staking status while doing so. Otherwise, your funds in staking may be charged penalties.
Due to the high barriers of entry, eth2 staking is not suitable to every user. To give all users a chance to participate in eth2 staking, Gate.io will provide a flexible eth2 staking solution to users, based on our stably running Ethereum infrastructure and maturity asset management solution.
With this solution, users can earn a staking reward while not needing to lock their ETH in eth2 for a long time or worry about eth2 penalties.
Below you can find more details about our eth2 staking solution.
1) Gate.io will list ETH2 tokens, which will be the certificate for users to participate in eth2 staking. 1 ETH2 represents 1 ETH locked in ETH2 staking. Holding ETH2 is equal to participating in eth 2 staking.
2) Users will be able to buy or sell ETH2 on USDT and ETH markets freely.
3) Gate.io will distribute the net income (staking income minus cost) from eth2 staking to ETH2 holders as eth2 staking starts.
4) The staking reward will be in the form of ETH2.O, allocated based on users’ average ETH2 holdings over a period of 14 days.
5) Currently, validators are waiting in line for the chance of staking on eth2. It may take a few days to start staking after eth2 launches (the delay may vary , depending on the length of the waiting list).
6)The yearly reward % of eth2 staking is related to the amount of ETH being staked. The yield tends to be higher at an early stage as less ETH is being staked. On the long term, the yield is expected to be stable around 5%-10%.
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