ETH2 rewards are dependent on the total amount of ETH staked on the protocol. You can see the approximate rewards earned at each stake rate here.
Staked has two pricing options, per validator you provision:
The Deposit Contract is a smart contract and the primary mechanism to transfer funds from an ETH1 account to an ETH2 validator. It specifies who is staking (ETH1 address that makes the deposit), who is validating (validator public key), the amount of stake (minimum of 32 ETH), and who can withdraw the funds (withdrawal key pair).
The most common issue when signing a transaction through Ledger is Contract Data is turned off. Be sure to turn on Contract Data before proceeding through the transaction (to execute smart contracts with arbitrary data, you need to enable Contract Data in the Ethereum app):
There are 3 primary risks associated with ETH 2.0 staking:
Transfers between validators are disabled until at least Phase 1 (around 1-2 years). Learn more about ETH2 phases on EthHub.
Staked currently does not have a pooled offering to allow deposits of less than 32 ETH. We recommend researching RocketPool’s service which may provide a solution.
Staked has developed and open-sourced a batching contract to save our users on gas costs and deposit multiple validators with a single on-chain transaction. It enables users to deposit up to 185 validators (~6K ETH) in a single deposit, offering the convenience of signing a single transaction rather than 185 distinct transactions.
Staked’s ETH2 offering is non-custodial, meaning only you (the depositor) has access to the withdrawal address key pair required to withdraw in Phase 1 and onwards. Without this key funds cannot be withdrawn so it is extremely important to keep it safe. ETH2 specific withdrawal addresses are different from your usual ETH1 address and are based on the BLS12-381 curve.
There are currently 2 recommended methods to generating your withdrawal address:
1. Command-Line Interface (CLI)
2. Ledger Nano X (Coming soon)
1. Command-Line Interface (CLI): The eth2.0-deposit-cli tool is the official withdrawal address generation method from the Ethereum Foundation. Follow the instructions below to generate a withdrawal address.
Step 1. Installation - Download the deposit command line interface app:
Go to v1.0.0 of the Deposit-CLI at https://github.com/ethereum/eth2.0-deposit-cli/releases
Download the following files dependent on your OS:
Step 2. Decompress the file you downloaded.
*At this point, it is best practice to disconnect from any external (i.e., internet) connections and proceed with the following steps while offline*
Step 4. Create your keys and deposit data (now we are following along with the repo instructions):
Run the following command to enter the interactive CLI and generate keys from a new mnemonic:
Mac/Linux: ./deposit new-mnemonic
Step 5. Now you will be prompted the following options:
Step 6. Write down your mnemonic and re-enter it in the next screen to confirm it is stored safely. Now the terminal should provide the following sequence of messages:
Creating your keys.
Saving your keystore(s).
Creating your deposit(s).
Verifying your keystore(s).
Verifying your deposit(s).
Success! Your keys can be found at: /Users/username/Documents/Folder/.../eth2.0-deposit-cli/validator_keys
Step 7. Your ETH2 withdrawal address should be the 96 character pubkey in the deposit_data file:
Given Staked’s ETH2 validators are non-custodial (you always hold custody of the withdrawal key), it is not possible to pay via reward share.
Yes, Staked uses Coinbase Commerce to manage cryptocurrency payments. At this time, you can pay via Bitcoin, Ethereum, DAI, USDC, Litecoin, or Bitcoin Cash.
Yes, Staked uses Stripe to manage credit card payments.
ETH2 transfers are not enabled until at least Phase 1 (learn more about ETH2 phases). A One-time payment will cover your validators until Phase 1 or when transfers become available.
Monthly payments are a recurring bill, charged monthly for the number of validators you have. If using Stripe, you will be charged automatically to the card on file. If using Coinbase Commerce, you will be sent an invoice via email and must pay through an on-chain transaction every month.
Staked provides 2 methods for accessing reporting on ETH2 validators:
1. Validator Dashboard: when authenticated using a Staked account or your wallet, use this dashboard to see high level details of ALL your validators at a glance.
2. Reporting: when authenticated using a Staked account or your wallet, use the Reporting module to view a roll of up rewards across ALL of your validators, aggregated daily for ease of use. This reporting is downloadable in CSV format. For detailed reporting at the epoch level for a given validator, we recommend using Beaconscan or Beaconchain.
While Staked's validator dashboard will provide you with high level information at a glance across all of your validators, the following 2 resources are a great source for detailed information:
Staked’s ETH2 offering is non-custodial, meaning only you (the depositor) has access to the withdrawal address key pair required to withdraw in Phase 1 and onwards. Without this key funds cannot be withdrawn so it is extremely important to keep it safe.
Staked generates and stores the private material for validator keys using secure multi-party computation (MPC). When an ETH2 validator in Staked’s infrastructure is asked to sign/propose/attest to a block, MPC provides the required signatures. While retaining custody of the validator keys provides the ability to operate the validator, only the custodian of the withdrawal key can transfer funds.
In short, the slashing penalties on ETH2 are similar to the rewards gained. For example, if your validator is down for 4 hours, you would incur: 1) the opportunity cost of earning rewards during that time, and 2) be penalized for essentially that same amount. NOTE: for the first ~6 months of the beacon chain, all slashing penalties are reduced by ~1/3.
A rough approximation of offline penalties: in "normal" (non-activity leak) circumstances, a validator loses approximately 15.8% of their stake per year they are offline. That's ~1.4% for being offline for a month or ~0.3% for being offline for a week.
Receiving a penalty is not the same as being slashed: a penalty represents only a decrease in balance on the validator (e.g., due to a miscast vote within certain parameters or being offline). Slashing only occurs if a validator conducts Double Voting or Surround Voting. If more than 33% of validators ever go offline at once, this will lead to finality leaking which will incur extra penalties for offline validators. See EthHub for more detailed economics.
See this blog post by Staked’s CTO for a detailed overview.
Staked runs across multiple cloud environments. We’re currently running across AWS, Google Cloud, IBM Cloud and Digital Ocean. We use a highly available Kubernetes cluster to monitor the health of those environments and deploy containers with node software in response to network conditions.
Additionally, to preventing double-signing across environments, Staked uses Hashicorp’s Consul create a MutEx lock that ensures only one node can produce blocks at any time. If we detect issues with our running nodes, Consul re-assigns the ability to sign blocks to our new nodes and blocks any zombies.