As the launch of the Ethereum 2.0 upgrade is coming closer, it is driving the crypto world crazier than ever. With StakeWise, staking ETH is simple and convenient, and investors are protected as their coins’ value is fully covered.
The biggest question is, how an ETH holder can stake his Ether and get them back safe and sound. In that context, StakeWise has stepped into the market, helping ETH holders to create low-risk returns. StakeWise has a solution that makes sense for staking!
StakeWise is an inclusive smart contract-based platform, which works to provide a basket of ETH 2.0 services. The platform is built on the Proof-of-Stake consensus model, allowing easy token staking and a simple reward structure.
Headquartered in Estonia, StakeWise has been undergoing the beta test for nearly seven months.
In its latest update in March 2021, the platform announced a successful fundraising campaign of $2 million USD, even before its official mainnet launch. The funds were raised in a private round fundraising event and are evidence of the interest the platform is getting from investors.
In its public statements, StakeWise clearly addressed its services, including a custodial staking pool as well as non-custodial solo-staking.
StakeWise is assembled as a DAO (Decentralized Autonomous Organization) with a governance token $SWISE. It guarantees complete transparency and gives as much voting power to participants.
A Great ETH Staking Solution
StakeWise is among the first providers to offer ETH2.0 staking solutions that are redeemable and preservable. Currently, the ETH2.0 upgrade is still taking place, meaning staked ETH cannot be exchanged back for trading until later this year when the shard chain deployment has been done.
To solve that headache, StakeWise brings in a protocol that tokenizes users’ ETH deposits into sETH2 and sends them a reward token known as rETH2. Those tokens are perfectly maintained at the ratio 1:1 to ETH, and can represent ETH in DeFi transactions.
Furthermore, the platform has announced its native token $SWISE that grants the governance decisions into the hands of users.
With $SWISE, StakeWisers are able to vote for any big matters on the chain, from commission rates to how node operators function. The token also plays as the system currency by which staking profits are shared with stakers.
In addition, users holding on to $SWISE can get proportional rewards in accordance with their ETH deposit amount.
Additionally, StakeWise is offering higher return rates for early staking. Particularly, 2% of the $SWISE supply will be rewarded to the first 25,000 ETH staked into the pool. As a result, so far, one-third of the total $SWISE cap has already been seized by investors.
Various Staking Options
StakeWise is bringing the market a staking pool and self-staking mode. When members stake their ETH into StakeWise pool, the ETH 2.0 smart contract will tokenize the deposits into sETH2 tokens, then generate an equal amount of the reward token (rETH2) for every earned ETH from the pool.
Either sETHs or rETHs can be burnt to redeem ETH at the ratio 1:1.
Reward tokens are accrued every 24 hours and distributed to all pool members based on their staking proportion.
Except for a 10% commission cut which is held off to compensate for the system development and maintenance, StakeWise pool is completely free. Users can deposit any amount of ETH as they wish, there is no minimum limit about that.
In order to maintain the safety and transparency of transactions, every time new ETHs are staked in the pool contract, a respective validator client key is created by the system and sent to a user’s cloud storage.
With that private key, its owner can access their tokens anytime from connected devices. It unleashes boundless control over staked tokens as well as consolidates protection against any errors or malicious acts.
In solo staking mode, users will pay $10 USD per month in exchange to be a validator on StakeWise. Solo stakers are required to deposit no less than 32 ETH, then they can assign their own withdrawal credentials to manage their funds.
To prevent any system malfunction, StakeWise will keep users’ keys on a cloud service.
Thanks to that, stakers can rest assured that they can go online 100% of the time and touch their keys whenever they want. Other than the $10 USD flat rate, solo stakers are charged with no extra fees.
They can also request a withdrawal to their predetermined address anytime, using their own withdrawal key.
Trade and Management Solutions
Besides all the profitability aspects, the founding team has made StakeWise an enjoyable destination for any crypto holders.
By paying a lot of attention to user experience, the service combines admirable advancements of ETH 2.0, such as scalability and high speed, in a friendly interface.
Users are offered real-time tracking to keep a close eye on their deposits and stay tuned about their performance and rewards second-by-second.
Moreover, StakeWise allows stakers to integrate their registries with external applications via API. Thanks to that, staking becomes substantially easier, since users can make and control remote deposits without any issues.
There will be a lot of money to be made in ETH staking, and StakeWise has created a good platform for creating returns.
StakeWise is composed of an enthusiastic and experienced team, leading by the two co-founders, Dmitri Tsumak and Kirill Kutakov.
Dmitri is a senior developer that loves blockchain technology, Kirill has built a solid background in the financial asset management sector.
Working together, the two young men have devoted all their hearts and mind to turning StakeWise into a friendly yet effective environment for ERC-20 transactions.
Speaking to the media, one of the two StakeWise founders, Dmitri, claimed their vision of making the best use of tokenomics and DAO governance to shape a thoroughly community-oriented crypto platform.
Not only is the platform shifting voting power to users, but StakeWise is also confident about bringing higher-yielding ratios for stakers, and ensuring security for its deposits.
The StakeWise social community is present on GitHub, Twitter, and Telegram, with timely updates on its latest progress. For those who want to join an early ETH staking and receive extra token rewards, StakeWise might be a good choice.