In order to support Ethereum 2.0's proof-of-stake consensus mechanism and to improve staking liquidity, OKEx will launch an Ethereum 2.0 staking service before Dec. 17. Users will be able to stake Ether (ETH) with just one click, receive BETH at the ratio of 1 ETH to 1 BETH, and receive yield every day.
Advantages of participating in Ethereum 2.0 staking on OKEx
- OKEx will cover all Ethereum 2.0 validator operating expenses.
- All on-chain profits will be distributed.
- OKEx assumes the risk of any validator penalties.
- By participating in Ethereum 2.0 staking on OKEx, you may also receive additional USDT as rewards.
Ethereum 2.0 one-click staking rules
- Staking ratio: Stake ETH to obtain BETH at the ratio of 1 ETH to 1 BETH.
- Yield calculation: Yield will be calculated based on the number of staked tokens on-chain and lock up times, and will be issued in BETH. It is estimated that the annualized rate of return is between 6% and 20% — this is just an estimation and the final yield is subject to change.
- Yield distribution: Yield will be distributed every day at 3:00 am UTC, based proportionally on the user's staked funds from the previous day.
- Minimum amount required to stake: 0.1 ETH.
- BETH price and trading: OKEx will open BETH trading once it has finished an evaluation of the staking system.
- Staking period: According to the rules of Ethereum 2.0, your staked assets will be locked in and cannot be redeemed until Ethereum 2.0 Phase 1.5, which is estimated to be launched in approximately two years.
- USDT rewards: The detailed USDT reward-distribution rule will be announced via another announcement before the activity starts. The activity duration is from Dec. 17 to Dec. 31, 2020, and the users are required to pass KYC2 identity verification to receive the reward.
How to participate
- Web: Click Finance on the top navigation bar, then select Earn to enter the activity page and stake ETH.
- App: Tap Earn/DeFi on the homepage, then stake ETH.
About BETH (Beacon ETH)
In order to support ETH 2.0’s proof-of-stake mechanism and improve the liquidity of staking, OKEx will issue a token that is anchored to the on-chain staked asset for participants on OKEx. BETH will be the only proof that users can redeem ETH at a ratio of 1:1.
Dec. 3, 2020