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Stake as less as 0.5 ETH in ETH 2.0 staking contract using “STKR”..!
Yes you heard me right, now you don’t need to have 32 ETH to become a validator on ETH 2.0. “Stkr” got your back now. Stkr is project by ANKR.
Let’s talk about “ANKR” 1st, Its a platform where you can run nodes of multiple blockchains and earn rewards. Currently Stkr has almost all the big blockchains covered, approximately 50 protocols covered (**source Ankr.com**) in total. It has 8000+ nodes already deployed for users who can’t run their own node or can’t maintain their own node. Along with proving node services, “ANKR” also offer “Developer APIs” So that developers can easily build Web3 products with instant API access to major blockchain and DeFi protocols and “Enterprise solutions” Turnkey infrastructure solutions for cryptocurrency exchanges, staking platforms, data analytics providers and more.
So that was all about “ANKR”.
What is “STKR” ?
Well Let’s understand what’s the reason for which “STKR” was build in the 1st place. Many people want to stake their ETH on ETHEREUM 2.0, but the problem is they don’t have 32 ETH for staking or they are not good at maintenance of their node and if the minimum required uptime is not met some portion of the staked ETH could be deducted, the punishment algorithm has been designed in such a way that nobody needs to maintain a 100% uptime, still people are bit afraid of it. 32 ETH, which is minimum requirement for anybody who wants to run a validator on the ETHEREUM 2.0. Many people don’t have 32 ETH and many who have 32 ETH are afraid that they won’t be able to maintain required uptime and will end up losing their holdings. Another problem is that it is not actually when ETH 2.0 will be completely deployed and working ( The estimated time is 2 years from the launch of the beacon chain also known as the Phase 0 of the ETHEREUM 2.0. ), Till then all the ETH staked will be locked and can’t be withdrawn.
So what is "STKR" ?
It is a decentralised protocol and platform that combines staking and DeFi, implementing elements from traditional staking with non-custodial management, Micropools, instant liquidity and decentralised governance. “STKR” is built by the “ANKR” team, to provide the best user experience and highest level of safety, combined with an attractive reward mechanism and instant staking liquidity through a bond-like synthetic token called aETH.
What Solutions does “STKR” provides ?
Above were the few problems related to the staking contract of ETHEREUM 2.0 Phase 0. Now let’s see how “STKR” helps to get rid of these problems.”STKR” is a ETH staking platform build by “ANKR” for all those people out there who are facing the same issues as mentioned in the above para. “STKR” provides a user to stake as low as 0.5 ETH in the staking contract if they don’t have 32 ETH. “STKR” will run your node for you if you have 32 ETH but are afraid to maintain the required uptime.”STKR” will provide aETH token [each aETH will be backed by 1 ETH] to everyone who stakes minimum 0.5 ETH.
How “STKR” does it ?
“STKR” has multiple protocols for achieving the above solutions in the best possible way.
- MicroPools : Stake from as little as 0.5 ETH and as much as 1,000 ETH, to automatically join other stakers in Micropools!
- Staking Manager : Send all of your ETH in one transaction and “STKR” will automatically allocate your funds to the best pools.
- Staking Liquidity : With aETH, you can hold or trade your staked assets at any time, without having to wait until transactions are enabled on Ethereum 2.0.
- Security : Keep your funds under your own custody, to always remain in full control of your assets.
What else is there to know before staking on ”STKR” ?
The 3 roles in the “STKR” system
Stakers can stake any amount of ETH tokens (minimum 0.5 ETH) to earn staking rewards and platform fees. The staked ETH will immediately be liquid in the form of aETH, which users can use to trade or participate in DeFi. Stakers can stake ANKR in addition to their ETH stake to increase rewards from platform fees.
Node providers will be running ETHEREUM 2.0 nodes either on their own hardware or using the”ANKR” platform, to earn from the staking rewards and platform fees.
Governors will ensure the long term sustainability of the platform. A substantial stake of “ANKR” tokens is necessary to become part of the “STKR” governance board (a governor does not necessary need to be a node provider).
How to stake ETH using “STKR” ?
You don’t need to bee an expert to stake ETH on “STKR“. It’s quite simple to stake using “STKR” just follow the following steps :–
- First you need to have a ETH wallet, “STKR” support 3 major ETH wallets which are META-MASK, TRUST WALLET and WALLET CONNECT.
- Second you need to visit this Link ——- >> stkr.io
- Click on the “Launch App” button on the top right corner of the website.
- A pop-up will appear with all the three wallets mentioned in step 2. Select your wallet. Click Connect.
- Now you are in the web 3.0 UI. There you need to click on “Start Staking”.
- Now you need to enter the amount of ETH you wish to stake. (minimum is 0.5 and maximum is 1000). Make sure you have the amount of ETH you want to stake in your wallet.
- Tick mark the “check box” and click on “Stake” button
That’s it you have successfully staked your ETH on the deposit contract.
Hope you enjoyed the blog and it helped you understand why “STKR” is launched. Please don’t forget to leave comments, we love to see what questions does our reader have.
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Thank you readers Happy trading .!!
Crypto By Ksquare (Kunal Kishore)