In order to support Ethereum 2.0's proof-of-stake consensus mechanism and to improve staking liquidity, OKX will launch an Ethereum 2.0 staking service on Dec. 14, 8:00 am UTC. Users will be able to stake Ether (ETH) with just one click, obtain Beacon ETH (BETH) in the ratio of 1 ETH to 1 BETH, and receive yield every day.
Advantages of participating in Ethereum 2.0 staking on OKX
1. OKX will cover all Ethereum 2.0 validator operating expenses.
2. All on-chain profits will be distributed.
3. OKX assumes the risk of any validator penalties.
4. By participating in Ethereum 2.0 staking on OKX, you may also receive additional USDT as rewards.
Ethereum 2.0 one-click staking rules
1. Staking ratio: Stake ETH to obtain BETH at the ratio of 1 ETH to 1 BETH.
2. 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%. However, this is just an estimation and the final yield is subject to change.
3. Yield distribution: Yield will be distributed every day at 3:00 am UTC, based proportionally on a user's staked funds from the previous day.
4. Minimum amount required to stake: 0.1 ETH.
5. BETH price and trading: OKX will open BETH trading once it has finished an evaluation of the staking system.
6. 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.
7. USDT rewards: Detailed USDT reward-distribution rules will be announced before the activity starts. The activity duration is from Dec. 17 to Dec. 31, 2020. Users are required to complete level 2 of identity verification to receive the reward.
USDT rewards distribution: 100,000 USDT in rewards will be split according to the percentage of ETH staked by a single user compared to the total amount of ETH staked by all users on OKX. USDT rewards will be paid out to the winners on Jan. 6 (HKT).
How to participate
Web: Click on Finance from the top navigation bar, select Earn to enter the activity page and stake ETH.
App: Tap Earn/DeFi on the homepage and choose to stake ETH.About BETH (Beacon ETH)
In order to support ETH 2.0’s proof-of-stake mechanism and improve staking liquidity, OKX will issue a token that is anchored to the on-chain staked assets for participants on OKX. BETH will be the only proof that users have staked ETH, and can later redeem ETH at a ratio of 1:1.
Dec. 14 2020