The launch of Ethereum 2.0 is getting closer and is driving the crypto market crazy. StakeWise makes it easy and convenient to stake Ethereum. Investors are also protected because their coins’ value will be fully covered. The big question is how an ETH holder can stake their Ether and get them back safe. StakeWise, which helps ETH holders create low-risk returns, has stepped in to the market. StakeWise offers a solution that is suitable for staking.
About StakeWise
StakeWise, an inclusive smart contract-based platform that provides a range of ETH 2.0 services, is a smart contract-based platform. The Proof-of-Stake consensus model is used to build the platform, which allows token staking and simple reward structures.
StakeWise, a company based in Estonia has been undergoing beta testing for almost seven months. The platform announced in its March 2021 update that it had launched a successful fundraising campaign for $2 million USD. This was even before the official launch of its mainnet. These funds were raised through a private round of fundraising and are evidence that the platform is receiving interest from investors.
StakeWise made clear in its public statements that it addressed its services, which include a custodial pool and non-custodial solo stake-staking.
StakeWise is a DAO (Decentralized Autonomous Organization), which uses a governance token $SWISE. It ensures transparency and gives participants as much voting power as possible.
Staking Solutions
StakeWise was one of the first to offer ETH2.0 staking solutions that can be redeemed and preserved. ETH2.0 upgrades are still in progress. This means staked ETH can’t be traded back until the shardchain deployment is complete.
StakeWise has created a protocol that tokenizes users ETH deposits into Ethereum2 and sends them a reward token called rETH2. These tokens can be used to represent ETH in DeFi transactions and are maintained at a 1:1 ratio to ETH.
The platform also announced its native token $SWISE, which grants users the ability to make governance decisions.
StakeWisers can vote for any major matters on the chain with $SWISE. This includes commission rates and how node operators work. The token is also used to share stakers’ profits.
Users who keep $SWISE can also receive proportional rewards based on their ETH deposit amount.
StakeWise offers higher returns for early stakes. The pool will reward the first 25,000 Ethereum staked. This includes 2% of the $SWISE supply. Investors have already seized a third of the $SWISE total cap.
Options for Stakes
StakeWise brings the market a staking pool as well as a self-staking mode. Members can stake their ETH in the StakeWise pool by using the ETH 2.0 smartcontract. The tokenization of the deposits will be done into sETH2 tokens. After that, the reward token (rETH2) will be generated for each ETH earned from the pool.
To redeem ETH, either sETHs nor rETHs may be burned at a ratio of 1:1. Reward tokens, which are earned every 24 hours, are distributed to all pool members based upon their stake percentage.
StakeWise pool is free, with the exception of a 10% commission cut that is held back to compensate for system development. There is no minimum amount, and users can deposit as much ETH as they like.
To ensure that transactions are safe and transparent, each time new ETHs get staked in the pool contract, a validator client key is generated by the system and sent directly to the user’s cloud storage.
The private key allows the owner to access their tokens from any connected device with ease. It allows for unlimited control over staked tokens and consolidates protection against errors and malicious acts.
Solo staking allows users to pay $10 USD per month to become a validator on StakeWise. Solo stakers must deposit 32 ETH and then can assign their own withdrawal credentials in order to manage their funds.
StakeWise will store keys of users on a cloud service in order to prevent system malfunctions. Stakers can be sure that they will be able to access the internet at all times and can touch their keys whenever they wish. Solo stakers pay only the $10 USD flat fee. There are no additional fees.
They can also request a withdrawal at their predetermined address at any time using their own withdrawal key.
Solutions
Trade and Management Solutions
StakeWise is a profitable platform, but the founding team also made it a fun destination for crypto holders. The service combines the best features of ETH 2.0 such as scalability, high speed, and friendly interface by paying a lot attention to user experience. Real-time tracking is available to help users keep an eye on their deposits, as well as track their performance and reward status second-by-second.
StakeWise also allows stakers the ability to integrate their registries via API with external applications. This makes it much easier to stake, as users can make and manage remote deposits without any problems.
StakeWise is a great platform to create returns.
Thought Leadership
StakeWise is led by Kirill Kutakov and Dmitri Tusak, two co-founders.
Dmitri, a senior developer who loves blockchain technology. Kirill has a solid background within the financial asset management industry.
The two young men have worked together to make StakeWise a friendly and effective environment for ERC-20 transactions.
Dmitri, one of the founders of StakeWise, spoke to the media and stated that their vision of making the most of tokenomics, DAO governance, and DAO governance was to create a community-oriented crypto platform.
The platform is not only shifting voting power to users but StakeWise is also optimistic about bringing higher yielding ratios for stakers and securing its deposits.
StakeWise is available on GitHub, Twitter and Telegram with regular updates on its progress. StakeWise may be a good option for those who wish to join early ETH staking and get additional token rewards.