Liquid Staked ETH: Maximize Yield on ETH2.0

With the surge in DeFi and the outrageous yields that come with it, the interest in ETH2.0 and staking rewards have only been growing. However, to benefit from this, there are also concerns of high gas fees, illiquidity, good technical knowledge, and hardware requirements. This is how StakeHound’s Liquid Staked ETH (stETH) comes into play.

Earn Rewards For Staking ETH But Risk Liquidity 

Did you know you can actually earn rewards like annual yields of about 7-8% on your Ether (ETH) while staking with ETH 2.0? This makes staking ETH a great way to utilize dormant assets.

However, to enjoy such a high percentage of staking rewards, potential stakers are required to lock up a minimum amount of 32 ETH (currently valued at around US$67,040) for a period upwards of 2 years while setting up and maintaining a validator node. In other words, not only do you have to fulfill a minimum stake of ETH that is locked up and hence illiquid, but you will also need to perform the duties as an Ethereum validator or risk their rewards. 

Liquid Staking ETH 

To simplify staking with ETH 2.0 and address the issue of illiquidity, an alternative staking platform like StakeHound enables liquid staking for ETH stakers, giving you the benefits of both staking and DeFi. 

This is achieved via wrapped tokens with a 1:1 representation of your staked ETH. The platform stakes the underlying asset for the user and sends the equivalent wrapped tokens to the user to use for participation in other DeFi activities. This way, the user still receives ETH 2.0 staking rewards while benefiting elsewhere from the liquid assets. 

stETH — StakeHound’s Wrapped ETH Token 

StakeHound allows for liquid staking of ETH by wrapping the tokens into stETH, an ERC-20 token which is a 1:1 representation of staking 1 ETH.

You can be assured to know that StakeHound is a Swiss company that adheres to the robust Swiss legal framework for digital assets and follows strict compliance procedures. Our platform has partnered with top military-grade security custody solutions such as Fireblocks and Copper to secure deposited assets and our smart contract has also been audited by Quantstamp.

When you deposit your ETH with us, you are issued with stETH in return. We then stake the deposited ETH on your behalf through the custody partner and redistribute the staking rewards to stETH holders directly into your accounts. This is done through the mechanism of rebasing, which automatically increases the balances of stETH holders, whether the tokens are sitting in their MetaMask wallets or in liquidity pools. 

You can also buy stETH on the secondary market via a supported decentralized exchange (DEX) like SushiSwap to enjoy stETH staking rewards

Through stETH, you can now freely use your staked tokens to participate in DeFi, collateralize your assets, or trade it for other tokens. Our users have full control over their stETH, and you do not have to worry about fulfilling a minimum staking amount, running a node, or any lock-up period as stETH can be withdrawn or sold at any time on supported exchanges. 

Liquid staking with StakeHound’s stETH makes it significantly more accessible and easier for anyone to reap the same rewards of staking as an Ethereum validator with little capital and technical knowledge of staking with ETH 2.0. 

This essentially frees you from the ETH 2.0 dilemma ‘to stake or not to stake’ because you get all the benefits instead with less hassle involved. Another issue in DeFi right now is the high ETH gas fees incurred which we addressed in a video on how you could potentially save on ETH gas fees.

EXTRA Rewards For Staking With StakeHound

In addition to earning staking rewards via liquid staking with us, you can also benefit from your staked tokens through liquidity mining, otherwise known as yield farming. 

In liquidity mining, staked tokens are provided as liquidity to DEXs, who reward liquidity providers (LPs) for contributing capital to their platforms’ token swap liquidity pools. Whenever a trade occurs on the DEX, a trading fee is distributed proportionally to all LPs in the pool at the moment of the trade. 

DEXs also often offer additional rewards to further incentivize their communities for participating in their platform operations or governance. 

By holding onto stETH, users are given additional rewards as liquidity providers on top of your staking rewards. For example, for a ETH-stETH pair, you earn: 

  • stETH staking rewards at 7.7% APR 
  • Trading fees of pool share at 0.25% per trade (for liquidity providers on SushiSwap)
  • Additional governance token rewards at 34.58% (1y) (from SushiSwap’s liquidity mining incentivization program, Onsen) 

StakeHound also works with other staked tokens to form multi-staked token pools that bring double the staking rewards for our users. 

For example, in a stETH-stFIRO pair, you will earn: 

  • stETH staking rewards at 7.7% APR 
  • stFIRO staking rewards at 10.87% APR
  • Trading fees of pool share at 0.25% per trade (for liquidity providers on SushiSwap)
  • Additional governance token rewards at 13.75% (1y) (from SushiSwap’s liquidity mining incentivization program, Onsen) 

Note that staking rewards may vary, and the numbers illustrated above are based on rates at point of writing.

 

Bonus: $6,000 GIVEAWAY

We just launched a $6,000 giveaway in stETH and DIVI for people who would like to explore using stDIVI on testnet. All you have to do is to follow the steps to get stETH, stDIVI, provide liquidity, and follow the remaining steps to post on Twitter. 10 lucky winners will be chosen at random to receive stETH and DIVI on the mainnet.

While no actual funds are required in order to participate in this contest, actual stETH and DIVI will be given out as prizes. This means you get to earn stETH without going through the process of acquiring it on the mainnet.

All in all, liquid staking with StakeHound via stETH is a very useful way to enjoy the high staking reward yields without the limitations of staking on ETH 2.0. What also sets StakeHound apart from other alternative staking platforms is that users can easily enjoy the additional rewards of liquidity mining as well as from multi-staked token pools, giving users even more value out of holding their existing cryptocurrency assets.

Have some questions? Join the stETH Discord Community or buy stETH on Sushi now!

StakeHound in Q1 2021: More Partnerships, Product Launches

It’s been 3 months and counting into 2021 – how quickly time passes! Launching slightly less than a year ago with a lean team, we set out on a mission to create more flexibility and accessibility in benefiting from staking rewards. When we began, the Total Value Locked (TVL) in staking (Ethereum) was at US$20 billion. In less than a year, we’re now looking at a whopping US$51 billion in TVL just on Ethereum alone. If we look at the entire crypto ecosystem, it is at about US$152 billion TVL in staking protocols, including Ethereum.

The team has gone on to onboard 2 more new members and is in the midst of growing, to ensure that we continue to fulfill the goals we set out to achieve. Very importantly, we want to be part of the community to provide more educational content and resources for those who are new to liquid staking.

New stTokens Added

In three months, we launched three new stakedTokens: stZEN, stDASH, and stXYM. Our partnerships with these protocols mean a lot to us, as we continue to serve their communities and help each of them through the journey of entering Ethereum’s DeFi ecosystem.

 

Horizen: stZEN

Horizen, a technology platform that enables businesses and developers to create their own public or private blockchains, has launched stZEN with StakeHound that allows ZEN holders and anyone to stake on ZEN via the ZenNodes without meeting its requirements. To earn ZEN node staking rewards for Secure Nodes and Super Nodes would require 42 ZEN and above on top of the hardware requirements.

With stZEN, anyone can purchase it off SushiSwap with no minimum while still gaining the upsides of staking ZEN – staking and Onsen rewards (SUSHI tokens).

Highlights:

 

DASH: stDASH

DASH, a leading decentralized payment solution accepted at merchants globally, accessible via 1,600+ ATMs and 100+ exchanges worldwide, has partnered with StakeHound to launch stDASH. Although announced in October last year, stDASH is finally live on SushiSwap. Earning masternode staking rewards through DASH directly requires a minimum of 1,000 DASH (approx US$264,000+). By working with StakeHound, anyone can benefit from staking DASH without a lock-up or a high minimum stake, with added flexibility to explore the DeFi ecosystem on Ethereum.

Similar to the rest of stTokens, stDASH allows users to hold and earn staking rewards easily as no additional action besides acquisition is required. Even sitting in SushiSwap liquidity pools will entitle holders to earn the rewards every 9 days, as according to DASH’s masternode reward distribution frequency. The difference here is that the stDASH rewards will be automatically updated into each holder’s wallets with no additional transactions.

Highlights:

 

NEM / Symbol: stXYM

After 4 years, NEM Group has launched the Symbol network with the Symbol token (XYM). The Symbol network will continue to run in tandem with NEM N1S1, with a difference in interoperability especially so for enterprises. We already have stXEM which is the ERC-20 representation of staking XEM, and to celebrate our continuing partnership, we have also launched stXYM. Users can now view their stXYM balances on their wallets. The staking feature on stXYM will be updated soon.

 

More Rewards with SUSHI Listings and Yield Farming

Forging a closer partnership with Sushi, we’ve listed most of our stTokens on Sushi along with bonus Onsen farms that reward with SUSHI (governance) tokens. Liquidity providers can earn additional rewards in SUSHI, besides staking rewards and liquidity provision fees. To help the staking community with navigating Sushi, we’ve also created step-by-step guides for different stTokens.

 

Current Onsen pools:

  • WETH-stETH at 32.93% APY
  • stFIRO-stETH at 14.02% APY
  • stZEN-stETH at 7.14% APY

View all Onsen pools here and search for “stETH”. Join stETH Discord Community.

Resources:

 

What’s Next

Keeping up with the momentum, we’re working on more partnerships – that also means more stakedTokens will be launched in the coming weeks (and months). Based on what we’ve already announced, that includes Divi Project whose community has been really excited for stDIVI to be live on the Ethereum mainnet. Divi has committed to making crypto accessible and easy for the masses and this is aligned with us – specifically our direction in enabling flexibility while making the best of staking, fetching more yield for every user.

Albert Castellana, co-founder and CEO of StakeHound, featured on Live at Five by Divi.

Our integration on Radix is yet another important mention that is pivotal for us in creating more value for the liquid staking community. Radix has always prioritized interoperability and the ability to scale in DeFi, which is what we are doing with the amalgamation of two different but equally crucial ecosystems of crypto.

Aside from these valued partnerships, we have also lined up with new product features, more stakedToken launches that we will be announcing in the coming weeks. Don’t miss out on our upcoming launches and incentives – follow us on Twitter and join us on Telegram or Discord!

Try stDIVI on Testnet and Win $6,000 in DIVI and stETH!

To celebrate stDIVI launching on the testnet and help prepare you with the mainnet launch, we have worked with Divi to let some of you lucky ones walk away with DIVI and stETH!

A bit about the testnet

This testnet is a great way for our users to become familiar with the process of buying stDivi, and interacting with liquidity pools, in a risk-free way. It’s important to remember that although the steps will be similar for the real process, addresses will be different. 

Here’s how to enter: 

  1. Follow Divi on Twitter and StakeHound on Twitter
  2. Join discord https://discord.gg/EzTUmdNVzu
  3. RT or quote the competition tweet
  4. Read the testnet guide and follow the steps through to get stDivi.
  5. Read the testnet guide and follow the steps through to get stETH and provide liquidity in the stDIVI/stETH pool.
  6. Once you’ve completed the steps, take a screenshot of your stDIVI/stETH position from within the SushiSwap “Pool” option.
  7. Post the screenshot on Twitter and tag @DiviProject, @stakedTokens and use the hashtags #stDIVI and #LiquidStaking
  8. (Contest Participation Form) Submit your (1) tweet URL, (2) DIVI wallet address, and (3) ERC-20 mainnet wallet address (MetaMask preferred)*.
  9. Contest ends 30th April, 23:59. Winners will be announced within two weeks after the contest ends.

*Addresses cannot be changed after submission. Winners will have tokens delivered to these indicated wallet addresses.

How to get stDivi

Here’s a quick recap of the testnet guide above. We suggest following the in-depth guide carefully, especially if you’re new to DeFi!

  1. Head to StakeHound.com and click on ‘Try stDivi™ Today’.
  2. Download Metamask. 
  3. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.
  4. Request ETH from a faucet. 
  5. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.
  6. Head to SushiSwap for the stDivi testnet
  7. Now, you can use the ETH you have received from the faucet to swap for stDivi.
  8. Add stDivi (testnet) tokens to your Metamask wallet. You may click on ‘Add stDivi to Metamask’ or select ‘Add Token’ directly from the Metamask extension.
  9. You will now see that the Metamask wallet holds the number of stDivi you have swapped for. 

How to get stETH

In a similar fashion above, get stETH on the testnet. You may also refer to this guide.

  1. Download Metamask. 
  2. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.
  3. Request ETH from a faucet. 
  4. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.
  5. Head to SushiSwap for the stETH testnet
  6. Now, you can use the ETH you have received from the faucet to swap for stETH.
  7. Add stETH (testnet) tokens to your Metamask wallet. You may click on ‘Add stDivi to Metamask’ or select ‘Add Token’ directly from the Metamask extension.
  8. You will now see that the Metamask wallet holds the number of stETH you have swapped for. 

How to provide liquidity to stDIVI-stETH pool

In a similar fashion above, get stETH on the testnet

  1. Head to the stDIVI-stETH Pair on Sushi
  2. Determine the amount you would like to contribute to the pool
  3. Proceed to add liquidity

Prizes

10 winners will each receive stETH and DIVI in the amount of $600 each.

Should you have any questions on the contest, feel free to reach out to us via Discord or Telegram! Best of luck!

Finding your LP

With Sushi’s user interface update, users can find your LPs to screenshot, with these steps:

1. Connect Metamask on app.sushi.com
2. Change to Ropsten network
3. Click on ‘Pool’ (top left)
4. Click on ‘Import It’ (bottom)
5. Look for stETH and stDIVI with their testnet contract addresses.

stETH: 0x09A33bE88094268360b9e340efD3657bBf351AA6
stDIVI: 0xD382dAFeE67e52e5BE581120730F63d97bF313BF

How to Provide Liquidity to stETH-stDIVI on SushiSwap [testnet]

This is a continuation from the first stDivi testnet guide.

NOTE: The stDivi testnet is an emulation for users to familiarise themselves with the process of acquiring stDivi and providing liquidity to the pool without using real cryptocurrencies. Please note that while the steps will be the same when stDivi is live on the mainnet, the mainnet Contract Address and Link to SushiSwap Pair will be different from this guide. 

Before you begin with this guide, you would have already created a Metamask wallet and acquired some stDIVI. You may follow the steps below for clarity. If you already have stETH, skip the first half of this guide and proceed to ‘Providing liquidity’.

Getting stETH

You may follow through the first half of this guide to get stETH, or simply refer to the stDIVI testnet guide but change stDIVI details to:

1. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.

 

3. Request for any amount of ETH from faucets [https://faucet.dimensions.network/, https://faucet.metamask.io/https://faucet.dimensions.network/]. Input your wallet address. You can find your wallet address in the Metamask extension. Click on it and click on the Account name to copy your wallet address to clipboard. Paste it in the field and click on ‘Send Ropsten ETH’.

 

4. Once you are done, it will reflect a transaction hash. Click on it to be taken to Etherscan which will reflect the status of the rETH transaction. Please note that you might have to wait up to 2 minutes for the transaction to be successful. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.

 

5. Head to SushiSwap to get some stETH: https://exchange.sushi.com/swap?inputCurrency=ETH&outputCurrency=0x09A33bE88094268360b9e340efD3657bBf351AA6. Connect your MetaMask wallet to SushiSwap (top right in the navigation bar). Afterwards, check ‘I understand’ in the warning message and click ‘Import’. If stETH is not showing up, double check your MetaMask account through the browser extension if your network is on ‘Ropsten Test Network’ instead of the mainnet.  

 

6. Now, you can use the ETH you have received from the faucet to swap for stETH. If there is no warning message, you just need to click on ‘Confirm Swap’ to proceed. You may refer to this guide for the exact steps toward completion of acquiring stETH, but replace ‘stDIVI’ with ‘stETH’.

 

Providing Liquidity

Now that you own stDIVI and stETH in your wallet, head to the Sushiswap pair. Key in the amount you would like to contribute to the pool in either of the fields. The other will be automatically populated based on the pairing. After this, you would need to approve spend of stDIVI and stETH twice on both Sushi and MetaMask, to confirm your transaction. With this, you have successfully added liquidity to the stDIVI-stETH pair on the testnet!

 

 

Have questions? Join the stDivi Discord community and let us assist.

How to Yield Farm with stFIRO

To start yield farming with stFIRO, you will need equal values of stETH and stFIRO. If you haven’t gotten your stETH and stFiro, here are some resources for you to follow:
1. Get stETH
2. Get stFIRO through StakeHound (min. 1,000 CHF) or directly on SushiSwap (no min.).

Why You Should Yield Farm on a Multi-staked Token Pool

The key benefit of providing liquidity to a multi-staked Token pool is the staking rewards that come with BOTH tokens = stETH staking rewards 7.87% APY + stFIRO (Masternode) staking rewards 10.55% APR, as of writing. On top of this, you can also earn additional fees by providing liquidity to a pool at 0.25% fees on all trades proportionate to your pool share, and by staking its Liquidity Provider (LP) token on the stFIRO-stETH Onsen Pool that was at 800% APY at its highest on 28th March (currently 156% APY, still pretty high).

In total, we’re looking at earning:

  1. Staking Rewards: 7.87% APY + 10.55% APR
  2. Trading Fees: 0.25% fee on all trades
  3. SUSHI Rewards: 156% APY

*Please note that rewards are not fixed and depend on the market activities. The numbers are as of writing.

Before you begin, you will need:

1. stETH and stFIRO at equal values
2. MetaMask Wallet
3. Some ETH for gas fees

Step-by-step Guide:

1. Head to the stFIRO-stETH Pair on app.sushi.com or through this link directly.

 

2. Connect your MetaMask wallet (top left on the app.sushi.com UI). Approve by hitting “Next” and then “Connect“.

 

3. Click on “+ Liquidity” in the box on the right. Key in the amount of stFIRO you’d like to contribute to the liquidity pool. Bear in mind that you should have equal values by now. The other amount (of stETH) will be populated automatically).

 

4. After keying in, you will be asked to approve the stFIRO spend on the Sushi UI as well as on your MetaMask extension (wallet). Arppove by confirming the transaction after reviewing the details on your MetaMask pop-up.

5. Depending on the gas fees and network, it might take a while for the transaction to be confirmed. Head back to the stFIRO-stETH liquidity pool. You might need to refresh. At this point, click on “MAX” button on the “input” field for stFIRO balance to add the maximum liquidity you can provide for this pool. Please note that the screenshot below is not reflective of the actual transaction. At this point, you should see some balances in your stETH and stFIRO (above ticker and logo). During this step, you will only see one button to proceed – hit “Supply“.

 

6. Confirm your transaction on MetaMask again to confirm supply.

7. After confirming, it will take a while for the transaction to go through. Once approved, you will receive a verification message on the right of the SushiSwap page. Head to the Farm next. On this page, you will see a list of Farms – which is split into Farm and Onsen Farms. Onsen farms are where you will find most of the newly listed token pairings. You can do a quick search with the search bar (“filter pairs”). Click on “Onsen Farms” and search for “stFIRO“.

 

8. Click on ‘Approve Staking‘ to stake your SLP token. Connect your wallet again and approve the transaction twice. Afterwards, you will be able to view your SUSHI rewards on your portfolio (read Check Positions and Balances below), add and remove liquidity, and more.

 

9. Head to Onsen Farm. Under ‘Filter’, search for stFIRO pairing. You will see a stFIRO-stETH pairing. You can also have an overview of the ROI, liquidity of the pool, amount you have staked, and your total SUSHI earnings. On the right, you can quickly add liquidity or “Approve Staking” (which is staking your SLP). Once you already have your SLP by providing liquidity in part 1, you can proceed to stake your SLP here under ‘Approve Staking’. You will have to Approve Staking, and then click on “Staking” again. From here, you can proceed to check your balances in your portfolio every now and then on SushiSwap (read below sections).

 

Checking Positions and Balances

To know what your current positions and balances are, head to your SushiSwap portfolio. You have to connect your wallet to see the balances and positions. You can also access this page by heading to app.sushi.com, connect your wallet (just below Sushi’s logo on the left), and click on ‘Portfolio‘. On this page, you are able to look at the transactions you have made through Sushi and the connected wallet. At the same time, view the SUSHI rewards you would have accumulated (via yield farming, not included in this article), your liquidity pool positions, as well as the specific farms you have “staked” your SLP tokens on.

 

Removing Liquidity

If for some reason you would like to remove liquidity from a pool, you can also do so via app.sushi.com. Connect your MetaMask wallet, go to “Pairs” and search for the pair you provided liquidity to. It will look similar to the screenshot below. Now, instead of “+ Liquidity”, select “– Liquidity” in the box on the right. You can then select the percentage of liquidity you would like to withdraw.

 

Just an additional note: Every transaction and confirmation will require ETH gas fees. Plan your movements in advance and watch the market to make the best of your stTokens.

Have Questions? Join our stFIRO community on Discord!

Provide Liquidity to stETH-stZEN and Earn SUSHI Rewards!

If you haven’t gotten your stETH and stZEN, here are some resources for you to follow:
1. Get stETH
2. Get stZEN with ETH or ZEN

The key benefit of providing liquidity to a multi-staked Token pool is the staking rewards that come with BOTH tokens = stETH staking rewards 7.87% APY + stZEN Secure node staking rewards 8.67% APR, as of writing. On top of this, you can also earn additional fees by providing liquidity to a pool on an Automated Market Maker (AMM) like SushiSwap.

1. Head to SushiSwap Exchange or access Liquidity Pool directly. Click on “Pool” on the top left (if you are not directed to the pool.)

2. Click on “+Add Liquidity“. As you can see in the screenshot, Liquidity Providers are rewarded a 0.25% fee proportionate to their liquidity pool share.

3. As you can see, both are input options. Select ‘stZEN’ if you have already imported it previously. Otherwise, use this token address: 0x31B595e7cfDB624D10A3E7A562eD98c3567e3865

Next, choose how much you would like to contribute to one of the tokens. The other number will be automatically populated based on the price of the token. Hit ‘Approve stZEN‘.

 

4. Your MetaMask extension will pop-up again requesting confirmation of the transaction, along with the transaction fees required. Hit ‘Confirm’.

 

5. After confirming, it will take a while for the transaction to go through. Once approved, you will receive a verification message on the right of the SushiSwap page. Head to the Farm next. On this page, you will see a list of Farms – which is split into Farm and Onsen Farms. Onsen farms are where you will find most of the newly listed token pairings. You can do a quick search with the search bar (“filter pairs”). Click on “Onsen Farms” and search for “stZEN“.

 

6. Click on ‘Approve Staking‘ to stake your SLP token. Connect your wallet again and approve the transaction twice. Afterwards, you will be able to view your SUSHI rewards on your portfolio (read Check Positions and Balances below), add and remove liquidity, and more.

(PART II) Staking your SLP on Onsen Farm

1. Head to Onsen Farm on the SushiSwap app.

2. Connect to your wallet if you haven’t already.

3. Under ‘Filter’, search for stZEN pairing. You will see a stZEN-stETH pairing. You can also have an overview of the ROI, liquidity of the pool, amount you have staked, and your total SUSHI earnings. On the right, you can quickly add liquidity or “Approve Staking” (which is staking your SLP). Once you already have your SLP by providing liquidity in part 1, you can proceed to stake your SLP here under ‘Approve Staking’. You will have to approve 2 transactions. From here, you can proceed to check your balances in your portfolio every now and then on SushiSwap (read below sections).

 

Checking Positions and Balances

To know what your current positions and balances are, head to your SushiSwap portfolio. You have to connect your wallet to see the balances and positions. You can also access this page by heading to app.sushi.com, connect your wallet (just below Sushi’s logo on the left), and click on ‘Portfolio‘. On this page, you are able to look at the transactions you have made through Sushi and the connected wallet. At the same time, view the SUSHI rewards you would have accumulated (via yield farming, not included in this article), your liquidity pool positions, as well as the specific farms you have “staked” your SLP tokens on.

 

Removing Liquidity

If for some reason you would like to remove liquidity from a pool, you can also do so via app.sushi.com. Connect your MetaMask wallet, go to “Pairs” and search for the pair you provided liquidity to. It will look similar to the screenshot below. Now, instead of “+ Liquidity”, select “– Liquidity” in the box on the right. You can then select the percentage of liquidity you would like to withdraw.

 

Just an additional note: Every transaction and confirmation will require ETH gas fees. Plan your movements in advance and watch the market to make the best of your stTokens.

Have Questions? Join our stZEN community on Discord!

stZEN is now on SushiSwap: Here’s how you can earn with stZEN + a $2,500 Giveaway!

stakedZEN (stZEN) is a 1:1 ERC-20 representation of staking ZEN through StakeHound. This is made possible with the partnership between StakeHound and Horizen to make staking ZEN easier and more liquid for the community. Here’s a summary of stZEN and what it does.

stZEN enables anyone to:

  1. Earn staking rewards without lock-up or high minimum stake.
  2. Access DeFi ecosystem – yield farming, lending and borrowing, and more to earn even more rewards or yield.

All of the above, at the same time.

How to Get stZEN:

There are multiple ways to get stZEN depending on what cryptocurrency you’re holding. You can get stZEN with ETH, stETH or ZEN itself. To find more information on stZEN, you may search with its contract address: 0x31b595e7cfdb624d10a3e7a562ed98c3567e3865

  1. Through the stETH-stZEN pool on SushiSwap, with no minimum.
  2. Through the ETH-stZEN pool on SushiSwap, with no minimum.
  3. Through StakeHound’s Altcoinomy KYC Process: Minimum from 1,000 CHF.

4 Ways to Earn More with stZEN:

1. Earn stZEN Staking Rewards

Anyone can earn staking rewards just by holding onto stZEN. Simply put, 1 stZEN = holding 1 ZEN. You will earn the rewards according to ZEN’s staking rewards. The frequency of distribution is similar as well. Distribution of your staking rewards will come in stZEN tokens, automatically distributed to wherever you are holding stZEN – whether it’s on your MetaMask wallet, or in a SushiSwap pool. There are no additional steps or opt-in required. If you would like to, you can always exchange stZEN for ZEN 1:1 anytime with StakeHound through the KYC process.

2. Provide Liquidity to stZEN Pools and Earn Trading Fees

Besides holding onto staking rewards, you can also provide liquidity to stZEN pools and earn extra trading fees. On SushiSwap, liquidity providers will earn 0.25% fees on all trades proportionate to their pool share. This means that if you provide liquidity to an stZEN pool, you will be earning both (1) staking rewards and (2) trading fees. By providing liquidity, you will receive an LP token (Sushi Liquidity Pool – SLP) token which represents your share in the pool. This allows you to reclaim and withdraw your liquidity from the pool. You can also do yield farming with your LP token (point 3).

3. Yield farming with Onsen Farm

Putting it simply, yield farming is basically staking your Liquidity Pool tokens (LP tokens) to earn even more rewards. Yield farming exists to further incentivize people to provide liquidity to the pools. On SushiSwap, there are farms on it that allow users to stake their LP tokens according to the pools they contribute to, which yield varies. As for stZEN, you can stake your SLP token on the stETH-stZEN Onsen farm to earn SUSHI rewards. SUSHI rewards are governance tokens of SUSHI, that you can also trade on the open market where it is listed.

4. Multiple Layers of Staking Rewards (!!)

What is a multi-staked Token pool? It is a pairing that is made up of both stakedTokens issued by StakeHound. This means that users can earn staking rewards from BOTH stakedTokens by (1) holding both stTokens (namely stZEN and stETH) and (2) providing liquidity to a multi-staked Token pool. Users are recommended to provide liquidity to the stETH-stZEN pool so as to earn even more rewards with the same amount of effort. Similar to the set-up of stZEN, stETH is a 1:1 representation of staking 1 ETH through StakeHound, without a lock-up and high minimum stake required. Currently, ETH 2.0 requires 32 ETH and 18 month lock-up for stakers. But with stETH, there are no minimum holdings required when acquired through SushiSwap.

In summary, stETH-stZEN liquidity providers get to earn 3 different rewards:

  1. Staking rewards (of both)
  2. Trading fees (0.25% fees on all trades proportionate to your liquidity pool share)
  3. SUSHI Rewards (governance token on SushiSwap)

For example, if Adam is to provide liquidity to stETH-stZEN pool, the rewards are:

  1. stETH Staking rewards at 7.87% APY
  2. stZEN Staking rewards at 8.67% APY (Secure node)
  3. Trading fees of pool share: 0.25% fees on all trades proportionate to his pool share
  4. Additional SUSHI Rewards: 91.42% (1y)

*As staking rewards vary from time to time, the above numbers are as of writing.

Here’s how you can earn Multiple Staking Rewards with stZEN

  1. If you haven’t created a MetaMask wallet, here’s how you can do it.
  2. After getting a wallet, you will need to get some stETH on SushiSwap.
  3. You will also need to get either stZEN with the stETH you just acquired or stZEN with ZEN through KYC process.
  4. Next, provide liquidity to the stETH-stZEN pool
  5. Finally, stake your SLP here.

Have questions on how you can do it? Join our stZEN Discord Community!

BONUS: $2,500 Giveaway!

The Horizen team has also launched a $2,500 giveaway for stZEN supporters! The best part about this is that it’s very easy to qualify for this giveaway. All you have to do is to get at least 10 stZEN before May 8th, and hold it in the submitted wallet for 30 days. If you are new to DeFi and SushiSwap, refer to the above section for links to detailed guides.

Step-by-step Guide: Providing Liquidity and Yield Farming on SushiSwap

When it comes to liquid staking, anyone can hold onto stakedTokens (stTokens) and earn staking rewards, while at the same time, participate in DeFi activities such as yield farming. So what exactly is yield farming? Yield farming is also known as liquidity mining, which is just another DeFi term for additional rewards given to liquidity providers via staking. There are essentially two parts to the process of yield farming: (1) providing liquidity, (2) mining your liquidity pool (LP) tokens. In this article, we will be covering (1) providing liquidity.

In summary, StakeHound’s stToken liquidity providers get to earn 3 different rewards:
1. Staking rewards (varies between tokens)
2. Trading fees (0.25% of all trades proportionate to your liquidity pool share)
3. SUSHI Rewards (governance token on SushiSwap)

For example, if Adam is to provide liquidity to ETH-stETH pool, the rewards are:
1. stETH Staking rewards at 7.87% APY
2. Trading fees of pool share: 0.25% per trade proportionate to pool share
3. Additional SUSHI Rewards: 73.65%(1y)

*As staking rewards vary from time to time, the above numbers are as of writing.

If Adam provides liquidity to a multi-staked Token pool (eg. stETH-stDASH), this means that Adam will get to earn Staking rewards from both, Trading fees of pool share, as well as SUSHI Rewards on the Onsen (depending on if it is listed). Now that you understand how the rewards work, here are the step-by-step instructions. In this article, we will be covering both parts on SushiSwap.

Before you begin, you will need:

1. MetaMask Wallet
2. Both ETH and/or stETH in your wallet depending on which token you are providing liquidity to. Both should be in equal value.

 

(PART I) Providing Liquidity

1. Head to SushiSwap Exchange or access the correct Liquidity Pool directly (if link is provided). Click on “Pool” on the top left (if you are not directed to the right pairing).

2. Click on “+Add Liquidity“. As you can see in the screenshot, Liquidity Providers are rewarded a 0.25% fee proportionate to their liquidity pool share.

 

3. Both are input options indicated on the screenshot below. Select the correct stToken if you have already imported it previously. Otherwise, use the right token address.

Note: You can find all the token addresses from our FAQ document. Kindly note that token addresses for mainnet and testnet are different. You cannot transfer testnet tokens to the mainnet, vice versa. To put it simply, the mainnet consists of your “real” crypto, while the testnet consists of “fake” crypto. You can check which network you are on via your MetaMask wallet on your browser extension.

In this example, we are using the ETH-stETH pool. If you are providing liquidity to other stToken pools, make sure that two tokens’ contract addresses are correct. Next, key in the amount you would like to contribute to either of the tokens. The other “Input” amount will be automatically populated based on the current price of the token. Hit ‘Approve stETH‘ (screenshot below). If you already hold enough balances for both tokens of the pool, you will skip this step (Skip to step 5).

 

4. Your MetaMask extension will pop up requesting confirmation of the transaction, along with the number of transaction fees required. Hit ‘Confirm‘.

5. Once you have approved supply, you would now need to supply. Indicate the amount of stETH/stToken you would like to supply again, and hit ‘Supply’. Please note that each action of supplying and staking usually requires 2 transactions (2 x ETH gas fees), so do plan beforehand.

 

6. You will then see another screen that shows you the Pool Tokens (LP Tokens) you will receive according to your pool share. Hit ‘Confirm Supply‘ (as in the screenshot below). You will then be led to another MetaMask pop-up to confirm the transaction.

At this point, you will have completed the liquidity provision and an SLP (SushiSwap LP token) token which represents your share of this liquidity pool. If you would like to earn more rewards, you can consider staking your SLP – which is also known as yield farming.

 

(PART II) Staking your SLP on Onsen Farm

1. Head to Onsen Farm on the SushiSwap app.

2. Connect to your wallet if you haven’t already.

3. Under ‘Filter’, search for your stToken pairing. In this example, we’re searching for “stETH”. You will see a WETH-stETH pairing. You can also have an overview of the ROI, liquidity of the pool, amount you have staked, and your total SUSHI earnings. On the right, you can quickly add liquidity or “Approve Staking” (which is staking your SLP). Once you already have your SLP by providing liquidity in part 1, you can proceed to stake your SLP here under ‘Approve Staking’. That’s all you really need to do. Please note that you’ll be required to go through two transactions – (1) Approve Staking, (2) Staking, which means that it will incur ETH gas fees for both.

Checking Positions and Balances

To know what your current positions and balances are, head to your SushiSwap portfolio. You have to connect your wallet to see the balances and positions. You can also access this page by heading to app.sushi.com, connect your wallet (just below Sushi’s logo on the left), and click on ‘Portfolio‘. On this page, you are able to look at the transactions you have made through Sushi and the connected wallet. At the same time, view the SUSHI rewards you would have accumulated (via yield farming, not included in this article), your liquidity pool positions, as well as the specific farms you have “staked” your SLP tokens on.

 

Removing Liquidity

If for some reason you would like to remove liquidity from a pool, you can also do so via app.sushi.com. Connect your MetaMask wallet, go to “Pairs” and search for the pair you provided liquidity to. It will look similar to the screenshot below. Now, instead of “+ Liquidity”, select “– Liquidity” in the box on the right. You can then select the percentage of liquidity you would like to withdraw.

 

Just an additional note: Every transaction and confirmation will require ETH gas fees. Plan your movements in advance and watch the market to make the best of your stTokens.

Have Questions? Join our stETH community on Discord!

Get stETH to Earn ETH2.0 Staking Rewards Without Lock-up

We’ve launched stETH on SushiSwap that lets users earn staking rewards while having the freedom of trading, yield farming, and collateralizing in the DeFi ecosystem. stETH is currently on SushiSwap, and has since made the top 13 ranking for Top Pairs and Top Tokens just below Uni. If you want access to flexibility and staking rewards at the same time, here’s a step-by-step guide.

In this guide, you will see how you can connect your MetaMask wallet, which you have created, to swap for stETH on SushiSwap.

1. Go to SushiSwap (https://exchange.sushi.com/#/swap?outputCurrency=0xdfe66b14d37c77f4e9b180ceb433d1b164f0281d) and click ‘Connect to a Wallet’.

2. Select MetaMask from the list of wallets available.

 

3. The MetaMask extension will pop-up, requesting for you to select the account you would like to connect to. After ‘Next’, hit ‘Connect’.

4. You are now able to swap ETH for stETH.

5. You will receive a pop-up once again on MetaMask extension to request for you to confirm the transaction with details on the gas fees. Hit ‘Confirm’. (Note: Image attached is for illustration purposes and not reflective of actual transaction.)

6. If the stETH balance is not reflecting, follow the bottom half of this guide to learn how to add and view stETH in your MetaMask wallet.

Have questions? Join the stETH Discord community and let us assist.

How to try stDivi on SushiSwap [testnet]

The stDivi testnet is an emulation for users to familiarise themselves with the process of acquiring stDivi and providing liquidity to the pool without using real cryptocurrencies. Please note that while the steps will be the same when stDivi is live on the mainnet, the Contract Address and Link to SushiSwap Pair will be different from this guide. 

For this guide, you would have already created a Metamask wallet and added that in the browser. You do not need to store any ETH for the testnet to work. You may follow the steps below for clarity.

 

  1. Head to StakeHound.com and click on ‘Try stDivi™ Today’.

 

 

2. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.

 

3. Request for any amount of ETH from faucets [https://faucet.dimensions.network/, https://faucet.metamask.io/https://faucet.dimensions.network/]. Input your wallet address. You can find your wallet address in the Metamask extension. Click on it and click on the Account name to copy your wallet address to clipboard. Paste it in the field and click on ‘Send Ropsten ETH’.

 

4. Once you are done, it will reflect a transaction hash. Click on it to be taken to Etherscan which will reflect the status of the rETH transaction. Please note that you might have to wait up to 2 minutes for the transaction to be successful. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.

 

5. Head to SushiSwap for the stDivi testnet again: https://exchange.sushi.com/#/swap?inputCurrency=ETH&outputCurrency=0xD382dAFeE67e52e5BE581120730F63d97bF313BF. Connect your MetaMask wallet to SushiSwap (top right in the navigation bar). Afterwards, check ‘I understand’ in the warning message and click ‘Import’. If stDivi is not showing up, double check your MetaMask account through the browser extension if your network is on ‘Ropsten Test Network’ instead of the mainnet.  

 

6. Now, you can use the ETH you have received from the faucet to swap for stDivi. The minimum stDivi needed to earn staking rewards is 1 stDivi. If there is no warning message, you just need to click on ‘Confirm Swap’ to proceed.

 

7. Once you have keyed in the ETH you would like to swap stDivi with, hit ‘Confirm Swap’ on the SushiSwap interface. You will now see a popup from the Metamask extension, requesting you to confirm the transaction before proceeding. Click ‘confirm’.

 

8. Transaction is pending. You should now add stDivi (testnet) tokens to your Metamask wallet. You may click on ‘Add stDivi to Metamask’ or select ‘Add Token’ directly from the Metamask extension (on the right). If you have selected ‘Add Token’, you will now copy and paste the token contract address [0xD382dAFeE67e52e5BE581120730F63d97bF313BF] in the first field. The next two fields will populate automatically. Hit ‘Next’.

 

10. You will now see that the Metamask wallet holds the number of stDivi you have swapped for. 

 

With the stDivi in your Metamask wallet, you may proceed to request for more ETH from the faucet and swap for more stDivi just to familiarise yourself with the process. Once stDivi is listed on SushiSwap (on the mainnet), the steps will be similar except for the token address and link to SushiSwap pair/liquidity pool. 

Please note that the 1. Contract address and 2. Link to liquidity pool/pair will be different from the one in Testnet.

 

Have questions? Join the stDivi Discord community and let us assist.