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:
- Earn staking rewards without lock-up or high minimum stake.
- 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
- Through the stETH-stZEN pool on SushiSwap, with no minimum.
- Through the ETH-stZEN pool on SushiSwap, with no minimum.
- 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:
- Staking rewards (of both)
- Trading fees (0.25% fees on all trades proportionate to your liquidity pool share)
- SUSHI Rewards (governance token on SushiSwap)
For example, if Adam is to provide liquidity to stETH-stZEN pool, the rewards are:
- stETH Staking rewards at 7.87% APY
- stZEN Staking rewards at 8.67% APY (Secure node)
- Trading fees of pool share: 0.25% fees on all trades proportionate to his pool share
- 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
- If you haven’t created a MetaMask wallet, here’s how you can do it.
- After getting a wallet, you will need to get some stETH on SushiSwap.
- You will also need to get either stZEN with the stETH you just acquired or stZEN with ZEN through KYC process.
- Next, provide liquidity to the stETH-stZEN pool
- 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.