Where can I see the assets stored by StakeHound?
The list of ETH2 nodes run by StakeHound can be seen here
Is the code audited?
Will I have to claim stETH rewards manually, or will they be automatically received?
stETH staking rewards will be distributed daily automatically. stETH placed in liquidity pools will also be earning these rewards. You don’t have to take additional action to receive the rewards.
Why won’t I see additional transactions of stETH staking rewards?
stToken holders will not see transactions of reward distribution as it is done through a rebase mechanism. Rebase refers to having an elastic token supply that adjusts according to specific metrics. In this case, stETH’s total supply updates automatically according to the number of ETH staked through StakeHound. When ETH staking rewards are received, leading to an increase of ETH staked, the total stETH supply is also increased accordingly.
If Adam was holding onto 10 stETH and the total ETH staked saw a 5% increase (due to rewards), Adam will now see 10.5 stETH in his holdings – whether it’s in his wallet or in an AMM liquidity pool.
If I’m already staking, how is this any different?
As there is no way to unstake your ETH holdings until the docking on Beacon Chain has been merged, holding stETH now would mean you’ll now have the flexibility to earn rewards, trade, hold, or do more such as yield farming, lending and borrowing, in the DeFi space.
How can I make the best out of stETH?
There are various ways to do this.
1. You can hold stETH to earn staking rewards.
2. On top of holding, you can also provide liquidity to stETH (-stFIRO/-stZEN/-WETH) pools. By providing liquidity to a multi-stakedToken pool (eg. stETH-stZEN), you’ll earn staking rewards from both stTokens.
3. With the LP token, you can farm it on SushiSwap (Onsen farms).
This means that you will be earning (1) Staking Rewards, (2) Trading fees, and (3) Sushi rewards = potentially 20-30% APY.
stETH Staking rewards: +7%
Liquidity provision on Sushi: +0.25% fee on all trades proportionate to your pool share
WETH-stETH Onsen farm: +20%
Total rewards: 27.25% APY*
Get your stETH!
*Numbers are as of writing.
Unfamiliar with SushiSwap? Try stETH™ on the Testnet today:
Testnet is an emulation of how the swap and trades work. The testnet cryptocurrencies cannot be transferred to or swapped for the ones on the mainnet.
- Step by Step Guide: stETH Testnet
- Join stETH Discord Community: Discuss/Ask Questions
- What is stETH?