Ethereum 2.0 Deposits Near 3 Million as Tokenized Staking Launches

ethereum staked amount jan 27 2021

More than 2.8 million eth, worth some $3.6 billion, is now staking in eth 2.0 for a yearly yield of 9.3% in eth. The sum has gradually increased as can be seen above just weeks after it launched on December the first. The managed staking service by Kraken remains one of the biggest depositor, but there is now competition from smart contract based staking. Lido just launched recently with it basically binding staked eth to an stETH token that can freely be used. They say: “When using Lido to stake your ETH on the Ethereum beacon chain, users will receive a token (stETH), which represents their ETH on the Ethereum beacon chain on a 1:1 basis. It effectively acts as a bridge bringing ETH 2.0’s staking rewards to ETH 1.0. As a user’s staked ETH generates staking rewards from ETH 2.0, the user’s ETH balance on the beacon chain will…

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