Ethereum prepares to launch staking with reward validators

Six days after the launch of the official depository contract, a little more was stakedmore than 50,000 ETH, so the acceleration was relatively slow and limited to loyal Ethereum fans, including Vitalik Buterin himself, who allocated 3200 ETH, and several cryptocats.

The amount placed on steaking at the moment is 9.6% of thetotal, so the project will have a long way to go to reach the threshold of 524,288.The most important thing is that this huge amount of ETH needs to be made a week before the Beacon Chain genesis unit appears.

A total of 50,332 ETH was placed in the Eth2 deposit contract, and a further 473,956 ETH is needed to run.

50,332 ETH has been staked in the Eth2 deposit contract.

473,956 more ETH is needed to launch Eth2.

█░░░░░░░░░░░░░░░░░░░ 9.6%

— Eth 2.0 Deposit Contract — Progress Meter Bot (@DepositEth) November 10, 2020

It is now believed that the launch date of the mainnet ETH 2.0 on December 1 is too muchoptimistic, because that won't happen until 16,384 validators appear.

«Currently about 10% has been contributednecessary ETH, so it may seem that ETH 2 Beacon Chain (stage 0) will not launch on December 1st, but this possibility still exists: pic.twitter.com/fmLRE715EG», - wrote Omar Bham, well-known in the crypto space.

Only about 10% of the required ETH has beendeposited so far, so while it may seem that the ETH 2 Beacon Chain (Phase 0) may not launch on December 1st, there’s still this possibility: pic.twitter.com/fmLRE715EG

- Omar Bham (Crypt0) (@ crypt0snews) November 9, 2020

Those who stake first will receive the greatest reward, as the reward will decrease as the amount staked increases.

Cinneamhain Ventures partner Adam Cochran says people don't fully understand the benefits of staking:

With minimum ETH staked you get approximately 36% ~ APY. At 1M ETH 18% ~ APY. At 2.5 million – 10.2% per annum.

Given the slow adoption, early risers will make huge profits.

I don’t think people fully comprehend the upside of ETH2.0 staking

At the min ETH staked, you get roughly 36% ~ APY.

At 1M ETH 18% ~ APY.

At 2.5M 10.2% APY.

Given slow uptake, early birds are going to make massive profit pic.twitter.com/zXWA5QzZ6q

- Adam Cochran (@AdamScochran) November 9, 2020

According to him, as soon as the new blockchain will belaunched with a minimum amount of 524K ETH, the profit could be 36% per year, although the ETH 2.0 team reports a return of 21.6%, which is still much higher than any DeFi protocol currently in force.

When staking a million ETH, the profitability dropsup to about 16%, after 10 million ETH - up to 4.9%. These returns are still far more than some DeFi offerings, including YETH from Yearn Finance, which offers 1.3% with a 0.3% withdrawal fee.

Most people crave passive income,Therefore, staking will be a good choice for those Ethereum holders who want to put their tokens to good use. This will likely have a positive impact on prices, so we can expect big things from Ethereum in the next year.

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