stakefish’s new Ethereum staking service is live on Mainnet
We are excited to announce that the new version of our non-custodial Ethereum staking service is live on Mainnet.
We are excited to announce that the new version of our non-custodial Ethereum staking service is live on Mainnet.
We continue to pursue our mission to lower the barriers to staking. Accessing stakefish validators required the considerable stake of 32 ETH. This changes now. Starting today, you can stake Ethereum with stakefish with as little as 0.1 ETH!
Last November, we released the beta version of our new service and asked our community to try it out risk free using the Goerli test network. We very much appreciate the engagement and the feedback we received from so many of our community members.
Visit our website to start staking Ethereum.
How does this work?
You begin by selecting a staking period. The staking period is predefined, so you’ll need to set a reminder for yourself on when the staking period ends. When you stake ETH, you are sending your ETH to a separate smart contract that gathers the 32 ETH necessary to collectively stake a validator. Then, the 32 ETH is sent to the official Ethereum Deposit Contract and is paired with one of our validators. Our validators currently use Lighthouse and Prysm clients (with Nimbus and Teku on the way). At the end of the staking period, the staked ETH will be automatically withdrawn back to the smart contract and distributed back to you. We never hold custody of your staked ETH at any time.
The smart contract we use has been audited twice by Solidified and Runtime Verification.
Watch our tutorial video to learn how to stake Ethereum with as little as 0.1 ETH using your Metamask wallet.
What are the risks?
As we did on our testnet announcement, we’d like everyone to be mindful about the risks associated with staking to help you make the most informed decision.
- Staking requires the use of a smart contract to meet the 32 ETH threshold for a validator. Each contract deployment represents a single validator. This contract source code has been audited twice by Solidified and Runtime Verification. While there are no known vulnerabilities, as all things go, there could be unforeseen bugs in these smart contracts.
- We will be running the validators for all of the Ethereum staked via our service. While we are fully incentivized and aligned to keep running a highly performant infrastructure, this could be considered a single source of failure. If this is one of your concerns, we recommend checking out staking solutions with multiple operators.
- There could be network wide issues. The consensus layer has been running without large hiccups so far, but that does not mean there won’t be any critical vulnerabilities discovered in the future.
- Withdrawal may be delayed for a long time. There is a cap on how many validators can exit for each time interval. It may take a long time for funds to be exited from Ethereum’s consensus layer and returned to Ethereum’s execution layer’s smart contracts and ultimately, your wallet.
Of course, slashing will be a risk to keep in mind. We have never had any slashing incidents throughout our history, but this is a real risk that has occurred on the network.
How does this compare with other services?
There are many platforms today where users can stake any amount of Ethereum. Lido is a well known solution today when it comes to liquid staking with others like Rocketpool, Stakewise, and StaFi. We are genesis supporters of Lido and will continue to do so into the far future. If you are looking to engage with DeFi on your staked Ethereum, solutions like Lido may be more suited for you.
Staking with us will mean you will have dedicated access to our validators. We pride ourselves in our validator operations, and understand that stakers would like to choose a longstanding validator like us. You can stake with us knowing you will earn staking rewards until the exit date without any complexity.
What’s next?
We’re keeping a very close eye on the upcoming merge. We want to make sure we’re ready for the biggest upgrade to Ethereum of all time. The other high priority item for our Ethereum validators is to add Nimbus and Teku to the list of clients we support. A multi-client future is a necessity for the security and health of Ethereum, and we’ll make sure to do our part by further diversifying our stack. So, stay tuned on this!
We welcome new delegators to our new service. We pride ourselves in offering safe and reliable validators and are delighted to open the doors to those seeking Ethereum staking with a lower minimum requirement. Visit our website to stake with us today.
From your friendly neighborhood validator, stakefish.
About stakefish
stakefish is the leading validator for Proof of Stake blockchains. With support for 10+ networks, our mission is to secure and contribute to this exciting new ecosystem while enabling our users to stake with confidence. Because our nodes and our team are globally distributed, we are able to maintain 24-hour coverage.
Website: https://stake.fish
Telegram: https://t.me/stakefish
Twitter: https://twitter.com/stakefish
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