💧Liquid ETH Staking on Haven1
Liquid staking ETH on Haven1 allows you to double dip rewards by earning attractive yields by using your hsETH in Haven1 DEFI ecosystem in addition to native ETH staking yield
Get started by going here Direct Link
Here’s a step-by-step guide to get you started and to help you understand how everything works
First things first, if you have never staked before, you might want to explore Ethereum Staking to understand the basics.
Getting Started: Set Your Network Right! 🌐
Now that you are ready, let's make sure you're on the right network. If you’re hanging out on the Haven1 network, you’ll need to switch over to Ethereum Mainnet:
Change Network: Simply click on ‘Switch Network’ at the top right of your screen. Easy peasy!
ETH staking is being offered on Ethereum Network
Let's Stake Some ETH! 🔥
Now that you're on the Ethereum network, let’s get to the fun part:
Navigate to Stake: Click on the ‘Stake’ tab and decide how much ETH you want to lock in. Feeling generous? Go big!
Stake ETH to obtain hsETH: On clicking 'Stake ETH' you will have to approve the spend and then confirm the transaction. Upon staking, you’ll receive hsETH tokens of the exact same $ value. Transaction cost being shown is the gas you pay on Ethereum Mainnet. Haven1 doesn't charge any fees on this action.
Note that as hsETH accrues staking rewards, it will rebase and gain in value against ETH. We’ll show you exactly how much hsETH you’re getting back before your stake.
Bridging hsETH over to Haven1 mainnet
You can bridge directly now as a part of the stake transaction itself. You will see the status on the display and may be asked to apporve and confirm multiple transactions on your metamask
You should also be able to go to bridge next and bridge your hsETH from Ethereum Mainnet to Haven1 Mainnet by going to this Direct Link
Simply select Ethereum as the Send From Network
Next choose hsETH as the token you want to bridge.
You will see Haven1 Mainnet as the Send To network and hsETH has the token you will receive
Fill in the amount of hsETH you want to bridge or simply choose Max if you want to bridge in all your hsETH
Click Confirm after reviewing everything
You will need to pay the gas on Ethereum Mainnet. There is no deposit fee being charged by Haven1 network
Earn trading fees and incentives by using hsETH on Haven1 Mainnet
You can now start using hsETH on Haven1 Mainnet DEFI
Easiest option would be to add liquidity to auto managed vaults by Ichi by going here. These vaults auto balance and keep your assets in play to keep earning you healthy rewards and incentives. Note that you take a risk on impermanent loss when you provide liquidity here.
You may want to pool your hsETH with hETH(Bridged Ethereum from Ethereum Mainnet) on hSwap by going here
Important Notes ⚠️
Ready to Unstake?
Bridge out hsETH from Haven1 Mainnet to Ethereum Mainnet by visiting this Direct Link
Unstake Anytime: Once you get your hsETH back on Ethereum mainnet, you can decide to unstake your ETH anytime by going to this Direct Link.
Note that it might take 7 to 10 days, depending upon the Unstake Queue, for your assets to be ready to withdraw once you’ve unstaked.
Withdrawing Your Unstaked ETH: After the unstaking process is complete, your assets will become available for withdrawal. Visit Withdrawal by visting this Direct Link to withdraw your ETH
Audit Reports 🔐
Haven1 mandates application developers to get 2 audits done before they are allowed to deploy any application on the network. In line with the policy, we got 2 audits done for this product.
FAQ
What is hsETH?
hsETH on Ethereum Mainnet is a liquid token that represents staked ETH on the Ethereum Mainnet. By staking your ETH through Stader Labs, hsETH allows you to maintain liquidity and engage in DeFi activities while accruing staking rewards. This keeps your assets active even as they earn staking benefits.
hsETH at a technical level is the wrapper on Stader's ETHx product with a different name that is branded in line with Haven1 tokens. You can read more about ETHx by going to this Direct Link
1 ETHx = 1 hsETH
hsETH on Haven1 Mainnet is a bridged version of hsETH on Ethereum Mainnet. hsETH bridged from Ethereum Mainnet is stored securely in a vault on the source chain and corresponding bridged version is minted on Haven1 mainnet. This is done on Haven1 bridge which is operated by Haven1 validators. Users can verify the proof of reserves at anytime by going to this Direct Link
1 hsETH on Ethereum Mainnet = 1 hsETH on Haven1 Mainnet
Is hsETH safe?
hsETH at a technical level is the wrapper on Stader's ETHx product with a different name that is branded in line with Haven1 tokens.
You can read all about ETHx security by going to this Direct Link
Is 1 hsETH equal to 1 ETH?
1 hsETH is not equivalent to 1 ETH.
hsETH continuously accrues staking rewards and grows in value against ETH. As an example, you may get .97 hsETH by staking 1 ETH when you stake and when you unstake this .97 hsETH may grown to 1.1 ETH due to accruing staking rewards.
Can I restake hsETH and earn Eigenlayer points?
While hsETH cannot currently be restaked, we are actively working to enable this feature with various re-staking protocols. At the moment, holding hsETH makes you eligible for Haven1's airdrop, offering additional incentives for early and active participation. Once Haven1 launches mainnet, you will be able to earn potentially double digit returns by deploying hsETH in different protocols on Haven1 network.
Last updated