📍hsETH 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:

  1. 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:

  1. Navigate to Stake: Click on the ‘Stake’ tab and decide how much ETH you want to lock in. Feeling generous? Go big!

  1. 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.

Note that is this is just an example. You will see the actual exchange rate on the product page.

Bridging hsETH over to Haven1 mainnet

  1. 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

  1. 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

    1. Simply select Ethereum as the Send From Network

    2. Next choose hsETH as the token you want to bridge.

    3. You will see Haven1 Mainnet as the Send To network and hsETH has the token you will receive

    4. Fill in the amount of hsETH you want to bridge or simply choose Max if you want to bridge in all your hsETH

  2. Click Confirm after reviewing everything

  3. 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

  1. You can now start using hsETH on Haven1 Mainnet DEFI

    1. 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.

    2. 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.

337KB
Haven1_ETHx_audit_report_by_SigmaPrime.pdf
pdf
SigmaPrime hsETH audit report
5MB
Haven1_Zokyo_audit_report_May1st_2024.pdf
pdf
Zokyo hsETH audit report

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.

What can I do with hsETH on Haven1?

Upon the launch of Haven1's mainnet, you will be able to earn yields on your idle hsETH for a variety of activities such as by providing liquidity on hSwap or by lending hsETH on hLend.

Can I trade hsETH? If yes, where? If not, when? What are my options to get out of hsETH?

hsETH is tradeable. You may need to set up a pool in a DEX such as Uniswap on Ethereum Network to be able to trade hsETH.

Note that, you can unstake hsETH at any time and withdraw pending an unstaking period.

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