๐Ÿ“Liquid Stake ETH

Liquid staking ETH on Haven1 allows you to earn best in class rewards from native ETH staking yield as well the rewards from deploying hsETH on Haven1 DEFI ecosystem

Your Ultimate Guide to Staking and Earning Liquidity points (LPs) with Haven1

Hello, future stakers! Ready to dive into the exciting world of staking ETH and racking up LPs on Haven1? Hereโ€™s a step-by-step guide to get you started and to help you understand how everything worksโ€”yes, including those intriguing LPs!

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! ๐ŸŒ

Now that you are ready, let's make sure you're on the right network. If youโ€™re hanging out on the Haven1 network, youโ€™ll need to switch over to Ethereum Mainnet:

  1. Change Network: Simply click on โ€˜Switch Networkโ€™ at the top right of your screen. Easy peasy!

Let's Stake Some ETH! ๐Ÿ”ฅ

Now that you're on the Ethereum network, letโ€™s get to the fun part:

  1. Navigate to Stake: Click on the โ€˜Stakeโ€™ 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, youโ€™ll receive hsETH tokens of the exact same $ value.

Note that as hsETH accrues staking rewards, it will rebase and gain in value against ETH. Weโ€™ll show you exactly how much hsETH youโ€™re getting back before your stake.

Track hsETH in Your Wallet ๐Ÿš€

  1. You surely want to be able to track your hsETH holdings. Click the โ€˜Add hsETHโ€™ button and click on 'Add Token' when your wallet prompt pops up.

Liquidity Points and Boosts ๐ŸŒŸ

  1. Start Accumulating Liquidity Points (LP): With everything set, youโ€™ll begin to accumulate LPs. We have reserved 20% of our airdrop to users who are staking ETH.

    LPs are calculated simply as a product of Amount of ETH staked and Duration of stake(in seconds).

    As an example, if Jeff staked 1 ETH for 90 days leading up to the airdrop, his total LPs will be ~7.8M

    1 * 90*(24*60*60)= 7,776,000

    Assume, a total of 5,000 ETH is staked for an average of 90 days, until the airdrop. Total LPs in circulation at the time of airdrop will be ~38.9 Billion

    5,000*90*(24*60*60) = 38,880,000,000

    Assume total H1 airdrop reserved for this product is 5,000,000 H1 tokens. In this scenario, every 1000 LPs will be worth 0.2 H1 tokens

    7,776,000 * 1000/38,880,000,000 = .2

    This means Jeff would have earned ~1000 H1 tokens worth of airdrop

    Jeff's LPs/Total LPs * H1 Airdrop = 1000 H1 How Boosts work? More ETH you put in the more airdrop you get. You can now increase your airdrop by putting in more than .1 ETH and becoming eligible for those boosts. Boosts max out on 200% at which point you effectively triple your airdrop. 10% Boost would mean that your points would increase by 10%. So if you were going to earn 30,000 LPs, now you would earn 33,000 LPs. Notes:-

  • You are eligible for boosts only after you have kept the required amount of ETH staked for a continuous 30 days.

  • Liquidity Points you are seeing on the ETH staking webpage don't have the boosts added and all your boosts will be taken into account before the airdrop

How much APR is this?

APR is a factor of H1 price at the time of airdrop, ETH price, and Native ETH staking Yield. Hence to calculate an example APR, we would have to make a few different assumptions.

Example:- H1 token launch price of $0.2735(~27 cents) & Average ETH price of $5,000 during these 90 days & Native ETH staking yield net of 10% commission = 3% Using the above assumptions, Jeff would have earned an airdrop APR of 22% on his staked ETH, in addition to ~3% native ETH yield.

APR = Airdrop value/ETH value * Annualised = (1000*.2735)/5,000*(365/90) = 22%

Total APR = APR from ETH staking + APR from airdrop = 25%

Important to note that these numbers are just an example and the actual APR may be higher or lower.

  • If H1 launch price is 10 cents, then equivalent APR from airdrop will be 8% and total APR will be 11%

  • If H1 launch price is 50 cents, then equivalent APR from airdrop will be 41% and total APR will be 44%

Important Notes โš ๏ธ

Handling Your hsETH

  • Transferring hsETH: If you decide to send your hsETH to a different Ethereum address, be aware that youโ€™ll stop earning LPs. This is a crucial note for managing your investments.

Ready to Unstake?

  • Unstake Anytime: You can decide to unstake your ETH whenever you like. Note that it might take 7 to 10 days for your assets to be ready to withdraw once youโ€™ve unstaked.

  • Withdrawing Your Unstaked ETH: After the unstaking process is complete, your assets will become available for withdrawal. This step is entirely in your control.

Audit Reports ๐Ÿ”

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 is a liquid token that represents staked ETH on the Haven1 platform. 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.

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?

During the testnet phase, holding hsETH earns you points towards a significant airdrop, rewarding early stakers. Upon the launch of Haven1's mainnet, you will be able to use hsETH for a variety of activities including trading, engaging in DeFi applications, and using it as collateral in lending protocols. For instance, you'll have the option to liquidity pool your hsETH in a stable pair with hETH to earn transaction fees.

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.

Is staking ETH mandatory to be elgiible for Haven1 airdrop?

No.

But users staking ETH will earn Liquidty points for which we will reserve a share of airdrop. Adding to it, users staking ETH can also earn boosts by staking a min amount of ETH for 30 days. These boosts will increase your airdrop allocation

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