Ethereum

Ethereum is a decentralized, open-source Layer 1 blockchain network. The Ethereum platform allows developers to create and deploy applications—such as smart contracts—on its network. Smart contracts are self-executing agreements that automate interactions between two or more parties. Ether (ETH) is the native cryptocurrency of the Ethereum network. It is used to pay for transaction fees and services on the network, as well as to stake, helping to secure the network and generate yield for stakers.

ETH staking is the act of sending 32 ETH or more to the Beacon Chain smart contract in order to run an Ethereum validator. If a validator is not full (2048 ETH), it can always be topped up in your ETH dashboard. When sending 32 ETH or more to the smart contract, it is important to include a bunch of data in the transaction so you can exit your validator. Myrmidon Staking makes sure to include all relevant data when funding your validator, so you can always exit your staking position or part of it using our easy to use dashboard.

The APR on ETH is currently around 3.5%, though it can fluctuate based on the number of active validators on the network. As a Myrmidon Staking customer, you receive 100% of the protocol rewards and synchronization participations earned by your validator.

Every 8 to 9 days on the Ethereum blockchain, you will receive your protocol rewards in the wallet address used to fund your validator(s).

As the only non-custodial staking service, we provide our customers with the mnemonic seed phrase for each validator they run with us. This means that, in the event Myrmidon Staking goes offline, you can always access your validator(s) using the mnemonic seed phrase to retrieve your validator credentials. In this way, you are guaranteed a way to access your ETH if anything should happen to Myrmidon Staking.