Matrixport announces the launch of ‘ETH 2.0 Staking Earn’

By Leandra Monteiro

Matrixport, one of Asia’s fastest growing digital assets financial services platforms, has announced the launch of ‘ETH2.0 Staking Earn’, the first offering of its kind that enables customers to participate in Ethereum 2.0 (ETH2.0) staking at a low threshold, earn yield from Ethereum lock-up rewards, while simultaneously benefitting from additional token rewards, mining revenues, and better liquidity from related DeFi projects. Users can easily access the new product via Matrixport’s trusted and secure app platform to participate in ETH2.0 staking ‘with just two taps’.

Matrixport’s ‘ETH2.0 Staking Earn’ product expects to earn yields of between 3 to 10 percent. Users are able to earn higher yields that are generated from a combination of average ETH2.0 staking reward of 2.30 percent, DeFi mining token revenues of 6.81 percent and transaction fee income of 0.14 percent.

‘ETH2.0 Staking Earn’ generates additional yield through established DeFi protocols Curve and Lido, a liquid staking solution for ETH 2.0 backed by industry-leading staking providers. Lido is currently the largest decentralised contract for ETH 2.0 staking, with over 540,000 ETH staked. By utilising Curve, users also benefit from stable currency exchange services with low slippage and low transaction fees.

John Ge, Co-Founder & Chief Executive Officer, Matrixport said, “The transition to proof-of-stake is an important milestone for the ecosystem, but the barrier to meaningfully participate in ETH 2.0 staking pools is still high for many. Matrixport’s ground-breaking ‘ETH2.0 Staking Earn’ balances robust ETH 2.0 staking rewards with the liquidity benefits of DeFi protocols. Additionally, the significantly lower investment thresholds encourage wider participation from the community. Our first-in-class product reflects Matrixport’s relentless commitment to bring to market innovative offerings that benefit the long tail of crypto users.”

Starting from 25 to 31 August 2021, Matrixport users will be able to reserve their shares, which will then be confirmed on 1 September 2021. To allow easy access for ETH 2.0 investment, a lower investment threshold with a minimum of 5 ETH has been set. The investment yield will be updated once a month, within 3 working days after the open period at the end of each month. Unlike other staking pools, ‘ETH2.0 Staking Earn’ enables users to withdraw early, subject to an additional service fee.