Gate.io releases ETH2 staking solution

Steffy Bogdanova
December 1, 2020 2:05 pm

Digital asset exchange Gate.io has just announced a flexible ETH staking solution, supported by a stable Ethereum infrastructure and maturity asset management solution. The solution will allow users to earn a staking reward without needing to lock their ETH in ETH2 for a long time or worry about ETH2 penalties.

Gate.io also announced that its stable coin, USDG, has been listed on S Finance. Users can exchange USDG with other stablecoins, including USDC, DAI, USDT, TUSD, PAXI on the decentralized exchange.

Marie Tatibouet, CMO at Gate.io commented:

Marie Tatibouet, Gate.io

Marie Tatibouet
Source: Twitter

Eth 2.0 staking demands higher technical expertise and requires a longer staking time. Moreover, running a validator on both the ETH1 chain and the ETH2 Beacon Chain at the same time, while maintaining a stable staking status is also required, or else funds being staked may be charged with penalties. Therefore, ETH2 staking is not suitable for everyone. Keeping up with innovative and user-friendly norms, Gate.io has built a flexible solution that enables users to earn a staking reward without needing to lock their ETH in ETH2 for a long time or worry about penalties.

Gate.io

More information on Gate.io’s ETH2 staking solution:

  • Gate.io will list ETH2 tokens and holding ETH2 tokens will be a certificate for users to participate in ETH2 staking. One ETH2 represents one ETH locked in ETH2 staking
  • Users can buy or sell ETH2 on USDT and ETH markets freely
  • Gate.io will distribute the net income (staking income minus cost) from ETH2 staking to ETH2 holders as ETH2 staking starts
  • The staking reward will be in the form of ETH2.0, allocated based on a users’ average ETH2 14-day holdings
  • The yearly reward percentage of ETH2 staking is related to the amount of ETH being staked
  • The yield tends to be higher at an early stage as less ETH is being staked. However, in the long term, the yield is expected to be stable around 5%-10%

Gate.io also listed Injective Protocol (INJ), TrustToken (TRU), OasisNetwork (ROSE), 32nd-largest DeFi project by TVL according to DeFi Pulse in addition to Roobee (ROOBEE) and Alpaca City (ALPA). The digital asset exchange is also launching a “Deposit and Trade Roobee” competition from December 4th until December 13th with a pool of 3100 USDT equivalents in rewards.

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Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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