How do I stake and redeem ETH on EigenLayer?
What's EigenLayer?
EigenLayer is an Ethereum-based protocol that uses restaking to boost cryptoeconomic security. It allows Ethereum validators to reuse their staked Ether (ETH) to secure other protocols within the Ethereum ecosystem, thereby enhancing the security and trust of these protocols without requiring them to establish their own validator sets.
EigenLayer restaking allows you to use the staked ETH and secure additional decentralized networks, enhancing both security and potential rewards.
How do I stake ETH on Eigenlayer?
Head over to Grow > On-chain Earn and select ETH under the crypto list
Select ETH from the On-chain Earn main page
Select EigenLayer
Eigenlayer can be selected in the ETH pop-up menu. APRs are hypothetical and for illustration purposes only and actual stake rates may substantially differ.
Enter the amount of ETH to stake
Insert your preferred amount of ETH here
Confirm your order after reviewing the order details
Make your confirmation once the order details are finalized
After confirming your order, you'll be redirected to the subscription success page. You may proceed to other matters or view order details
How do I redeem ETH on Eigenlayer?
Note: the redemption process is subject to the protocol's withdrawal mechanics.
Review your existing orders under Assets > Grow > Earn
Select Earn that sits within the Grow section
Select your order and proceed to select Redeem
Select preferred ETH crypto and Eigenlayer restaking and redeem it
You'll be directed to the Order Details page after the redemption process, where you can review the redemption status
Check out your order details and make adjustments if necessary
If you're wondering how to use the On-chain Earn, visit here.