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What is Hord Staking?

Ethereum mentioned a transition from a proof-of-work (PoW) consensus model to a proof-of-stake (PoS) model in its whitepaper which was released in 2014. PoW and PoS are two methods that blockchain networks use to reach consensus on the state of the ledger and confirm transactions.

The first phase of Ethereum 2.0, which introduced PoS to the Ethereum network, was launched on December 1, 2020. The final phase, dubbed, “the merge” took place on the 6th of September 2022. Since then, Ethereum has become a PoS blockchain exclusively.

Participating in Ethereum's proof-of-stake (PoS) staking on your own can be a complex and challenging process. Some of the main challenges include:

  • Technical complexity: Running a validator node and participating in Ethereum's PoS consensus process requires a certain level of technical expertise. You will need to set up and maintain your own Ethereum node, which involves configuring and securing the hardware and software required to participate in the network.
  • High upfront costs: In order to participate in Ethereum's PoS consensus process, you will need to "stake" a certain amount of Ethereum as collateral. The minimum amount required to participate is 32 ETH, which can be a significant upfront cost for many individuals.
  • Risk of losing staked collateral: If you act maliciously as a validator (e.g., by trying to validate invalid transactions), you risk losing your staked collateral. This can be a significant risk for individuals who are participating on their own and may not have the resources to absorb such a loss.
  • Limited rewards: The rewards for participating in Ethereum's PoS consensus process are distributed among all validators, so if you are a small validator with a relatively small amount of staked Ethereum, your rewards may be limited.

Why Stake ETH with Hord

Hord’s Ethereum staking platform is a service that allows users to earn rewards for participating in the process of validating Ethereum transactions. With Hord, users can stake their ETH via a secure smart contract and start generating large APYs. In exchange for staking ETH, users will receive hETH, a liquid token that represents the amount of ETH they have staked combined with rewards.

Unstaking ETH will be added in the near future with Ethereum’s anticipated Shanghai hard fork.

No Minimums - Unlike solo staking or other staking platforms, Hord has no minimums. Users can stake any amount of ETH they’d like and start generating rewards.

Easy to Stake - Hord offers a more hands-off approach and handles the technical details, such as setting up a node on behalf of the user.

Compounding Rewards - Hord offers the most competitive APRs by combining staking rewards, with compounding MEV rewards (maximum extractable value) into the ETH staking pool. 

Low Fees - The Hord ETH Staking platform will include low fees to compete with other staking pools.