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Hord is expanding its product offering by introducing a liquid Ethereum staking platform. Hord will provide the Ethereum network with infrastructure in the form of validator nodes. Validators play a significant role in ensuring the security of the Ethereum network.
As there is a growing market for ETH staking & diversity amidst staking pools is lacking, the Hord team developed a liquid Ethereum staking platform. Hord’s ETH staking platform will not require a minimum staking amount and will offer attractive APRs.
Ethereum uses its native currency, Ether (ETH), as a form of payment for transactions on the network. Following Ethereum’s transition to a solely Proof-of-Stake consensus model as part of “The Merge,” users can validate transactions by staking ETH and earn rewards.
Staking ETH without the use of a staking platform or “solo staking” is possible, but exceedingly difficult. To “solo stake” ETH, the user needs robust technical know-how, 32 ETH to run a full node, and a dedicated computer with a 24/7 internet connection. Due to these strict requirements, many ETH stakers choose to use a staking platform instead of running a solo staking node.
Hord is launching a unique and liquid Ethereum staking platform with high APRs and no minimum staking requirements. Hord’s platform will allow users to stake ETH securely without the need to operate validator nodes independently.
As such, the entry barrier to stake ETH is reduced from 32 ETH to any amount the user wants. In addition to a lower entry barrier, Hord’s liquid ETH staking platform will offer some of the most competitive APRs available. The high APR is due to a combination of ETH rewards, maximum extractable value (MEV), and auto-compounding rewards.
When stake ETH with Hord’s platform will receive a liquidity token called hETH in exchange. The hETH represents the amount of ETH the user has staked combined with rewards the pool has generated. Due to this, the value of hETH will not be pegged to ETH, but greater than ETH.
The liquid token hETH will be tradeable on Hord’s DEX from day 1. hETH can also be redeemed for its value in ETH after the upcoming Shanghai hard fork.
Currently Hord’s Liquid ETH staking platform is in testnet phase and is advancing rapidly. The anticipated launch date to take place in Q1 of 2023.
Hord’s liquid ETH staking platform is one of many Hord products. For more, please view Hord’s roadmap.
Website: Hord.fi/
Twitter: twitter.com/HordApp
Telegram: t.me/hord_app
Announcements: t.me/hordnews
GitHub: github.com/hord
Reddit: reddit.com/r/HordApp/
