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You might have heard that the Shapella hard fork will arrive on Ethereum Mainnet April 12, 2023 at 10:27:35 PM UTC. This will enable the accumulated protocol rewards from the past ~two years to become liquid and allow validators to exit their stake.
Want to hear more about how Blockdaemon can help you with your Blockchain journey? Contact us today to chat more about our blockchain solutions, or read on to get a closer look at what’s new.
In summary, the Shapella update completes Ethereum's transition to Proof-of-Stake, which began with The Merge on September 15, 2022.
For a comprehensive understanding of how it works, visit our updated FAQ page.
The Blockdaemon team has worked tirelessly to make these exciting changes easily accessible for you. From re-staking accumulated rewards, exiting validators, or staking $ETH for the first time, we have you covered!
We support the full validator lifecycle on Ethereum with our staking tooling, also on Goerli testnet:
We can also supply the required 32 $GoerliEth testnet tokens; simply contact your Technical Account Manager (TAM).
For our large institutional customers, we generally recommend integrating with our Blockdaemon staking API. Besides staking $ETH, it also supports $SOL, $DOT and $MATIC and we continuously add new assets. The API speeds up the time-to-rewards significantly by cutting down operational efforts, and it will save you costs by batching up to 100 validators into one transaction.
However, there are instances where you may not want to integrate programmatically with your own systems, such as when testing Ethereum staking. You can then simply stake $ETH via the easy user interface in our Blockdaemon app. And since we recently added WalletConnect functionality, this self-serve option has become even more powerful. You can now use most leading wallets such as Metamask or Ledger to fund your validators.
For entities staking any of their crypto assets, tracking and accounting for their rewards is key. So we included the reporting capabilities into our staking API from the start. It allows you to query all rewards from any validator. Whether you need daily/weekly/monthly data, you can query historically and get a full breakdown of Ethereum protocol rewards, transaction fee rewards and MEV rewards.
For those who prefer a graphical user interface, our Ethereum rewards dashboard is the perfect solution. The dashboard visually presents the rewards API data, allowing you to export the current and previous month's data as a CSV file for in-depth analysis or importing into your accounting software.
Additionally, our dashboard provides transparency into your validator’s status. This allows you to monitor your validators' lifecycle, from activation to exit.
At the heart of the Shapella fork mentioned in the beginning is the enablement of withdrawals, of course.
Partial withdrawals, which transfer accumulated protocol rewards to the designated withdrawal address, occur automatically within the protocol. For more details, refer to our FAQ.
For full withdrawals, i.e. completely exiting a validator to reclaim the 32 $ETH collateral per validator, we again offer various options:
We anticipate an increased influx of $ETH, especially from institutional clients. Some were held back by the inability to unstake their assets, which is now resolved. Others find encouragement in the core developers' timely delivery of this milestone following The Merge, as well as the promising scaling roadmap ahead.
With the current 15% staking rate of $ETH, there's ample growth potential, especially when compared to other PoS networks. Moreover, as $ETH issuance becomes net negative, the reward rate will be even more enticing.
Blockdaemon's Historical Annualized Reward Rates since The Merge showcase our top-tier performance among institutional staking providers!
Reach out to us today to explore the optimal way to begin your journey: