Serenity aka Ethereum 2.0 is still in the testnet phase. Staking rewards will be available after the launch of mainnet. Anyone can stake in the Ethereum platform. However, the minimum staking amount is 32 ETH. Not everyone can dedicate such a large sum to staking. It is where services like EtherChest come to the rescue. It allows staking as low as 0.1 ETH, which is dubbed as a cubby. Over 8 ETH are already staked by 8000 community followers in the EtherChest community. Let us look at various aspects of the project and how it benefits the average investor.
Non-Fungible Tokens (NFT)
Non-Fungible Tokens (NFT) are custom tokens created upon staking purchase. These tokens are native to the Ethereum blockchain. These NFT comes with a 1 year Escrow period during which it cannot be exchanged for ETH. After the Escrow period, you can return NFT to the platform in exchange for ETH. Any remaining payouts will be paid out as well when surrendering the tokens.
Types of NFT
There are 3 main types of NFTs based on the amount staked- cubby, drawer & chest. Each cubby is valued at 0.1 ETH. A drawer is worth 10 cubbies or 1 ETH. A chest is worth 32 ETH, which is the standard staking amount in Ethereum 2.0. All types of NFT feature the same payout ratio.
Eligibility for entry
The eligibility for entry is the minimum amount and an Ethereum addresses. The minimum amount to stake is 0.1 ETH, which is called the cubby. Send the amount to any of the authorized agents. Fill out a valid Ethereum address where you would like to receive payouts/NFT.
Reach out to an authorized agent
The only way to purchase custom NFTs is through an authorized agent. You can reach out to them through Telegram. You can pick the Telegram link from menus on the homepage. Alternatively, you can fill out the contact form and wait till an agent reaches you.
Can i sell my NFT?
The stakes are tradable in the form of custom EtherChest NFTs. They can be traded in NFT marketplaces like Opensea.io.
How EtherChest manages payouts?
Each NFT contains purchase date, owner, and more information, which helps EtherChest to correctly map the payouts. For the amount on NFT you own, you will receive payouts accordingly. In case, you sold the NFT, the current token holder will receive the payouts. EtherChest has ways of validating purchases just like how private keys work. In the unfortunate event of token holders losing the NFT, EtherChest cannot pay them. Hence, always keep your NFT safe.
The company charges fees to pay for the servers and staff. They keep 10% of validator rewards and the rest is paid out directly to the users. It keeps the project sustainable and supports DAPPs on Ethereum blockchain.
Do I have a say in projects to choose?
You can vote for the projects to choose and develop. Voting rights give users a way to invest in a controllable future.
Is there a minimum guarantee on payouts?
Due to the nature of block validation, there are no fixed rewards or payouts. As per Ethereum guidelines, you can expect an APR of 4-10%.