Enzyme asset managers can now stake any amount of ETH, track earnings in real time and help decentralise the Ethereum network with StakeWise V3.
Today, Enzyme is excited to announce a new integration with StakeWise V3, a liquid staking marketplace that enables stakers to participate in Ethereum’s Proof-of-Stake consensus mechanism on custom terms and accrue ETH rewards.
With more than 100k ETH staked, StakeWise will enable Enzyme asset managers to access some of the best ETH staking offers available on the market.
This means that asset managers, DAO treasury managers and companies will be able to earn transparent and reliable yield on ETH on the terms they want, with no minimum amount required for lock-up and withdrawal requests possible at any time.
What is StakeWise V3?StakeWise V3 is a liquid Ethereum staking marketplace that allows anyone to benefit from the rewards available on the Beacon Chain. StakeWise enables stakers to choose which node operators will run their validators and on what terms, allowing them to browse different infrastructure arrangements, staking fees, and MEV setups, and ring-fence their capital from other depositors.
As a non-custodial staking platform, StakeWise keeps users in control of their capital by allowing them to unstake ETH at any time. There is no minimum ETH requirement to stake with StakeWise and the platform does not charge staking fees, positioning itself as a public good.
With a focus on enhancing the capital efficiency of staking pools, StakeWise V3 implements auto-compounding of staking rewards, and introduces tokenless staking focused on tax efficiency. This, combined with its user-centric design, ensures that participants can optimise their staking yields without compromising on security or flexibility.
How does it work?Node operators active on the Ethereum network use StakeWise to deploy their own staking pools, known as Vaults, that feature on the StakeWise Vaults Marketplace. These Vaults are customised by the node operator(s) according to the terms they are willing to offer. Stakers can browse the different Vaults in the marketplace to find the best offers, and negotiate with the operators for personalised Vaults with bespoke terms.
Every Vault is an isolated capital pool with its own set of validators and performance metrics. Vaults can be Public or Private, Tokenized or Tokenless, and feature different approaches to infrastructure (e.g. # of node operators, cloud / bare metal, usage of Distributed Validators), staking fee, MEV setup (e.g. smoothing pool vs private MEV escrow, choice of relays), location, insurance etc. Vaults are non-custodial, meaning that node operators have no control over the staked funds, and are programmed to trigger Beacon Chain validator exits upon receiving unstaking requests.
Upon choosing a Vault, stakers can deposit any amount of ETH in it. For each new increment of 32 ETH collectively deposited by the users, a new validator is created and added to the Vault to earn rewards. All rewards and penalties generated by the Vault are auto-compounded and distributed proportionately among stakers in the Vault. Tokenized Vaults issue repricing Vault Tokens to stakers upon deposit, which grow in value as their stake in the Vault earns rewards. Tokenless Vaults have no identifiable tokens to represent staked ETH in the Vault.
Any stake in the Vaults can be made liquid on-demand with osETH, the liquid staking token of StakeWise V3. However, please note that at this time Enzyme does not support osETH minting by asset managers.
Why should you use StakeWise V3 on Enzyme?Enzyme’s ever-growing suite of DeFi integrations enables asset managers of all sizes to run sophisticated on-chain strategies.
Whether you’re a DAO looking to earn yield on your treasury or you’re an asset manager seeking to generate returns for your depositors, Enzyme’s integration with StakeWise V3 now provides you with a simple way to take part in Ethereum staking.
Let’s take a look at some of the benefits this integration brings for Enzyme users.
Earn yield on ETH: If you’re a vault manager sitting on idle ETH, you are now able to earn steady yield on those assets and put that ETH to work. Currently, StakeWise Vaults are providing up to a 3.72% staking APR* after fees, but do note this figure is likely to fluctuate (accurate on date of publication*).
No minimum deposit required: For Enzyme users, StakeWise V3 will enable you to deposit any amount of ETH and earn yield on your deposit. Whether you want to deposit 0.1 ETH or 1,000 ETH, this added flexibility will open up ETH staking for all of our users.
Superior control of your capital: StakeWise Marketplace enables Enzyme users to find the best staking terms for their ETH, allowing them to pick the best operators, lowest fees, and most decentralised setups. Control how your ETH is staked and get better terms while enjoying a simple and safe staking process.
Liquid staking means opportunity: All ETH staked through StakeWise Vaults can be made liquid with osETH, the liquid staking token of StakeWise V3. While minting osETH will not be available at launch of this integration, we know that Enzyme users will value the capital efficiency and flexibility of having osETH when it becomes available.
Help decentralise the Ethereum network — The Ethereum liquid staking market is currently worth more than $16 billion, yet more than 80% of that is concentrated in the hands of Lido. By staking ETH through StakeWise, you can browse the best staking offers while helping take steps to decentralise the Ethereum network and minimise the risks of centralisation.
Who is this integration for?Now that we’ve explored some of the benefits, let’s take a look at which Enzyme users this integration will serve.
Solo Stakers: Individual participants who seek a user-friendly and efficient way to stake their assets can now leverage the combined power of Enzyme and StakeWise V3.
DAO Treasuries: DAOs looking to maximise their treasury yields can benefit from the streamlined staking processes and superior returns.
Institutional Investors: Organisations that aim to diversify their portfolio with staking can now do so effortlessly with this integration.
Asset Managers: Anyone running a vault on Enzyme who is interested in exploring the potential of ETH staking can now earn yield to benefit your depositors.
How do I get started?To start staking ETH with StakeWise V3 on Enzyme, follow these steps:
Connect your wallet to the Enzyme platform.Navigate to DeFi Protocols and select StakeWise V3.Follow the intuitive interface to begin staking and maximising your returns.For a deeper dive and more detailed information, please visit our documentation.ConclusionIn the dynamic world of LSTFi, Enzyme continues to remain at the forefront of innovation and plays an active role in fostering the decentralisation of the staking ecosystem. Our collaboration with StakeWise V3 is a testament to this commitment. Together, we are setting the pace for the next frontier in decentralised finance, where staking and asset management converge to offer users safe, efficient and attractive ways to earn yield on ETH.
For any queries or support, please don’t hesitate to reach out to our team below.
For business enquiries, please contact: luca@avantgarde.finance
For marketing enquiries, please contact: conor@avantgarde.finance
For support enquiries, please submit a ticket support request via the Enzyme Discord here.
