Staking ETH with Ankr

#1

https://medium.com/ankr-network/stkr-provides-bulletproof-eth-2-0-staking-solutions-59cc13167a12

Hi everyone,

I have a question about staking Ethereum with Ankr. I am tempted to stake a bit of my ETH to start earning some passive income with it. Ankr let’s in a decentralised way, still owning our private keys stake from 1+ETH, They state that it is risk free for stackers,Has anyone used Ankr? How am I assured that there is no risks? How am I assured that Ankr as a crypto project will succeed and my ETH won’t be at risk or stuck in a pool? They say that they have an insurance fund in case the node does not respect the rules and the stake is lost. How do I verify that?

Thank you

#2

I’m not sure how to tell if the Ankr/Stkr app will work as described, or if there is some kind of possibility that they could refuse to honor the ankrETH turn-in after the staking period ends, but I can describe my experience:

I have staked 4.5 ETH on Stkr. I received 4.47 ankrETH in return, which I have staked at ONX for farming. I’m promised a ~12% return on my ankrETH when staking ends, so my 4.47 will be worth ~5 ETH for turn-in. I don’t have an option now, so that’s what I’m doing.

Here’s another scenario though. I’ve conversed thoroughly with the admins on Telegram, and they assure me you don’t have to stake your own ETH in order to obtain the rewards. You can by ankrETH on the market and obtain the same reward as if you staked ETH. At today’s price, you can spend the same $ I did staking 4.5 ETH and get 4.913 ankrETH, farm that on ONX like I am, and get 12% return on that: 5.503 ETH.

Ankr believes ankrETH will rise above ETH cost as the staking period gets closer, which is likely if everyone is thinking they can make a 12% return in a few weeks. OTOH, if the market drops and ankrETH is at a big discount to ETH 'cause people are trying to cash out, it might be a great buy and hold at that point.

What other ETH staking options are out there for those without 32 ETH to stake? Is Stkr really the best return, or the best safe return?

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#3

I guess we will always have to trust in Ankr but I will try to clarify that with them. Would like to know what happens to our Eth if Ankr suddenly ceases to exist.

I thought you would get more aETH for your ETH as they are currently around 100$ less.

I don’t know anyone that does a similar service to Ankr, I spoke with some people and they have their ETH locked on Binance or Kraken. But I would rather have on my ledger so I might do what you did. I will clarify what I have written in the 1st sentence with them

Thanks so much for your input

#4

By the way, I thought you already getting interest on the your aETH?

Aren’t you?

Thanks

#5

You don’t get ‘interest’ on your ankrETH on any regular schedule. Turn-in after staking period ends results in receiving ETH+ rewards, which is presumed to be ~12%, so turn-in of 5 ankrETH would give you ~5.6 ETH at turn-in time.

I am earning OnX for farming my ankrETH with ONX Finance, so there is that additional revenue stream.

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