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Ankr Staked ETH

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Discover Ankr Staked ETH's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ankr Staked ETH?

Ankr Staked ETH (ankrETH) is a reward-bearing token that represents staked Ethereum (ETH) assets. It allows users to earn staking rewards while maintaining liquidity and access to their assets. ankrETH tokens can be used in DeFi protocols for activities like yield farming, lending, and market making. The token's value increases over time as staking rewards accumulate, and it can be traded or exchanged for the original ETH with accumulated rewards.

How is Ankr Staked ETH used?

Ankr Staked ETH (ANKRETH) is a reward-bearing token that represents staked Ethereum (ETH) assets. It offers several benefits and uses:

  1. Instant Liquidity: ANKRETH provides instant liquidity for staked ETH, allowing users to connect it with DeFi platforms and earn additional rewards.

  2. Multiple Layers of Rewards: Users can use ANKRETH on DeFi platforms to multiply their earning potential in APY on top of their staking rewards.

  3. Low Impermanent Loss: Contributing ANKRETH for liquidity with tokens like ETH means a low risk of impermanent loss, expanding the upside of providing liquidity for a more stable and profitable experience.

  1. Compound Staking Rewards: The value of ANKRETH in the user's wallet increases daily as staking rewards accumulate, compounding the rewards.

  2. Supporting Ethereum: Staking ETH directly supports the Ethereum network and helps validate transactions. Ankr’s staking system distributes staked tokens intelligently across the Ethereum ecosystem to achieve optimal decentralization.

  3. Elastic Supply: Users can trade their ANKRETH tokens for their staked ETH anytime, providing flexibility in managing their assets.

  1. Trading and Transferring: ANKRETH can be traded, sold, or gifted, with the recipient inheriting the staking rewards.

  2. Cross-Chain Opportunities: ANKRETH can be bridged to different blockchains using Ankr Bridge, enabling users to explore more earning opportunities and a cross-chain staking experience.

These features make ANKRETH a versatile and rewarding token for users staking Ethereum with Ankr.

How do I store Ankr Staked ETH?

To store Ankr Staked ETH (ANKRETH) tokens, you can use a popular DeFi wallet like MetaMask. Here are the steps to follow:

  1. Install and Set Up MetaMask:

    • Ensure you are using a Chrome browser.
    • Install the MetaMask wallet extension and set it up in Chrome.
  2. Connect Your Wallet:

    • Visit the Ankr Staking Dashboard.
    • Click Connect wallet in the top-right corner of the page.
    • Choose MetaMask.
    • Select an account to connect and click Next.
    • Click Connect and wait for the connection process to finish.
  3. Add ANKRETH to Your Wallet:

  • Visit the Ankr Staking Dashboard.
  • Find your liquid staking token, click the three-dot menu, and click Token information.
  • Click Add ankrETH to wallet.

Alternatively, you can manually import the token in your wallet by copying and pasting the Contract address.

How to buy Ankr Staked ETH?

To buy Ankr Staked ETH (ANKRETH) tokens, you can follow these steps:

  1. Find a Reliable Centralized Exchange: Look for a trustworthy centralized exchange like Binance, where you can purchase Ankr Staked ETH (ANKRETH).

  2. Use a Crypto Aggregator: Key in Ankr Staked ETH (ANKRETH) in the search box of your crypto aggregator to identify the decentralized exchanges (DEXs) where it is available.

  3. Check Coinmarketcap: Refer to Coinmarketcap for more information on where to buy Ankr Staked ETH (ANKRETH).

  1. Meta DEX Aggregator: You can also use a Meta DEX aggregator like CoW Swap to buy and sell Ankr Staked ETH (ANKRETH) tokens.

By following these steps, you can easily purchase Ankr Staked ETH (ANKRETH) tokens and start earning rewards through staking and DeFi integrations.

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History of Ankr Staked ETH

Ankr Staked ETH (ANKRETH) is a reward-bearing token that represents Ethereum (ETH) staked through Ankr's liquid staking system. The token allows users to stake their ETH without needing to lock assets or maintain the required infrastructure, enabling them to continue participating in DeFi activities related to lending and market making.

ANKRETH was previously known as aETHc, and users who held aETHb tokens were advised to switch to ankrETH (ex-aETHc) as aETHb was no longer actively supported. The token's value increases over time as staking rewards accumulate, making it a low-cap, fully collateralized asset backed 1:1 by ETH staked on the Ethereum blockchain.

Historically, the price of ANKRETH in ETH has fluctuated. According to CoinGecko, the all-time high price of 1 ANKRETH in ETH was ETH2.0557, recorded on November 26, 2021. Over the last month, the price of ANKRETH has gone up by 0.20% against ETH, outperforming the broader crypto market.

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How Ankr Staked ETH works

Ankr Staked ETH (ANKRETH) is a liquid staking solution that allows Ethereum token holders to stake their ETH and receive liquid staking tokens called ankrETH. Here's how it works:

Staking Process
  1. Stake ETH: Users can stake their Ethereum (ETH) tokens through Ankr's staking infrastructure.
  2. Receive ankrETH: In return, they receive ankrETH tokens, which represent their staked ETH plus the accumulated staking rewards.
Key Features
  • Liquidity: ankrETH tokens provide liquidity, allowing users to access their staked assets without having to wait for the staking period to end.
  • Reward-bearing: ankrETH tokens grow in value daily to represent the accumulated staking rewards.
  • Transferable: ankrETH tokens can be transferred, sold, or gifted, giving users complete freedom of action.
  • DeFi Integration: ankrETH tokens can be used in various DeFi protocols, such as yield farming, liquidity pools, and vaults, to maximize profits.
Benefits
  • Unlock staked liquidity: Users can access their staked assets without waiting for the staking period to end.
  • Keep calm and DeFi on: Users can continue to participate in DeFi opportunities without missing out on staking rewards.
  • Complete freedom of action: ankrETH tokens can be transferred, sold, or gifted.
  • Income without hassle: Users do not need to run their own node or find a reliable validator, as Ankr handles the staking process.
Current Status
  • Redemption Ratio: The current redemption ratio is 1 ankrETH = 1.1 Ethereum (ETH).
  • Staked ETH: Over 55,844 ETH are staked with Ankr, with 4,976 stakers and an APY of 4.02%.
Security
  • Audits: Ankr's ETH Liquid Staking smart contracts have undergone external audits by Beosin Blockchain Security and Salus.
Supported Wallets
  • Hot and Cold Wallets: Ankr supports various hot and cold wallets, ensuring compatibility and ease of use.
Community and Resources
  • Community Forum: Ankr has a passionate, global community with resources available on Twitter, Telegram, Discord, and Medium.
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Ankr Staked ETH's strengths

Ankr Staked ETH (ANKRETH) offers several strengths:

  1. Reward-bearing Token: ANKRETH is a reward-bearing token that accrues value from staking yield, making it a lucrative option for stakers.

  2. Liquidity: ANKRETH tokens are designed to provide liquidity, allowing users to continue participating in DeFi activities like lending and market making while staking their ETH.

  3. Accessibility: Ankr Staking eliminates the need for users to lock assets or maintain infrastructure, making it more accessible to a broader range of users.

  1. Flexibility: ANKRETH tokens can be traded, sold, or gifted, providing users with complete freedom of action.

  2. Cross-chain Opportunities: Ankr Bridge enables users to bridge ANKRETH tokens to different blockchains, offering a cross-chain staking experience and maximizing earning opportunities.

  3. DeFi Integration: ANKRETH can be used on various DeFi platforms, allowing users to earn additional rewards through strategies like yield farming and vaults.

  1. Low Risk: Contributing ANKRETH for liquidity, especially with tokens like ETH, results in a low risk of impermanent loss, making it a more stable and profitable liquidity provision option.

  2. Elastic Supply: Holders can trade their ANKRETH tokens for their staked ETH anytime, creating a flexible and accessible staking experience.

These strengths make ANKRETH an attractive option for users looking to maximize their earnings while maintaining liquidity and flexibility in the DeFi space.

Ankr Staked ETH's risks

Ankr Staked ETH (ANKRETH) carries several risks. The most significant risk is security, as assets are locked away in smart contracts that can be susceptible to bugs, hacking, or other cyber attacks. This adds a level of counterparty risk, as users must trust the third-party provider to manage their assets securely.

Another risk is low liquidity, which can lead to de-pegging. If the liquidity in pools drops, the token can lose its peg, causing high slippage when swapping between assets. This can result in significant losses if investors cannot sell their staked assets when needed.

Hacks are also a major risk, as the smart contract holding the assets could be compromised, leading to theft of the original assets.

Additionally, there is a risk of validator slashing, which can occur if the liquid staking protocol chooses untrustworthy validators. This can result in the staked assets being penalized, impacting the user's rewards.

Furthermore, users may miss out on rewards if a validator they staked with is slashed, which is a protocol-level penalty for validator failure.

Lastly, Ankr takes a 10% technical service fee from the staking reward, which can reduce the overall returns for users.

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Did Ankr Staked ETH raise funds?

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Ankr Staked ETH's ecosystem

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Ankr Staked ETH’s team

  • Filipe Gonçalves: Chief of DeFi at Ankr, product owner of liquid staking, and leader of DeFi strategy.

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The fundamental analysis assistant for crypto value investors.

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