imKey hardware wallet now officially supports non-custodial ETH staking in imToken.
imToken’s 'non-custodial' solution is suitable for users with high requirements for asset security. This approach allows staking users to earn stable returns while ensuring maximum ownership and control over their staked assets, without the need to worry about the operational services of the validation node.
If you have 32 or more ETH, you can choose the non-custodial staking solution and own a validation node at the Ethereum consensus layer.
Step-by-Step Tutorial for Non-Custodial ETH Staking with imKey 👇
Get to Stake Page and Confirm the Validator Number
Choose the imKey ETH Wallet Address and Confirm the Fees
- Staking Amount: Each validator requires 32 ETH to be staked.
- Service Fee: InfStones charges a service fee of 0.2 ETH/validator/year for maintaining node operations.
- Block Reward Sharing: Automatically distributed proportionally each time additional block rewards are generated, with 80% allocated to the validator and 20% to the service provider.
- Gas Fee: The gas fee required to send the transaction. It varies depending on the real-time Ethereum network situation.
Note: The current service fee is 0.2 ETH/validator/year. Please refer to the service fee shown in your wallet when staking.
Carefully Read the Risk Terms. After Verifying the Correctness, Check the Box to Confirm the Terms
- The mnemonic phrase of your imKey ETH wallet will be used to retrieve the assets staked on the consensus layer. Therefore, back up your mnemonic phrase securely. You cannot retrieve the staked ETH principal and accumulated earnings if you lose your mnemonic phrase.
- For backing up your mnemonic phrase, it is recommended to use the imKey stainless steel mnemonic phrase HeirBoxes.
Sign the Contract In-App, and Confirm the Signature via imKey
Confirm the Details Shown on imKey
Wait for Consensus Layer Confirmation and Validator Activation
- After a successful transaction, wait for the consensus layer confirmation, which will take 12-18 hours.
- Once the transaction is confirmed on the consensus layer, the validator will be in a 'Pending' state, waiting for activation. You will wait for activation since only 900 validators are activated per day. As of press time, the activation waiting time is about four days.
- When the validator reads "Active" status, it means it has been activated and is generating rewards. You can check APR and accumulated earnings on the ETH staking interface.
- Beacon Chain browsers:
ETH staking earnings consist of two parts:
- Staking rewards: Validators receive this reward for checking new blocks and “attesting” if they are valid at the Ethereum consensus layer.
- Block rewards: When a validator is chosen to propose the next block, it can obtain the gas fees for all transactions in the corresponding block. It can also receive additional auction income through the block auction market.
You can learn more about the Rewards Structure of Non-Custodial ETH Staking Services.
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