How to Participate in Non-Custodial ETH Staking with imKey?

How to Participate in Non-Custodial ETH Staking with imKey?

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 validator node.

If you have 32 or more ETH, you can choose the non-custodial staking solution and own a validator node at the Ethereum consensus layer.

Step-by-Step Tutorial for Non-Custodial ETH Staking with imKey

  1. Open imToken, click on the navigation bar in the top left corner to enter the 'Select Account' page, then click on the ETH account of the imKey hardware wallet.


  2. On the ETH wallet homepage of imKey, click 'Stake' to access the ETH staking page, then click 'Stake' again. Enter the number of validators you want to purchase. One validator requires a deposit of 32 ETH. After confirming the number of validators, click 'Next' to access the fee confirmation page.

     

  3. Choose the imKey ETH wallet address and confirm the fees. The fees are divided into four parts:

    • 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.

     

  4. Carefully read the risk terms. After verifying that they are correct, check the box to confirm the terms. Please note:

    • 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 HeirBox -es.


  5. After confirming the terms, the 'In-App signature' interface will be prompted. Click 'Request confirmation from imKey', and then confirm the authorization signature on your imKey.


  6. After the 'Creating Validators' process is completed, proceed to the request staking step. Click 'Request confirmation from imKey', and at the same time, confirm the payment information, recipient address, and gas fee on your imKey.

     

  7. 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 explorers:

Rewards Explanation

ETH staking earnings consist of two parts:

  • Staking rewards: Validators receive this reward for checking new blocks and “attesting” to 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. In addition, 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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