New LST: ankrETH
Summary:
Ankr proposes to the Eigen Layer community the possibility to restake ankrETH
What is Ankr?
Ankr is a decentralized blockchain infrastructure that helps drive the growth of the crypto economy while powering a full suite of multi-chain tools for Web3 users. Our latest partnership with Microsoft and Tencent, helps our ambitions become a reality.
From RPCs, gaming SDKs, app-chains and Liquid Staking, Ankr is a core web3 infrastructure company for multiple chains and multiple protocols.
ankrETH: How Does it Work?
The process is simple: users deposit ETH on ankr.com, without a minimum ETH requirement. The deposited ETH is then staked in an Ethereum nodes through an Ankr, automatically without entering a locking period apart from the regular unstaking period depending on the Ethereum unstaking queue. In return, users receive an equivalent amount of ankrETH on the Ankr platform.
The Value of ankrETH:
ankrETH represents both the staked ETH and the future staking rewards. Over time, the issuance ratio of ankrETH to ETH decreases, meaning that 1 ankrETH becomes worth more than 1 ETH. This gradual increase in value creates an exchange rate where the amount of ETH received in exchange for ankrETH is equivalent to the time of the initial ETH deposit.
Benefits of Holding ankrETH:
Holding ankrETH offers various options for users. They can choose to accumulate rewards by holding onto their ankrETH or redeem it for real ETH at any time. In addition, ankrETH holders have the opportunity to provide liquidity in several liquidity pools across a wide range of chains where users will be able to take advantage of even more rewards and transaction fees. Furthermore, ankrETH can be utilized with DeFi products for staking and yield-earning activities, as ankrETH is listed and available on leading DeFi protocols.
Useful links:
• Website: https://www.ankr.com/
• Documentation: Ankr Staking – Ankr
• Github Page : Ankr · GitHub
• Twitter: https://twitter.com/ankr https://twitter.com/ankrstaking
• Reddit: https://www.reddit.com/r/Ankrofficial/
• Telegram: @ankrnetwork