Step 1: Visit the EigenLayer Dapp and create an EigenPod.
Step 2: Login to your OPUS ‘Dedicated’ account at https://opus.chorus.one/.
Step 3: Create your validator/s with the withdrawal credentials pointing to your EigenPod.
Step 4:Once your validators are live, you can restake your ETH on EigenLayer.
Step 5: Click on ‘Restake’.
Step 6: Confirm transaction!
Step 7: Delegate to Chorus One.
Eigenlayer revolutionizes the Ethereum network by introducing "restaking," an innovative concept that enhances cryptoeconomic security. This novel approach allows ETH, whether staked directly or via liquid staking tokens like stETH, rETH, cbETH, and LsETH, to be rehypothecated within the consensus layer. This enhances the utility and security of staked assets.
Users engaging in Ethereum staking, either directly with ETH or through various liquid staking tokens (such as stETH, rETH, cbETH, and LsETH), have the opportunity to participate in EigenLayer's smart contracts. By opting to restake their assets, users can amplify cryptoeconomic security beyond Ethereum itself, extending it to a multitude of other applications on the network.
To learn more about EigenLayer and its technology, please visit https://www.eigenlayer.xyz/
Note: Restaking LSTs with EigenLayer is currently on hold and will resume once the deposit cap is raised. In the meantime, you are welcome to use OPUS 'Pool' to stake any amount of ETH and mint osETH. Visit OPUS 'Pool' here.
Engaging with EigenLayer by depositing your staked ETH enables you to accumulate ‘Restaked Points’, reflecting your contribution to the EigenLayer ecosystem's collective security. These points are calculated based on the duration and amount of your staking participation.
By accumulating ‘Restaked Points’, you not only enhance your rewards on your staked ETH but also become eligible for potential airdrops!
Note: Please be aware that although staked ETH deposits into EigenLayer are currently accepted and can be withdrawn at any time, rewards can only be redeemed after the launch of EigenLayer’s Mainnet and once the Activated Validator Services (AVSs) utilizing EigenLayer's pooled security become operational.
Chorus One makes the staking and restaking process straightforward and efficient.
Users can restake ETH with Chorus One using OPUS ‘Dedicated’, our ETH staking platform that supports the customization of validator withdrawal addresses to enable native staking with your EigenPod.
This underscores the importance of judiciously selecting a node operator to delegate your staked ETH to, taking into account their specific restaking and AVS strategies.
Additionally, please be aware that before restaking your ETH deposit's, withdrawal address is set only once and cannot be changed after the staking deposit. Please Choosing EigenPod Address as the withdrawal address means you accept the risks of the EigenLayer smart contract and acknowledge that Chorus One cannot alter this address.
Below, we have provided a step-by-step guide to help walk you through the process of setting up an EigenPod, creating your validator/s, depositing staked ETH into EigenLayer, and delegating to Chorus One.
Step 1: To start restaking your ETH to EigenLayer, you’ll need to first create an EigenPod on EigenLayer by visiting EigenLayer Dapp.
To begin restaking, you will first need to create an EigenPod address. This address will connect with your wallet and be used as the withdrawal address when you create a validator from the stakefish Ethereum staking dashboard.
1. Start by visiting EigenLayer Dapp and connect your wallet, making sure you’re connected to the Ethereum Mainnet. You will be prompted to sign the terms of service using your wallet. Click on Sign to enter the EigenLayer Dapp
2. Then proceed to connecting your wallet.
3. Once you have connected your wallet, click on ‘Restake your Tokens’.
4. Next, click on ‘Create EigenPod’.
The EigenPod address created is responsible for all subsequent restaking and withdrawal operations from that EigenPod.
5. Upon submitting the transaction for creating Eigenpod you will see Metamask pop up.
6. Once you have confirmed the EigenPod creation on your wallet, you will see the following screen:
7. Your EigenPod Address is now available, and will have to be used as your withdrawal address on the OPUS portal. Copy the EigenPod Address into your clipboard.
Step 2: Restaking with Chorus One
8. Login to your OPUS ‘Dedicated’ account by visiting https://opus.chorus.one/portal/login
9. Once you have entered the portal, the first step is to connect your wallet.
10. Once you have connected your wallet, you’ll need to create a validator by clicking on ‘Stake ETH’.
11. Select the amount of ETH you would like to stake.
12. Then, make sure to click on ‘Change rewards withdrawal address’, and click on ‘Edit’ .
13. Now, paste the EigenPod Address as your Withdrawal Address.
14. Once you have confirmed the addresses, click on ‘Confirm and Stake’
15. Once you confirm your transaction on your wallet, you have set up your ETH validator Chorus One.
Step 3: Restaking in Eigenlayer
16. If you have correctly set your withdrawal address as the EigenPod address, the Eigenlayer interface will start reflecting your total staked amount as restaked into Eigenlayer. Note: You do not have to perform any extra steps for restaking.
17. Note: At present, you can only deposit your staked ETH into EigenLayer; the option to delegate to node operators is not yet available.
We will notify you once the delegation feature on EigenLayer becomes operational, indicating that it's time to delegate your restaked ETH. At that point, you will be able to delegate to Chorus One with just a few clicks.
18. To delegate, click on ‘Dashboard’ and then ‘Delegate your Stake’.
19. Then, search for ‘Chorus One’ validator and click on ‘Manage’.
20. Then, click on ‘Delegate’.
21. Once you confirm your transaction on your wallet, you have successfully delegated to Chorus One!
To get started restaking, please visit the:
EigenLayer dApp at https://app.eigenlayer.xyz/
OPUS ‘Dedicated’ at https://opus.chorus.one/
If you’re interested in staking/restaking with Chorus One, or learning more, simply reach out to us by responding to this email and we’ll be happy to get back to you!
Here are some useful resources for your benefit:
Additionally, if you’d like us to share further resources on any topic, please let us know!
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
