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Your Guide to OPUS Pool: ETH staking for all

Chorus One
Chorus One
April 9, 2024
5 min read
April 9, 2024
5 min read

OPUS Pool, powered by Stakewise, enables you to stake any amount of ETH with Chorus One, mint osETH, and directly deposit into EigenLayer in one flow. With the launch of Delegation on Eigenlayer you can now easily delegate your restaked position to Chorus One with a single click of a button.

Not only that, users may bring in liquid staking tokens (LST's) from any external platform, including osETH, wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx, and directly restake with EigenLayer if they wish to do so.

Start using OPUS Pool to stake ETH. Visit  https://opus.chorus.one/pool/stake/  

OPUS Pool facilitates greater participation in securing the network but also allows a wider range of Chorus One stakers to earn rewards and gain access to a suite of benefits, including top-tier MEV yields, low fees, and the assurance of enterprise-grade security, among others.

Table of Contents
  • A note for investors
  • A note for institutions
  • Stake ETH
  • Mint/Burn osETH
  • Restake with EigenLayer
  • Delegate to Chorus One
  • Switching operators to Chorus One
  • Unstake from OPUS Pool
  • Claiming EIGEN Airdrop


A Note for Investors

Opus Pool brings in a host of benefits for users. Let’s take a brief look at what you stand to gain.

1. Stake any amount of ETH and mint osETH

OPUS Pool enables a user to stake any amount of ETH (no 32 ETH minimum requirements) and receive rewards instantly. Additionally, users have the ability to mint osETH, a liquid staking derivative, and use it in DeFi or deposit into EigenLayer to gain additional rewards directly on OPUS Pool in one go.

2. Low Fees

OPUS Pool sets itself apart from current liquid staking protocols by offering users the advantage of highly competitive staking fees. At just 5%, our fees are among the lowest in the industry, making it more accessible for a broader spectrum of users to stake their ETH and earn rewards.

3. Top-tier MEV Rewards

As pioneers in MEV research, our latest ace, Adagio - an MEV-Boost client, allows for more efficient interactions with Ethereum’s transaction supply chain, directly enhancing MEV rewards for stakers. Fully integrated with OPUS Pool validators, Adagio ensures that anyone staking on OPUS Pool can benefit from these increased MEV rewards.

Want to learn more about Adagio and its mechanics? Read all about it here.

4. Restake osETH, stETH, cbETH, rETH with EigenLayer in One Go.

OPUS Pool offers a unique feature: users can deposit not only osETH minted through OPUS Pool but also liquid staking derivatives like stETH, cbETH, and rETH minted on other platforms, directly into EigenLayer.

A Note for Institutions

‍ The OPUS SDK: In addition to the benefits mentioned above, our Institutional clients can leverage the OPUS SDK to integrate ETH staking directly into their UI, providing their customers with all the benefits of the OPUS Pool seamlessly. To know more, please reach out to staking@chorus.one.

Now, let’s move on to the guide.

Stake ETH

1. To start staking, head over to https://opus.chorus.one/pool/stake/ and connect your wallet.


2. Select your desired wallet. Note that you can use WalletConnect if you want to connect through Ledger Live.

3. Once connected, make sure you are on the Stake tab. You can see all the tabs on the left-hand-side of the screen.

3. Enter the amount you would like to stake. You can see the estimated amount of daily/monthly/yearly rewards you will earn with this amount of stake.

4. Hit Confirm and Stake button and sign the transaction in your wallet

5. Congratulations, you have now successfully staked your ETH! As a next step you can go to the dashboard to look at the summary of your staking position or you could head over to the Mint osETH section under Staking tab to mint some liquid staking tokens for your staked position

Mint and Burn osETH

1. In case you want a liquid token representation of your stake you can head over to the Mint osETH section under the Staking tab on the left of the screen. You will see the amount of ETH you have staked. You will also see the amount of osETH you have already minted (if any).


2. Enter the amount of ETH you would like to use to mint osETH.

3. Click on Mint button and approve the transaction in your wallet

4. Congratulations! You have successfully minted osETH for your staked ETH. You can now head over to the dashboard to view your staked position and osETH summary. You can alternatively restake your osETH to Eigenlayer.

5. In case you want to reverse the minting process, you can burn your osETH to get ETH back. Select the Burn osETH section under the Staking tab on the left menu, enter the amount you would like to burn and hit Burn

6. Once you click on Burn, you will be prompted to sign the transaction in your wallet. Upon signing, you will have successfully completed the burn process

Restake with Eigenlayer

1. To deposit your osETH, or any accepted staked ETH into EigenLayer including wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx, click on ‘Restake’ in the menu bar and select the asset you wish to deposit.

2. Note: EigenLayer intermittently pauses staking when the limits for restaking have exhausted. They usually announce the lifting of the limits on their Twitter and discord. You might encounter the following screen when there is a pause by the Eigenlayer team.

3. In case deposits into Eigenlayer are live you may select the LST that you possess, enter the desired amount that you would like to restake and hit the Restake button

4. You will be prompted to approve the restaking transaction first and then finally sign the restaking  transaction in your wallet.

5.Once you sign, you will have  successfully restaked to Eigenlayer. In case you delegated to Chorus One operator earlier, your restaked assets will be automatically delegated. If not, you can go back to the dashboard to delegate your assets to Chorus One or view the summary of your staked position.

Delegate on Eigenlayer to Chorus One operator

1. Eigenlayer recently launched their delegation manager contract and enabled staker delegations. This will allow anyone with restaked ETH or restaked LSTs to delegate their restaked position to an operator of their choice. To delegate your stake to Chorus One, head over to the dashboard by clicking on the Dashboard button on the left navigation bar.

2. In case you have not already delegated to another operator, you can click on the Delegate to Chorus One button.

3. You will be prompted to sign a transaction in your wallet. Once you sign, you will see the following screen. Congratulations your restake position is now successfully delegated

4. Alternative, you can go directly to Eigenlayer App - https://app.eigenlayer.xyz/operator and search for Chorus One operator

5. Click on the Chorus One card that shows up

6. If you have not previously delegated to any operator, you will see a Delegate button on the right of the screen. You will also see a message “You currently have a restaked balance that is not delegated”. Click on the delegate button and sign the transaction in the wallet.

7. Congratulations you have successfully delegated your stake

Switching operators on Eigenlayer

Switching node operators means moving your restaked funds from supporting the original node operator supported AVSs to Chorus One supported AVSs.

  1. In case you have already delegated to some other operator and want to switch to Chorus One. You can visit https://opus.chorus.one/pool/dashboard/ and you will see a Switch Operator button.


Note: Switching operator requires you to sign 3 transactions. The first transaction queues the withdrawal of your restaked assets. This is a prerequisite of the Undelegation function. The second transaction undelegates your restaked position. The final transaction delegates to Chorus One. You will need to restake your assets again after you switch the operator. You may not be able to restake your assets until Eigenlayer reopens the deposit cap.

2. Click on Switch Operator and sign the transaction in the wallet

3. You will see another transaction pop up to undelegate from the operator. Sign the undelegation transaction

4. Finally you will see your wallet prompt you to sign the delegation transaction which delegates to Chorus One. This is the final transaction in this process

5. Once the transaction is confirmed you will have successfully delegated to Chorus One. Make sure to go back to the restaking tab and start restaking your assets

Unstake from OPUS Pool

*Note: For the time being, please use https://app.eigenlayer.xyz/ to unstake osETH from EigenLayer.

1. To unstake from OPUS Pool, go to the Unstake Section under the ‘Staking’ tab in the menu on the left navigation bar.

2. Enter the amount of ETH you would like to unstake and hit the Unstake button

Note: If you minted osETH at any point any time against your staked position, you might have to burn that amount to unstake all your ETH

3. You will be prompted to sign the unstake transaction in your wallet. You have successfully unstaked your position. Once you unstake your ETH enters the withdrawal queue. You will see a progress bar right below the success message that lets you know the status of your withdrawable stake. Once it becomes ready for withdrawal you will see a button to claim the stake back into your wallet.

4. You can come back to the Unstake tab at a later point and check the status of your withdrawal.

Unstake from Eigenlayer
  1. To unstake your assets from Eigenlayer go to the Unstake section under the Eigenlayer Tab

2. Select the LST you want to unstake and enter the amount

3. Hit the Unstake button and sign the transaction in the wallet

4. You have successfully unstaked.

Claiming EIGEN Airdrop
  1. Visit the claim page - https://claims.eigenfoundation.org/ and click on ENTER to start the claim process

2. You will be prompted to connect your wallet. Click on the button and select your preferred wallet

3. You will be shown a screen with terms and conditions. You will need to sign the terms and conditions using your wallet

4.

5. After you sign you will be shown your connected wallet. Click on NEXT to view your Claim Eligibility

6. You will be shown the number of tokens you got.

7. Click on CLAIM NOW button to initiate the claim transaction. Go ahead and sign it in your wallet

8. Once you sign the transaction you will see the success screen as shown below

9. Your EIGEN token will start reflecting in your wallet. You can see the token contract here - https://etherscan.io/token/0xec53bf9167f50cdeb3ae105f56099aaab9061f83

10. Congratulations, you have claimed your EIGEN drop. In the next few steps, we will take you through how to restake these tokens and delegate to your favorite operator to boost your gains

11. Now you have two options. You can either use the EigenLayer guide and their instructional video OR, you can simply connect with OPUS Pool here - https://opus.chorus.one/pool/restake/ and go to the Restake page under the Eigenlayer tab.

12. You will see your EIGEN token allocation. Select the token and enter the amount you want to restake

13. Once you click on Restake you will be asked to Approve first before staking

14. Once you approve, you will be prompted to sign the actual restaking transaction

15. Congratulations you have restaked your EIGEN tokens. If you already delegated to Chorus One earlier you will see the following


If not, you can scroll up and see how to delegate to Chorus One operator

16. You can go back to the Opus dashboard to look at your assets

If you are not eligible for the airdrop you might see the following screen. Stay tuned to Chorus One twitter to get the latest updates.

Resources

  1. https://chorus.one/articles/eigenlayer-unlocks-delegations-as-mainnet-beckons
  2. https://chorus.one/articles/on-the-risks-for-restaking-eth-with-chorus-one-through-eigenlayer
  3. https://chorus.one/articles/opus-pool-under-the-hood-an-in-depth-guide-to-restaking-oseth-on-eigenlayer-with-chorus-one
  4. https://chorus.one/articles/eth-native-restaking-how-to-deposit-staked-eth-to-eigenlayer

About Chorus One

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. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.