Summary
A technical in-depth guide of our OPUS Pool to demystify pooled staking with Stakewise and restaking osETH on Eigenlayer with Chorus One.In a nutshell, the steps are as follows:
These simple steps will get you ready to participate in the restaking ecosystem. If you’re interested in reading more about what happens in each step, below we will unravel what happens under the hood.
Go to Opus Pool, connect your wallet and deposit some ETH into our Stakewise vault. Traditional staking usually requires a staker to deposit 32ETH to spin up a validator on Ethereum in order to start earning rewards. Our 1-click staking experience enables users to stake any amount, powered by Stakewise. Stakewise v3 offers a permissionless, non-custodial pooled staking solution enabling any node operator to create a “vault”. A vault is essentially an isolated staking pool managed by the node operator and providing an automated process for ETH deposits, reward distribution, and withdrawals. You can learn more about Stakewise in our extensive guide here.
Under the hood: On a more technical level, when you stake into our Stakewise Pool, the flow works as follows:
A user deposits ETH into our MAX-MeV Stakewise vault. Once enough ETH has accrued (32 ETH), we can deposit a new validator in our vault. This is done by running an additional piece of software, stakewise v3-operator, alongside our usual Ethereum validator infrastructure, which listens to Deposit events and initiates the validator registration process. This architecture offers some very unique features. For one, the permissionless onboarding. Stakewise makes it possible to create your own vault with customized experiences, such as a private vault- only allowing stake from whitelisted addresses, a public vault- allowing stake from everyone, MEV smoothing and many more. Secondly, the ability to initiate a forced-exit by the Stakewise DAO. The Ethereum protocol requires validator exit messages to be signed with the validator signing key (the key held by the node operator required to operate the validator for signing blocks and attestations).
This means that, until EIP-7002 is implemented to support signing exit messages with withdrawal credentials (the key the staker holds to withdraw their funds), users depend on the node operators to exit validators on their behalf. To remediate this potential attack vector in a fully permissionless environment, there are certain steps a node operator must go through when registering a new validator. They submit shards of their signing keys to all Oracles through a process known as Shamir-secret sharing, a secret sharing algorithm which enables trustless and secure sharing of distributed, private information. Moreover, the pre-signed exit transaction messages are sent to the oracles in an encrypted manner. This allows the DAO to exit a validator on their behalf, should a node operator go rogue. Once oracles have approved registration, the operator sends the validator registration transaction to the so-called Keeper contract- essentially the brain in the architecture- which executes the deposit on-chain. EIP-7002 is still in its design phase, but it will open up new solutions to remove the need for Oracles by enabling the execution layer to trigger validator exits under certain conditions.
After a successful validator registration process, we’re ready to run a validator and collect rewards in our vault. Similarly to other liquid staking protocols, Stakewise relies on several oracles to fetch rewards from the Beacon Chain. Since The Merge, Ethereum’s architecture consists of the Consensus Layer (“Beacon Chain” which contains the consensus state and validator management) and the Execution Layer (“the EVM” which handles execution payloads, maintains a mempool of transactions). While combining both layers facilitated an easy transition to a Proof-of-Stake chain, it left the communication between both layers via Engine API somewhat limited- the Consensus Layer can query the Execution layer, but not the other way round. Essentially this means there’s no trustless way for the EVM to connect to the Beacon Chain to e.g. fetch validator rewards data. As a workaround, Stakewise employs trusted Oracles which regularly fetch rewards data from the Beacon Chain and vote for the rewards/penalties from all vaults. The vault rewards are saved as a Merkle tree and uploaded to IPFS, e.g see this example. The Merkle root is saved in the Keepers contract, again, the brain of our architecture. If you’re not familiar with Merkle trees, proofs and roots, they are one of the founding blocks of how Ethereum works, here’s a recommended read.
Essentially, it’s a data structure that helps us verify data consistency and make efficient proofs of inclusion (Merkle-proofs) to verify a piece of data is in the tree. More concretely, since the Merkle root is stored in the Keepers contract, it’s easy to verify that the stored Merkle tree hasn’t been tampered with.
To keep a vault’s state up to date, the Keeper contract needs to be “harvested”, meaning that the vault can fetch the Merkle root from the Keeper and derive validators rewards/penalties to update its state. If the state isn’t updated in a specified timeframe, any user interaction will be blocked.
With EIP-4788, which is implemented in the upcoming Dencun Upgrade (currently being rolled out to all testnets), the parent (previous) beacon block root will be included directly into the execution block enabling the EVM to access the block root from a trusted source, and thus removing the need for an Oracle and instead, enshrining it in the protocol. The way it will work is similar to the implemented workaround- the parent beacon block root represents the hash of the entire header of the previous block. A smart contract deployed on Ethereum will hold a limited number of parent beacon block roots, such that the execution layer can derive the consensus state in a trustless manner.
With this foundational knowledge in mind, let’s look at a specific example transaction of someone depositing 0.01 ETH into our Stakewise vault:
You can see the address which deposited 0xe46825... calls the deposit function on the Chorus One vault address 0xe6d8d8… . As we mentioned in the previous section, the v3-operator listens to DepositEvents emitted. Looking at the event logs, we get a good glimpse into what happens when you deposit into a vault:
The address is recorded along with the amount of your stake (assets), resulting in a number of “shares”which are calculated as follows: assets * total shares in vault / total assets in vault, see contract code for reference. The calculated shares will be the indicator how much of the rewards accrued by the Ethereum validator will be paid out to the staking address.
Once you’ve deposited successfully in our Stakewise vault, you can go ahead and mint your osETH in 1-click. The minted osETH should be visible in your wallet after the transaction was successful. If it’s not visible, you may need to add the token manually, e.g. for MetaMask see this resource.
Under the hood: As mentioned above, Stakewise offers a liquid staking token called osETH to provide liquidity to its stakers. This is a fantastic improvement on the staking experience, because you get a representation of your staked ETH which you can use to earn additional yield in the DeFi world. During vault setup, a node operator may choose to configure a vault that allows to mint an ERC20 token or whether the vault is tokenless. The issued liquid staking token- osETH- is overcollateralized, meaning the underlying assets in the vault are worth more than the osETH issued in order to cover potential losses from slashing. The biggest risk for staking is the risk of getting slashed, e.g due to double signing, which could result in losing part of the stake. Slashing is usually the consequence of bad key management practices that optimise for speed rather than consistency. It’s therefore important for node operators to apply sound security and key management practices, in order to minimize the risk.
One interesting feature of osETH is that it has a built-in slashing protection mechanism for its stakers. During the minting process you might have noticed that you can only mint up to 90% of the staked ETH. The excess backing insures stakers against poor staking performance or slashing events. Such penalties are absorbed by the excess backing.
To keep track of this, Stakewise defines a certain parameter known as “position health” which monitors the value of osETH minted relative to the value of their ETH currently staked in the Vault (see in screenshot above). The value can be Healthy/Moderate/Risky/Unhealthy. A “Healthy” position means that minted osETH doesn’t exceed 90% of the staked ETH. If the value of minted osETH grows faster and suddenly exceeds 92% of the staked ETH in the vault, the position status will move to “Unhealthy”. Let’s look at a concrete example: Imagine a user minted osETH against a staked position worth 100 ETH in Vault X. Suddenly, Vault X decided to increase its fees much higher than other vaults. During an incident, the node operator was forced to migrate their keys and started producing inconsistent attestations and downtime causing inactivity leaks all resulting in penalties and lower profit accrued in the vault. On top of that the bull market hits and demand for Ethereum validator exceeds current supply making the validator activation queue extremely long, but still growing overall TVL. A month later the minted osETH is now worth 92.01 ETH, making the user's position status "Unhealthy" and opening up for liquidation because the value of minted osETH relative to their ETH stake exceeds the liquidation threshold, i.e. is >92% enabling the DAO to liquidate a vault (if you remember, they have the ability to exit validators on a node operator's behalf), in order to ensure the excess backing of osETH.
The final step in our OPUS Pool journey let’s you restake your freshly minted osETH and other liquid staking tokens with EigenLayer.
Now what’s Eigenlayer and why will it bring more yield? To sum it up: “Restaking offers stakers the flexibility to contribute to the security of multiple networks, potentially earning rewards, verifying trust, or engaging in blockchain events. Users that stake $ETH can opt-in to EigenLayer smart contracts to restake their $ETH and extend cryptoeconomic security to additional applications on the network”. To read more about how it works, head to our blog article on Eigenlayer.
Under the hood: As of the time of writing, no AVS are live on mainnet yet. Until the EigenLayer protocol goes live with EigenDA (AVS developed by the EigenLayer team), restakers will receive restaked points as a measure of the user’s contribution to the pooled security, while securing the opportunity to be rewarded as an early restaker. Once AVSs go live, you will be able to delegate to Chorus One and receive rewards from your restaked ETH or Liquid Staking Tokens. This graph below shows what will happen once we enter this Stage:
The (re-)staker deposits their osETH (or other Liquid Staking Tokens) into the EigenLayer StrategyManager contract, which is responsible for accounting and allowing restakers to deposit LSTs into the given strategy contract. When users deposit into the StrategyManager, the funds are transferred to the respective LST’s StrategyBaseTVLLimits contract e.g. osETH or stETH, which returns shares proportionally to the users stake. The number of shares is calculated using an internal exchange rate which depends on the total number of deposits.
Here’s an example transaction of a user depositing osETH into the StrategyManager via our OPUS Pool. The event logs show the address where the funds were deposited from (depositor), the address of the token contract (in this case osETH token contract), and the address of the strategy contract (the address of the osETH strategyBaseTvlLimits contract).
Once the AVSs go live on mainnet, restakers will be able to delegate their LSTs to Chorus One. This is done by calling a function on the DelegationManager which manages delegation and undelegation of the stakers to operators. As of now, this functionality is paused, so stay tuned for the next EigenLayer mainnet upgrade and don’t miss your chance to delegate your restaked tokens to your favourite node operator.
A step-by-step guide to staking ETH on OPUS Pool
Restake with EigenLayer Seamlessly via Chorus One's OPUS Pool: A Detailed Guide
Learn more about Adagio, Chorus One’s pioneering Ethereum MEV-Boost client
MEV Max - Introducing Chorus One’s Liquid Staking Pool on Stakewise V3
Considerations on the Future of Ethereum Staking
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.
After what might have been the most anticipated launch so far, we're thrilled to be part of the continued innovation of blockchain technology by championing Dymension, as they work to pioneer the 'Internet of RollApps' with their unique modular features. Chorus One runs a public validator node and has also invested in Dymension through Chorus Ventures.
Dymension makes it easy for anyone to create and deploy their own blockchain, while providing its users the infrastructure and flexibility to scale and compete with other modern-day blockchain implementations.
In this guide, we'll cover what Dymension is and how it's pushing the boundaries of blockchain capabilities.
Unlike traditional blockchains that integrate data availability, consensus, settlement, and execution into a single layer, Dymension adopts a modular approach. This innovative method allows delegating one or more of these components to external chains, significantly enhancing performance, scalability, and efficiency.
Dymension aims to improve upon the current reliance on shared bandwidth systems used by many popular blockchains by using a multi-layer blockchain protocol. Consisting of a network of modular blockchains, known as "RollApps", these blockchains are powered by the Dymension Hub which is responsible for both consensus and settlement.
While initially the Dymension team will oversee RollApp approvals, the network aims to evolve into a permissionless ecosystem with the ultimate goal of serving as a decentralization router that connects RollApps to the crypto economy. In the long run, this will allow Dymension to be a "Internet Service Provider" for crypto and blockchain technologies.
To further detail its architecture, Dymension utilizes the Cosmos SDK for interoperability across blockchains, enabling RollApps to efficiently communicate and transact. The use of Tendermint Core for consensus ensures high security and fast transactions across the network. This technical foundation allows Dymension to support a wide range of applications, from finance to gaming, by providing developers with the tools to create highly scalable and customizable solutions.
As Dymension evolves, its architecture is designed to support a growing ecosystem of decentralized applications, ultimately facilitating a seamless connection between users and blockchain services on a global scale.
Dymension's unique proposition lies in its sophisticated modular architecture, designed to decentralize and optimize the components of blockchain functionality. By enabling external chains to handle aspects like data availability, consensus, and execution separately, it aims to not only significantly boost performance but also provide improved scalability and efficiency for all.
Here's how the Dymension team explains the ecosystem:
Dymension is similar to a full-stack web application where users interact with RollApps (front-end), Dymension (back-end) acts as the coordinator for the ecosystem, and the data availability networks (database) provide a place to publicize data.
Using the Cosmos SDK, Dymension incorporates a staking mechanism that enables participants to stake or unstake tokens with validators. This feature is central to maintaining the security and integrity of the network, allowing stakeholders to contribute to the ecosystem actively.
To kick off Genesis Rolldrop Season 1, Dymension is working to incentivize its users and builders by providing a significant allocation of tokens to pay tribute to three verticals within crypto, culture, money, and tech.
The tokenomics ($DYM) as of Feb 6th is as follows:
Total Supply: 1,000,000,000
Chorus One Valoper address: dymvaloper1ema6flggqeakw3795cawttxfjspa48l4x0e2mh
The Inter-Blockchain Communication Protocol is an important aspect of Dymension. IBC is a battle-tested bridging protocol that allows secure communication between different chains. RollApps connect to the IBC economy via Dymension Hub, similar to how a server connects to the internet via an internet service provider.
Dymension is working to reduce the reliance on centralized and commonly used multi-sig bridges prevalent in Ethereum and L2 ecosystems with IBC-connected rollups. By utilizing IBC for rollups, Dymension validates that all funds deposited into a RollApp are as secure as the Dymension Hub itself.
We firmly believe Dymension stands at the forefront of the next generation of blockchain technology, with its modular architecture promising to improve upon scalability and efficiency challenges faced by traditional blockchains. As supporters and collaborators, we continue to advise the team to best position themselves for a successful mainnet launch and beyond.
We are excited about the potential of Dymension to revolutionize the blockchain ecosystem, reinforcing our commitment to innovation and the growth of blockchain technology.
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.
Summary
EigenLayer’s mainnet is just around the corner and has been the talk of town lately. In a nutshell, EigenLayer is a new primitive that democratizes access to restaked rewards by aggregating and propagating cryptoeconomic security to a broad suite of applications being built on top of Ethereum.
Chorus One has long been immersed in the ecosystem, and has now proudly launched our newest solution to further simplify ETH staking - OPUS Pool. This new product allows any user to easily stake ETH, mint osETH, and integrate with EigenLayer seamlessly, streamlining the process for both new and existing customers.
Additionally, users have the extra benefit of depositing not only osETH, but any other accepted liquid staking tokens (currently, stETH, cbETH, and rETH) into EigenLayer - making it significantly easier for anyone to participate in ETH restaking and earn additional rewards.
Kick-start your ETH staking journey with Chorus One! Enter the OPUS Pool here.
In this article, we break down the fundamentals of EigenLayer and Restaking, key benefits and risks, Chorus One’s involvement in the ecosystem, and how investors and institutions can restake seamlessly using the OPUS Pool. Dive in!
Restaking in the context of Ethereum, as defined by Vitalik Buterin, is a process that allows stakers to extend their staked assets' utility beyond the Ethereum network. This concept, integral to Ethereum's Proof of Stake (PoS) framework, enables staked ETH to not only support Ethereum's network but also to bolster the security and trust systems of other blockchain platforms.
Through restaking, assets that would otherwise be dormant within Ethereum gain a new functionality, serving multiple networks simultaneously and offering stakers the opportunity to earn additional rewards from various sources. Ethereum's dense network of validators and the spread of staked assets contribute to its robust security, making it an ideal candidate for restaking.
EigenLayer has pioneered this primitive by integrating smart contracts into Ethereum, facilitating restaking and expanding the possibilities for asset utilization.
It creates a market-driven ecosystem where security is pooled and governed by supply and demand. Users can opt-in to EigenLayer smart contracts to restake their $ETH or LST(liquid staking token) and extend cryptoeconomic security to additional applications on the network. Part of EigenLayer’s potential, therefore, lies in its ability to aggregate and extend cryptoeconomic security through restaking and to validate new applications being built on top of Ethereum or beyond.
Actively Validated Services (AVS), essentially new projects or applications building on Ethereum, can tap into this pool, consuming security based on their needs while validators opt-in at their discretion, weighing risks and rewards. This system negates the need for AVSs to establish their own validator networks, instead allowing them to utilize Ethereum’s existing security infrastructure.
EigenLayer not only enhances capital efficiency by enabling staked tokens to be used across multiple protocols but also simplifies the process. Ultimately, it aims to unify cryptoeconomic security within a single ecosystem, reducing the fragmentation of security across protocols and increasing trust through a larger validator network.
There are two key advantages:
Firstly, stakers can earn or stand to earn additional rewards through restaking by taking on more responsibilities.
Secondly, emerging protocols benefit from the robust security provided by Ethereum's established pool of validators. This creates a mutually beneficial relationship between Ethereum's foundational layer and other blockchain protocols, enhancing the overall ecosystem.
Before taking a deeper look into the ecosystem and how users may get involved, let’s take a look at the fundamental ideas introduced by EigenLayer:
By combining these ideas, EigenLayer serves as an open marketplace where AVSs can rent pooled security provided by Ethereum validators.
While Restaking with EigenLayer presents numerous benefits, there are certain challenges and risks.
There are primarily two categories of risks associated with restaking with EigenLayer:
(1) many operators may collude to attack a set of AVSs simultaneously
With only a subset of operators choosing to restake in specific AVSs, this selective participation opens the door to potential collusion among operators, who might conspire to compromise the system for financial gain, particularly if they are restaking across multiple AVSs with substantial total locked values.
(2) the AVSs built on EigenLayer may have unintended slashing vulnerabilities — this is the risk of honest nodes getting slashed.
The risk of unintended slashing is significant, especially in the early stages of AVS deployment before thorough battle-testing. Vulnerabilities, such as programming bugs, could trigger slashing and result in losses for honest participants. To mitigate these risks, EigenLayer proposes rigorous security audits of AVS codebases and a governance layer capable of vetoing unjust slashing decisions.
We’ll cover the potential risks and management strategies in more depth in an upcoming article in this EigenLayer series, stay tuned!
Chorus One has been actively engaged in the EigenLayer ecosystem since its early days, evolving alongside it, and has recently integrated EigenLayer restaking into our latest product, OPUS Pool.
OPUS Pool is our latest addition to the OPUS product suite enabling anyone to stake any amount of ETH with Chorus One. Not only that, users also have the extra benefit of depositing any other accepted liquid staking tokens (including osETH, stETH, cbETH, and rETH) into EigenLayer in one go!
Essentially, we have opened up an avenue for anyone (OPUS and non-OPUS users) to participate in restaking as easily as possible.
For a step-by-step guide on how to get started with restaking with Chorus One, visit our comprehensive guide.
Additionally, we have been greatly involved within the ecosystem in a multitude of ways:
…. And more!
EigenLayer revolutionizes staked asset utilization, enhancing validator rewards and strengthening protocol economies. It catalyzes the creation of innovative protocols and services, enriching the Ethereum ecosystem. This advancement fosters Ethereum's growth, making it more attractive to institutional investors by allowing a single staking mechanism to secure diverse protocols, improving resource use and network efficiency, and broadening the stakeholder base.
Why should you choose Chorus One for Restaking?
To start your ETH staking journey with Chorus One, head to OPUS Pool!
Check out our step-by-step guide for a comprehensive overview of how you can get started.
For any questions, information, or suggestions, please reach out to us at staking@chorus.one, and we’ll be in touch!
A step-by-step guide to the OPUS Pool for ETH Staking
MEV Max - Introducing Chorus One’s vault on StakeWise V3
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’re thrilled to announce the launch of Chorus One's newest offering: the OPUS Pool. Until recently, a minimum threshold of 32 ETH was required for users to stake ETH on OPUS. But not anymore! Going forth, users may stake any amount of ETH directly via the OPUS Pool, mint osETH, and deposit into EigenLayer in one go.
Users have the extra benefit of depositing not only osETH, but any other accepted liquid staking tokens (currently, wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx) into EigenLayer through the OPUS Pool!
Additionally, Institutional clients can leverage the OPUS SDK to integrate ETH staking into their offerings, providing their customers with all the benefits of the OPUS Pool seamlessly.
Start using OPUS Pool to stake ETH. Visit https://opus.chorus.one/pool/stake/
In this article, we’ll dive into why we launched the OPUS Pool, its benefits, how it’s different from existing liquid staking options, and how you can deposit various liquid staking tokens including osETH, wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx into EigenLayer in a single move on the OPUS Pool.
Liquid staking is a mechanism that enhances traditional staking by introducing liquidity to staked assets. Unlike traditional staking, which necessitates locking up cryptocurrency to support a network’s operations and security, liquid staking allows participants to retain the fluidity of their assets. Through liquid staking, users stake their crypto with a liquid staking protocol and receive a token in return—this token symbolizes the staked amount and any accrued rewards or penalties.
The critical distinction lies in the usability of these new tokens: they can be freely traded or utilized within the DeFi ecosystem, thus allowing stakers to earn additional yields or use them as collateral in various financial protocols. This creates a dual advantage by enabling participation in network validation and security processes, akin to traditional staking, while simultaneously providing liquidity and opportunities to compound rewards in the broader DeFi space.
The OPUS Pool democratizes access to staking rewards by removing barriers such as minimum staking requirements and the need for technical infrastructure, making it an attractive option for a wider range of investors.
The OPUS platform, initially requiring a 32 ETH minimum for validator node operation, has evolved. Now, anyone can stake any amount of ETH (and even restake them) with Chorus One, using our OPUS Pool.
The OPUS Pool, powered by Stakewise smart contracts which have undergone rigorous auditing by esteemed security firms, not only 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.
As previously mentioned, the OPUS Pool enables any user to stake any amount of ETH 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.
The 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.
As pioneers in MEV research, our latest ace, Adagio, is an MEV-Boost client that changes how transactions are handled for increased MEV capture.
Adagio's design 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.
OPUS Pool offers a unique feature: users can deposit not only osETH minted through OPUS Pool but also liquid staking derivatives like osETH, stETH, cbETH, and rETH minted on other platforms, directly into EigenLayer.
This flexibility allows users to either mint osETH with OPUS Pool and deposit it into EigenLayer, or bring in any accepted liquid staking derivatives and seamlessly deposit them into EigenLayer in a single step.
Before we delve into the specifics of starting your staking journey with OPUS Pool, let's first understand what restaking is and how it's executed through EigenLayer.
Restaking in the context of Ethereum, as defined by Vitalik Buterin, is a process that allows Ethereum stakers to extend their staked assets' utility beyond the Ethereum network. It means that while your ETH remains staked on Ethereum, you can also leverage its staking power across other blockchain networks. This innovative approach enables new blockchain networks to utilize Ethereum's established validators and staked tokens for securing their trust systems.
Restaking offers stakers the flexibility to contribute to the security of multiple networks, potentially earning rewards, verifying trust, or engaging in blockchain events. It represents an evolution in blockchain participation, broadening the scope and impact of staked assets without requiring additional token allocation.
EigenLayer revolutionizes this concept by implementing smart contracts on Ethereum to facilitate restaking.
It creates a market-driven ecosystem where security is pooled and governed by supply and demand. Users that stake $ETH can opt-in to EigenLayer smart contracts to restake their $ETH and extend cryptoeconomic security to additional applications on the network. Part of EigenLayer’s potential, therefore, lies in its ability to aggregate and extend security through restaking and to validate new applications being built on top of Ethereum.
Actively Validated Services (AVS), essentially new projects or applications building on Ethereum, can tap into this pool, consuming security based on their needs while validators contribute at their discretion, weighing risks and rewards. This system negates the need for AVSs to establish their own validator networks, instead allowing them to utilize Ethereum’s existing security infrastructure.
For a more comprehensive overview of EigenLayer and how it addresses current challenges in Ethereum security, please read our latest blog.
Currently, there are two ways in which you can use the OPUS Pool. The first method involves minting your osETH through OPUS Pool and depositing it directly into EigenLayer, while the second method enables you to skip minting osETH and directly deposit any accept liquid staking tokens (osETH, cbETH, stETH, rETH) directly into EigenLayer on the OPUS Pool.
Both methods are made as simple as possible to enhance your staking experience, and can be completed in just 3 steps, as described below:
Step 1: Connect your wallet on the OPUS Pool page and deposit some ETH into the pool.
Step 2: Once deposited successfully, you can now mint your osETH in 1-click.
Step 3: Deposit your osETH into EigenLayer.
Step 1: Go to the OPUS Pool page, select Restake and connect your wallet
Step 2: Select token of your choice (osETH/stETH/cbETH/rETH ) and enter amount to Restake
Step 3: Deposit your tokens into EigenLayer
Our institutional customers may opt in to leverage the OPUS SDK to integrate ETH staking into their offerings, providing their customers with all the benefits of the OPUS Pool seamlessly.
This allows our institutional client’s customers to benefit from all the features offered by the OPUS Pool, including no minimum ETH required to stake, top tier-MEV yields, high rewards, and direct restaking with EigenLayer.
For a more detailed, step-by-step explanation of how you can stake your ETH and deposit into EigenLayer, please view our guide here.
To start staking on OPUS Pool, visit https://opus.chorus.one/pool/stake/
For institutions interested in learning more about the OPUS Pool SDK, please get in touch with our team at staking@chorus.one
Resources
A step-by-step guide to staking ETH on OPUS Pool
Restake with EigenLayer Seamlessly via Chorus One's OPUS Pool: A Detailed Guide
Learn more about Adagio, Chorus One’s pioneering Ethereum MEV-Boost client
MEV Max - Introducing Chorus One’s Liquid Staking Pool on Stakewise V3
Considerations on the Future of Ethereum Staking
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.
