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Introducing the OPUS Pool: ETH staking for All
Stake any amount of ETH, mint osETH, and restake with EigenLayer in a single move.
February 6, 2024
5 min read

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 vs Traditional Staking

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 Pool: What is it, Benefits, and Use Cases

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.

The Unique Benefits of OPUS Pool

  1. Stake any amount of ETH and mint osETH

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.

  1. Low Fees

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.

  1. Top-Tier MEV Yields:

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.


  1. Restake osETH, wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx  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 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 and EigenLayer in a Gist

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.

How does the OPUS Pool Work?

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:

  1. Stake ETH, Mint osETH, Deposit osETH into EigenLayer on OPUS Pool in the same flow.

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.

  1. Bring your liquid staking derivatives (osETH, cbETH, stETH, rETH) minted on any external platform and deposit them into EigenLayer through OPUS Pool.

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

The OPUS SDK

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.

Ready to Stake?

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

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.

Guides
Networks
How to stake ETH with Chorus One and restake with EigenLayer
A step-by-step guide to staking any amount of ETH seamlessly and Restake with EigenLayer through OPUS Pool
February 6, 2024
5 min read
What is OPUS Pool?

OPUS Pool, powered by Stakewise, is our latest addition to the OPUS product suite which enables anyone to stake any amount of ETH with Chorus One, mint osETH, and directly deposit into EigenLayer in one flow.

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.

Below, we will take you through the steps of how you can use OPUS Pool to

  1. Stake any amount of ETH
  2. Mint osETH
  3. Restake any LST directly with EigenLayer

Before moving on to the guide, let’s first take a look at some of the benefits of using the OPUS Pool.

For investors and Institutions -

  1. Stake any amount of ETH and mint osETH

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.

This means that you do not have to switch between platforms to Stake and Restake your ETH (an industry first! ).

  1. Low Fees

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.

  1. Top-Tier MEV Yields:

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.

  1. 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 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.

For institutions -

The OPUS SDK : In addition to the benefits mentioned above, our 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. To know more, please reach out to staking@chorus.one.

We’ve covered all the benefits, and in-depth overview of the OPUS Pool and how it works in our blog. Check it out here.

Now, let’s move on the guide.

💡Remember, you can directly Restake your staked ETH (including osETH, wbETH, rETH, cbETH, stETH, oETH , ankrETH , swETH, ETHx ) by skipping directly to Step 3: Restake with EigenLayer, if you do not wish to stake ETH and mint osETH on the OPUS Pool first!

Step 1: Stake any amount of ETH

  1. Log in to the OPUS Pool by clicking on https://opus.chorus.one/pool/stake/
  1. Then, connect your wallet.

  1. Once you have connected your wallet, you have the option to:

  • Stake ETH
  • Mint osETH
  • Restake via EigenLayer

We will walk you through each option in this guide.

To start staking, enter the amount of ETH you would like to stake. Once you have done this, click on ‘Confirm and Pool’.

5. Confirm your transaction.

  1. You have now staked ETH successfully!

Step 2: Mint osETH

  1. To start minting osETH, click on ‘Mint osETH’ on the OPUS Pool page.

  1. Enter the amount of osETH to mint and click on ‘Mint’ .

  1. Confirm your transaction.

  1. Once your transaction is confirmed, you have successfully minted osETH!

Step 3: 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.

  1. Then, enter the amount you wish to restake and click on ‘Restake’.

  1. Confirm your transaction.

  1. You have successfully restaked your staked ETH with EigenLayer!

To learn more about the OPUS Pool, visit our blog here.

To learn more about EigenLayer, visit our introductory blog here.

If you have any questions, or want more information, or interested in the OPUS SDK, please reach out at staking@chorus.one, and we’ll be in touch!

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.

Opinion
Others
Restake with EigenLayer Seamlessly via Chorus One's OPUS Pool: A Detailed Guide
Chorus One’s OPUS Pool allows anyone to stake any amount of ETH, mint osETH, and deposit any liquid staking token (LST) accepted by EigenLayer to participate in the ecosystem in a simple, seamless manner
February 6, 2024
5 min read

Summary

  • 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.
  • Chorus One’s OPUS Pool allows anyone to deposit any liquid staking token (LST) accepted by EigenLayer and participate in the ecosystem in a simple, seamless manner
  • To use the OPUS Pool, visit https://opus.chorus.one/pool/stake/. Here’s a comprehensive guide on how you can get started with the OPUS Pool - here

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!

What is Restaking?

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.

Restaking with EigenLayer: How does it work?

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:

  1. Pooled Security through Restaking: EigenLayer introduces a pooled security mechanism by allowing Ethereum validators to restake their ETH to secure additional blockchain modules, rather than using separate tokens for each system. Validators opt into modules by setting their withdrawal credentials to EigenLayer's smart contracts and running necessary software. This restaking process offers validators extra revenue from securing these modules, with added slashing risks for breaches. This expands the security and innovation potential beyond Ethereum's smart contract DApps to include various blockchain components, enhancing the overall security network.

  2. Open Marketplace: EigenLayer provides an open market for blockchain security, allowing validators to opt into various modules and lend their restaked ETH as they see fit. This market-driven approach enables validators to assess and choose modules that offer sufficient incentives, balancing the potential rewards against the risks of additional slashing. This system enhances the core blockchain's governance with a dynamic, free-market mechanism, facilitating the launch of new functionalities and allowing for a more nuanced balance between security and performance.

By combining these ideas, EigenLayer serves as an open marketplace where AVSs can rent pooled security provided by Ethereum validators.

Addressing EigenLayer’s Risk Concerns

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!

Restaking with EigenLayer and Chorus One: How is Chorus One supporting EigenLayer’s ecosystem?

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.

To learn more about the OPUS Pool, its benefits and use-cases, read our latest blog.

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:

  1. We’re key contributors to the EigenDA Testnet, the first AVS.
  2. We’re part of the EigenLayer operating working group
  3. We’re an investor and operator in Rio Network, a liquid re-staking protocol
  4. Our research experts continue to monitor and carefully select upcoming AVSs that we’ll be running infrastructure for

…. And more!

Opportunities for investors and Institutions - Why Choose Chorus One for Restaking with EigenLayer?

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?

  • Enterprise-grade Infra: Our team is comprised of? world-class engineers who manage infrastructure for various AVSs, leveraging our strong track record in uptime, a history of zero-slashing incidents, leading MEV rewards, and top-tier security practices.
  • Strategic Risk assessment: We selectively manage infrastructure for Active Validation Services (AVS), making strategic choices based on risk assessment to safeguard customer funds. Our expertise in discerning and mitigating risks in new networks is a key reason clients trust us.
  • Simple, secure, and efficient: We’ve made the restaking process as simple as possible to enhance the staking experience, ensuring it's both straightforward and secure.
  • Comprehensive rewards reporting: The OPUS Pool offers detailed rewards reporting, allowing users to access and claim their rewards at any time and view a comprehensive history of their earnings for a seamless experience.

Ready to Restake with Chorus One and EigenLayer? Enter the OPUS Pool!

To start your ETH staking journey with Chorus One, head to OPUS Pool!  For an in-depth overview of what OPUS Pool is and how it works, please check out our blog here.

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!

Resources

Introducing OPUS Pool: Stake any amount of ETH, mint osETH, and deposit into EigenLayer in one go.

A step-by-step guide to the OPUS Pool for ETH Staking

MEV Max - Introducing Chorus One’s vault on StakeWise V3

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.

Networks
Others
Chorus One partners with BitGo to offer institutional-grade staking for ZetaChain
Read our Network 101 for a concise overview of ZetaChain and how you can stake $ZETA seamlessly with Chorus One
January 31, 2024
5 min read

We're proud to announce our latest partnership with BitGo, an industry-leading digital asset custodian, to provide institutional-grade staking for ZetaChain. In this article, we provide an overview of everything you need to know about ZetaChain and how it works. To start staking ZETA seamlessly with Chorus One, simply reach out to us at staking@chorus.one!

“To be interoperable, or not, that is the question”

Facing the decision of which blockchain to build on is among the most challenging dilemmas for developers. Various factors, including the security of the underlying chain, cost, and its throughput, play a crucial role in influencing this decision. With the proliferation of blockchains, it has become evident that no single chain can dominate them all. Thus, the notion of interoperability has gained significance. Interoperability entails the capacity for users to engage in transactions across multiple chains, resulting in increased liquidity, enhanced capitalization, a larger user base, and greater innovation in use cases overall. Numerous mechanisms have endeavored to address this challenge through means such as bridges (e.g., Wormhole, Allbridge), and interoperability standards (IBC). However, these initiatives still grapple with problems like centralization, diminished user experience, the necessity for protocols to conform to specific standards, and vulnerability to exploits. Achieving genuine interoperability remains elusive at present. This is precisely where ZetaChain steps in.

Left - Interoperability today. Right - Interoperability with ZetaChain. Source: ZetaChain

What is ZetaChain?

ZetaChain is a Proof-of-Stake blockchain built on Cosmos SDK and Tendermint PBFT (Practical Byzantine Fault Tolerance) consensus engine. As a result, ZetaChain enjoys fast block time and instant finality. Smart contracts on ZetaChain support arbitrary logic that executes conditionally on external chain events, and can directly update external chain states via its TSS (Threshold Signature Scheme) signed transactions. ZetaChain thereby enables omnichain dApps that interact with different blockchains natively and directly without wrapping or bridging any assets. Unlike Ethereum where a smart contract can be trusted to manage assets according to predetermined rules, except on ZetaChain, a smart contract can leverage and manage assets on any connected blockchain.

Do we need one more chain that promises interoperability?

If you've ever explored bridging or engaging in cross-chain transactions, you've probably encountered the challenge of true interoperability. Blockchains usually operate as closed systems, limiting transactions to the state of their respective blockchain. External information integration into the blockchain without a trusted third party, like an oracle, is not reliably achievable. For transactions that span multiple blockchains, reliance on a trusted intermediary, often a CEX (centralized exchange), is currently necessary. Consequently, there's a lack of a decentralized, permissionless, and public service enabling generic atomic transactions involving multiple blockchains. Even platforms like Cosmos, while enabling the creation of interoperable blockchains, require additional bridging mechanisms to connect with chains beyond the IBC ecosystem.

ZetaChain aims to solves this problem of partial interoperability.

Architecture of ZetaChain

In this section, we break down the different architectural elements of ZetaChain and its roles.

Validators : ZetaChain uses the Tendermint consensus engine, each validator node can vote on block proposals with voting power proportional to the staking coins (ZETA) bonded. We cover more about the ZETA coin below. Just like other chains, validators need to be online all the time, ready to participate in the constantly growing block production. In exchange for their service, validators will receive block rewards, and potentially other rewards such as gas fees or processing fees, proportional to their bonded staking coins. Contained within each validator is the ZetaCore and ZetaClient. ZetaCore is responsible for producing the blockchain and maintaining the replicated state machine. ZetaClient is responsible for observing events on external chains and signing outbound transactions. ZetaCore and ZetaClient are bundled together and run by node operators. Anyone can become a node operator to participate in validation provided that enough ZETA are staked. Chorus One is one of the node operators and you can stake your ZETA with us to ensure high rewards backed by robust security.

Observers: Observers are tasked with monitoring external chains for relevant transactions. This observer system is segmented into two key roles: sequencers and verifiers. The sequencer's responsibility is to identify relevant external transactions, events, and states, reporting them to the verifiers. The verifiers verify and vote on ZetaChain to reach consensus. The sequencer does not need to be trusted, but at least one honest sequencer is needed for liveness.

Signers: ZetaChain possesses a set of standard ECDSA/EdDSA keys that facilitate authenticated interactions with external chains. To prevent any single entity or a small fraction of nodes from having the ability to sign messages on behalf of ZetaChain on external chains, these keys are distributed across various signers to ensure that only a supermajority of them can sign on behalf of ZetaChain and it employs bonded stakes and a system of positive and negative incentives to ensure economic safety.

In practice, all above roles (except sequencer) are collocated in the same computer node, sharing software and credentials such as validator keys and bonded stakes and the associated rewards/slashing.

High level architecture of ZetaChain. Source: ZetaChain whitepaper

The ZETA token

ZETA token is a multi-chain utility token that play various roles like:

  • Securing the ZetaChain conensus via staking/delegation/slashing.
  • Gas asset used to pay gas fees on multiple chains
  • Represent value that can transfer from one blockchain to another

Total initial supply: 2,100,000,000 (two billion, one hundred million)

Inflation:  10% of the total supply (210m ZETA)  is allocated to the initial emissions pool on ZetaChain. This pool allows for block rewards targeted to sustain and secure the network over the first 4 years of network growth. After this pool is depleted, the protocol will introduce a planned 2.5% inflation through validator rewards, separate from the emission curve. More information here.

Summing up ZetaChain

As we’ve seen above, ZetaChain promotes true interoperability between different blockchains and has a unique mechanism to facilitate that. There’s no disagreement over the fact that we’ll have dozens of chains with their own use-cases and the current interoperability solutions do not provide a great user experience or efficient capital flow. We’re proud to be steadfast supporters of ZetaChain and the Cosmos ecosystem in general and look forward to the variety of applications that ZetaChain can enable. From multi-chain NFTs to omnichain DeFi, the possibilities are endless.

How to stake ZETA with Chorus One?

Ready to stake $ZETA? Simply reach out to us at staking@chorus.one, and we'll get you set up in no time!

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.

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