We take a look at expected times to participate in Ethereum staking.
Ethereum protocol times are measured in epochs, with 1 epoch being 384 seconds or around 6 and a half minutes. For ease of understanding, times based on these measurements have been translated roughly into minutes, hours and days.
88,885 / 25
Source: https://beaconcha.in/
Conclusion: Staking takes at least 8 hours, but it is very likely to take a lot longer as the demand to stake grows and more validators are added to the queue (the queue at the time of writing is 88,885 validators waiting). The waiting time right now is about a month and a half.
88,885 / 25
Source: https://beaconcha.in/
Conclusion: Unstaking takes at least 25 minutes, but can vary depending on the withdrawal queue with a similar model as staking (the queue right now is 25 validators waiting and is expected to clear quite quickly). You also have a 1 day delay to access funds. So, all in all the waiting time right now is about 1 day.
* This number corresponds to the churn rate applied to the staking and withdrawal queues. For every 65,536 additional validators that are active on the Ethereum network, the number of new validators that can be activated per epoch increases by one, and the number of validator exits that can be processed per epoch also increases by one. Right now, the churn rate is 9.
In the interest of safeguarding investors from potential staking penalties, Chorus One is proud to partner with Nexus Mutual, the leading decentralised coverage provider, to introduce a range of staking coverage options for our customers. As an industry leader, we are the first node operator to purchase on-chain staking coverage to protect our customers through Nexus Mutual’s innovative tokenised cover.
Our aim is to shield our diverse clientele—including custodians, trusts, enterprises, individuals, and others—from any risks associated with staking penalties, to ensure peace of mind and uninterrupted growth. This coverage reinforces Chorus One’s risk management strategies to proactively fortify our customers’ staked funds.
Complementary base cover on staked ETH
In light of our partnership with Nexus Mutual, we are pleased to offer complementary base coverage on Ethereum staked through OPUS for all customers until the end of 2023. Additionally, clients may opt for upgradable coverage on other networks supported by Chorus One upon request. For information regarding this promotion, or to explore coverage options for other networks, please reach out to us at staking@chorus.one.
Nexus Mutual
Nexus Mutual is a decentralised coverage protocol that allows its members to join and share risk. Members are empowered to purchase cover products that protect against various kinds of risks, including staking penalties like slashing. By leveraging their infrastructure, our clients can conveniently access cover, underwrite risks, manage claims, and build resilient risk management strategies through Chorus One.
How does it work?
Nexus Mutual’s tokenised cover permits Chorus One to acquire coverage for various digital assets, represented as ERC-721 NFTs. They offer transparent and auditable claims assessment, which can be accessed by anyone through the Nexus Mutual protocol on Ethereum. Storing data on-chain allows anyone to review Nexus Mutual’s history of claim decisions and payouts.
Unlike traditional insurance, claims are processed in a matter of days and payouts are redeemable as soon as a claim has been approved. Nexus Mutual provides an enhanced claims experience for our customers by eliminating the need for third-party involvement or delays. Additionally, the protocol is designed to reward honest behaviour and penalise fraudulent activities. Learn more about the claims design and how Nexus Mutual protects against fraud protection in their documentation.
What is slashing?
Proof-of-Stake (PoS) networks offer immense growth potential for blockchain transactions. However, not all PoS networks are equal, and they introduce new responsibilities and risks for token holders. One such risk is slashing, which involves penalising validators who engage in dishonest or inactive behavior on the network. Slashing can take different forms, such as losing a predefined percentage of a validator's stake or being completely removed from the network for the current epoch or permanently.
At Chorus One, we recognise the severity of such circumstances. That’s why our robust, on-chain coverage forms an integral part of our comprehensive risk management strategy, aiming to protect all of our clients. Stay tuned for an upcoming article where we will delve further into staking penalties and Chorus One's proactive risk management practices.
"When staking your ETH, even with the best technical set-up and expertise, mistakes can happen and slashing can occur. The most professional operators recognize this and put in place protection for their users. We're excited to work with Chorus One to make staking your ETH safer." - Hugh Karp, Founder, Nexus Mutual
"At Chorus One, security holds the utmost importance as we deeply value the trust and peace of mind it brings to investors. As responsible node operators, we prioritise establishing a solid foundation of trust with our investors, ensuring the safety of their assets. Through our partnership with Nexus Mutual, we aim to offer comprehensive protection against potential asset loss arising from staking penalties." - Vic Kaul, Business Development Lead, Chorus One
About Nexus Mutual
Nexus Mutual is a decentralised insurance alternative built on the Ethereum blockchain and the leading provider of crypto-native coverage. To date, Nexus Mutual members have protected more than $4.4b in crypto assets and have paid out $17.9m in claims. The mutual was created to give people a way to hedge against the unique risks in on-chain markets.
Learn more about Nexus Mutual by visiting nexusmutual.io.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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.
In the interest of safeguarding investors from potential staking penalties, Chorus One is proud to partner with Nexus Mutual, the leading decentralised coverage provider, to introduce a range of staking coverage options for our customers. As an industry leader, we are the first node operator to purchase on-chain staking coverage to protect our customers through Nexus Mutual’s innovative tokenised cover.
Our aim is to shield our diverse clientele—including custodians, trusts, enterprises, individuals, and others—from any risks associated with staking penalties, to ensure peace of mind and uninterrupted growth. This coverage reinforces Chorus One’s risk management strategies to proactively fortify our customers’ staked funds.
Complementary base cover on staked ETH
In light of our partnership with Nexus Mutual, we are pleased to offer complementary base coverage on Ethereum staked through OPUS for all customers until the end of 2023. Additionally, clients may opt for upgradable coverage on other networks supported by Chorus One upon request. For information regarding this promotion, or to explore coverage options for other networks, please reach out to us at staking@chorus.one.
Nexus Mutual
Nexus Mutual is a decentralised coverage protocol that allows its members to join and share risk. Members are empowered to purchase cover products that protect against various kinds of risks, including staking penalties like slashing. By leveraging their infrastructure, our clients can conveniently access cover, underwrite risks, manage claims, and build resilient risk management strategies through Chorus One.
How does it work?
Nexus Mutual’s tokenised cover permits Chorus One to acquire coverage for various digital assets, represented as ERC-721 NFTs. They offer transparent and auditable claims assessment, which can be accessed by anyone through the Nexus Mutual protocol on Ethereum. Storing data on-chain allows anyone to review Nexus Mutual’s history of claim decisions and payouts.
Unlike traditional insurance, claims are processed in a matter of days and payouts are redeemable as soon as a claim has been approved. Nexus Mutual provides an enhanced claims experience for our customers by eliminating the need for third-party involvement or delays. Additionally, the protocol is designed to reward honest behaviour and penalise fraudulent activities. Learn more about the claims design and how Nexus Mutual protects against fraud protection in their documentation.
What is slashing?
Proof-of-Stake (PoS) networks offer immense growth potential for blockchain transactions. However, not all PoS networks are equal, and they introduce new responsibilities and risks for token holders. One such risk is slashing, which involves penalising validators who engage in dishonest or inactive behavior on the network. Slashing can take different forms, such as losing a predefined percentage of a validator's stake or being completely removed from the network for the current epoch or permanently.
At Chorus One, we recognise the severity of such circumstances. That’s why our robust, on-chain coverage forms an integral part of our comprehensive risk management strategy, aiming to protect all of our clients. Stay tuned for an upcoming article where we will delve further into staking penalties and Chorus One's proactive risk management practices.
"When staking your ETH, even with the best technical set-up and expertise, mistakes can happen and slashing can occur. The most professional operators recognize this and put in place protection for their users. We're excited to work with Chorus One to make staking your ETH safer." - Hugh Karp, Founder, Nexus Mutual
"At Chorus One, security holds the utmost importance as we deeply value the trust and peace of mind it brings to investors. As responsible node operators, we prioritise establishing a solid foundation of trust with our investors, ensuring the safety of their assets. Through our partnership with Nexus Mutual, we aim to offer comprehensive protection against potential asset loss arising from staking penalties." - Vic Kaul, Business Development Lead, Chorus One
About Nexus Mutual
Nexus Mutual is a decentralised insurance alternative built on the Ethereum blockchain and the leading provider of crypto-native coverage. To date, Nexus Mutual members have protected more than $4.4b in crypto assets and have paid out $17.9m in claims. The mutual was created to give people a way to hedge against the unique risks in on-chain markets.
Learn more about Nexus Mutual by visiting nexusmutual.io.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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 proud to announce that Qredo, a premier self-custody protocol and platform, has joined forces with Chorus One to expand staking accessibility for investors. From seamless staking to enhanced security measures, this partnership aims to empower users with a secure and efficient staking experience.
What is Qredo?
Qredo offers institutions and traders a secure way to store assets while maintaining complete control. Through their unique distributed multi-party computation (dMPC) technology, users can confidently take custody of their own digital assets and readily engage with the DeFi ecosystem on a trusted, institutional-grade platform.
Stake to Chorus One through a Qredo Wallet
As part of the partnership, Chorus One's OPUS users can now directly stake and unstake multiple crypto tokens through Qredo Wallets. This eliminates the complexities associated with managing multiple wallets and platforms, making staking more accessible to a broader range of investors.
Key benefits of staking with Chorus One for Qredo customers:
The Qredo-Chorus One partnership garners strengths of both entities, empowering investors with a seamless and secure staking experience. By combining Qredo's innovative self-custody solutions with Chorus One's expertise in institutional staking, individuals and institutions can confidently participate in staking activities while maximizing their rewards and maintaining full control over their assets.
"Chorus One's OPUS shines brilliantly in the realm of staking. The potential to simplify staking for both individual investors and institutions is truly remarkable. We look forward to complementing OPUS with our secure self-custody solution, and firmly believe that this collaboration will bring immense value to our shared customers."
– Josh Goodbody, Chief Operating Officer, Qredo
"Qredo's robust self-custody solution is a valuable addition to OPUS. This partnership strengthens the security foundation of OPUS, empowering our customers to enjoy a frictionless and secure staking experience. We are truly excited about this partnership and the continuous collaboration between Chorus One and Qredo's products."
– Vic Kaul, Business Development Lead, Chorus One
To learn more about OPUS and how to get started, visit: https://chorus.one/staking-api-opus
About Qredo
Qredo is a leading provider of institutional-grade digital asset self-custody solutions. The company's distributed multi-party computing (dMPC) technology provides a secure and regulated environment for users to store, transfer, and manage their digital assets.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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.
