Hi guys and welcome to another lovely weekend, the holidays are fast approaching, and en-route to 2021 is gradually coming to an end. That said, it seems 2020 will be leaving something behind for us to talk and expect more on as ETH 2.0 launches.
Time to DApps is a weekly writeup that focuses on new and trending DApps and also steps on how users can easily navigate and use these DApps.
In today's writeup, we will focus on Eth2.0 Staking Vault, a newly added DApp on TokenPocket
Eth2.0 Staking Vault
The Ethereum Blockchain presently is flawed with so many disadvantages that brings the network to a somewhat slow and always congested state which affects the overall performance and also increases gas fee aka transaction fee on the high side leaving your regular users frustrated, ETH 2.0 is a better and futuristic version that encompasses different functions with promises of creating a clean, easy to use, and cheap network for every and all users.
One of the features currently coming to the Ethereum Blockchain is proof of stake, this allows users to stake their ETH and generate an incentive for keeping the network active.
Doing this might be seen as somewhat expensive to your regular based user due to future uncertainty, price volatility, and other expenses required to become an active validator.
To combat this, TokenPocket is ready to bear any loss that may arise in the future by implementing a new DApp called Eth2.0 Staking Vault this allow anyone to become a stakeholder on ETH2.0 and other benefits include easy removal of liquidity and also a requirement of only 0.1 ETH unlike the required 32 ETH needed.
At the moment, an expected yearly return of 5-20% is foreseeable which is likely to change depending on how many users decide to join or leave this program, the more users who join the better for the ETH market in general as it creates some form of scarcity to the total coin supply in circulation and the downside is that it reduces the amount of ETH users who stake are likely to receive, daily, weekly, or monthly.
Getting started with Eth2.0 Staking Vault is very easy and self-explanatory with the only requirement of having TokenPocket wallet installed, an Ethereum account, and a minimum of 0.1 ETH.
For those not familiar with TokenPocket,
TokenPocket is a multi-chain wallet that allows users to easily manage their crypto assets and it also supports a DApp browser giving you easy access to various types of DApps directly from your mobile device.
TokenPocket is available on IOS and Android devices and users can easily download for their preferred device here https://www.tokenpocket.pro/
Steps to access Eth2.0 Staking Vault
After downloading and installing TokenPocket, launch the app from your mobile menu
Create an Ethereum wallet if you don't have one prior to now but if you do then use any of the provided importation option available
On your asset page, click on the Discover menu and a list of DApps becomes accessible to you
Scroll down to the new DApp section and select Eth2.0 Staking Vault or you can easily browse the name via the search option box
Your account is automatically logged in and the new page is self-explanatory.
To stake, there is a provided box that allows you to stake a minimum of 0.1eth.
Rewards distribution will commerce Dec 6th and users who joined the service prior to then will get rewarded.
More information related to Eth2.0 Staking Vault can be found here https://help.tokenpocket.pro/en/faq-en/eth-wallet/eth2.0-staking-vault
Disclaimer: The above is for entertainment and educational purposes only, users are advised to do their own research before investing in any digital or offline platform.
Until some other time, stay safe.