sETH2 SETH2 Price

What is sETH2 (SETH2)?

StakeWise, established in March 2021, has emerged as a player in the Ethereum 2.0 staking arena, introducing two primary services: StakeWise Pool and StakeWise Solo.

StakeWise Pool: Tokenized Liquidity and Yield

In the StakeWise Pool, participants contribute their stakes, resulting in the tokenization of each deposit as StakeWise Tokens (sETH2) in a 1:1 ratio with Ethereum. This mechanism ensures that sETH2 is always backed by deposited Ethereum. StakeWise Tokens provide users with the ability to transfer or exchange their staked and earned ETH2 for other assets. This liquidity feature opens avenues for additional yield generation in various DeFi protocols.

StakeWise Solo: Simplified Validator Management

StakeWise Solo caters to users who prefer a personalized approach, allowing them to run their Ethereum 2.0 validator with 32 ETH. While StakeWise manages the infrastructure, users maintain sole access to their validator's balance through the withdrawal key. This service streamlines the technical aspects of staking, enabling users to create and exit validators with ease.

sETH2: Tokenized Representation of Deposits

At the core of StakeWise is sETH2, a token representing users' StakeWise Pool deposits in a 1:1 ratio with Ethereum. As users deposit ETH into the Pool, the StakedETHToken contract updates the total supply and mints an equivalent amount of sETH2 to the depositor. This tokenization allows for the separation of stakers' rewards from their deposits, offering the flexibility to deploy staked ETH capital in DeFi, reinvest returns, and manage capital efficiently.

Governance and Community Involvement

StakeWise operates as a non-custodial protocol, governed by the StakeWise DAO. SWISE, the native governance token, empowers holders to vote on essential parameters like fees, node operator selection, and treasury disbursements. The community actively participates in decision-making through StakeWise Improvement Proposals (SWIPs). In an effort towards decentralization, 51% of the SWISE supply will be allocated to the community between 2021 and 2025.

Conclusion

StakeWise positions itself as a participant in the Ethereum 2.0 staking landscape, offering users the opportunity to stake with flexibility and enhanced yield potential. With StakeWise Pool, StakeWise Solo, and the tokenized representation in sETH2, the protocol caters to those seeking a bridge between traditional staking and decentralized finance. StakeWise's commitment to a non-custodial approach and community-led governance reflects its stance in navigating the evolving landscape of Ethereum 2.0 staking.

StakeWise is governed by the StakeWise DAO, utilizing the SWISE governance token for voting on protocol parameters. SWISE holders control fees, activation queue criteria, node operator selection, and more through frequent voting based on StakeWise Improvement Proposals (SWIPs). 51% of the SWISE supply is allocated to the community between 2021 and 2025 for community-led governance.

What is unique about sETH2 (SETH2)?

StakeWise introduces a liquid Ethereum staking protocol, offering users the ability to tokenize their staked ETH as sETH2, enabling liquidity, yield generation in DeFi, and efficient management of staked capital. The non-custodial nature separates rewards from deposits, allowing for flexible reinvestment and capital utilization.

Who are the founders of sETH2 (SETH2)?

The founders are anonymous.

Who are the backers/investors of sETH2 (SETH2)?

Specific supporters and investors of the project are unknown. For up-to-date investor/backer information, please visit the project's official website.

Where can I buy sETH2 (SETH2)?

You can buy sETH2 (SETH2) on Uniswap V3 (Ethereum) cryptocurrency exchanges.