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Staking for Ethereum

1 Overview

The Beacon Chain in Ethereum 2 introduces proof-of-stake to the Ethereum network. This way, you don't have to run high-spec mining hardware before you can start verifying transactions to earn on the Ethereum blockchain. Staking rewards are generated from the annual inflation of the Ethereum token and the gas fee collected from transactions in each block.
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The staking information is highlighted in the table below:
Minimum Staking Amount
32 ETH for each validator node.
Rewards Distribution
Automatically distributed to the validator address.
Unbonding Period
Staked ETH and rewards will be locked until transfers are enabled on the Ethereum Beacon Chain.
Compounding
No compounding.
Slashing
~0.6 ETH slashing for double-signing.
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This quick guide will show you how to start staking your ETH on InfStones.

2 Generate Withdrawal Credential

Before you begin the staking process, you'll need to generate a new withdrawal credential. And we can easily do this with the official tools created by the Ethereum foundation.

2.1 Generate with deposit CLI app

One option is to use the Ethereum official staking-deposit CLI application, as described below.
Download the deposit CLI app here, ensuring you've selected the right one for your operating system.
Please make sure that you are downloading from the Ethereum Foundation's official GitHub account - https://github.com/ethereum/staking-deposit-cli/releases/​
Once the download is complete, uncompress the downloaded file. And from your command line/terminal, navigate (cd) to the directory containing the executable deposit file.
Run the following command in this directory to generate a new withdrawal credential, making sure to set --chain mainnet and --num_validators to 1, as the deposit will be invalid otherwise.
For security reasons, we recommend disconnecting from the internet before running this command.
./deposit new-mnemonic --num_validators 1 --chain mainnet
Next, follow the instructions on your terminal, and in the process, ensure you have the password you set and the mnemonic written down in a safe place. The mnemonic is the only way to generate your withdrawal key whenever you want to withdraw your staked funds. As a result, it is important to keep it safe, preferably offline.
Once the process is completed, a new file deposit_data.json will be created inside a new validator_keys directory. This JSON file contains the public key of your withdrawal credential, and you need to upload it when staking. It's also worth mentioning that the only credential you'll need to upload to InfStones is your public key. InfStones will not request access to your withdrawal key or have access to your ETH tokens.

2.2 Generate with Key Gen GUI app

Another option for generating your withdrawal credential is to use the Wagyu Key Gen GUI app, which is also recommended on ethereum.org.
To get started, download the Wagyu Key Gen app for your operating system here. Optionally, you can also view Wagyu Key Gen audit by HashCloak here.
Please make sure that you are downloading from either the official Wagyu website https://wagyu.gg/, or the official StakeHouse GitHub account - https://github.com/stake-house/wagyu-key-gen/releases​
Once the download is complete, double-click to launch the Wagyu Key Gen app.
For security reasons, we recommend disconnecting from the internet before running the app.
Following the instructions on the application, you can either create a new secret recovery phrase to generate your staking key or use an existing one. To create a new one, click the CREATE NEW SECRET RECOVERY PHRASE button, as shown below.
Select the Mainnet option and click OK.
Click the CREATE button to generate your secret recovery phrase.
Write down the mnemonic in a safe place, and click NEXT to continue. Again, the mnemonic is the only way to generate your withdrawal key whenever you want to withdraw your staked funds. As a result, it is critical to keep it safe, preferably offline.
Type in the secret recovery phrase, then click CHECK to continue.
To configure your validator's key, enter the number of keys you want to generate and a new password to secure your key. Set the Number of New Keys as 1 as shown in the image below and save the password you create in a safe place for future reference. Afterward, click NEXT.
Retype the password you set previously and click NEXT.
Finally, choose a folder to save your keys, as shown in the image below:
Once completed, a new file, deposit_data.json, will be created inside the folder you selected in the previous step. This file contains the public key of your withdrawal credential, and you'll need to upload it when staking. It's also worth mentioning that the only credential you'll need to upload to InfStones is your public key. InfStones will not request access to your withdrawal key or have access to your ETH tokens.

3 How to Stake

You will need to use Metamask Wallet to perform staking actions.

3.1 Connect Wallet

To start staking, navigate to the Staking tab on your InfStones dashboard, and click the Connect Wallet in the Ethereum box.
This will open a popup prompting you to connect to the MetaMask Wallet, click this button to continue.

3.2 Select Node

Now that your wallet is connected, click the Stake button now displayed in the Ethereum row as shown below:
Confirm to stake to the Ethereum Validator Node and click Next to proceed.
Carefully read and check all the terms, then click Continue.
This would require you to upload the deposit_data.json file generated in the Generate Withdrawal Credential section earlier.
After uploading the file, adjust the number of Validators you need, and the ETH amount and gas fee will be calculated and will reflect automatically.

3.3. Enter Stake Amount

The next step is to enter the amount of ETH you wish to stake, enter preferred value and click the Next button to proceed.
Select your payment method and click Submit to proceed.
Wait a few seconds for the validator key generation process to complete.
Do NOT refresh or close your browser tab while the validator keys generation process is in progress.
Confirm the stake transaction on MetaMask.
Optionally, you can use MetaMask's Data tab to check the withdrawal credentials of your transaction and compare them to the Withdrawal Credentials in the deposit_data.json file that you uploaded to confirm.
Finally, wait for the stake transaction to be confirmed on the blockchain.
After the transaction is completed, click the Confirm button to continue.

3.4 Check Validator Status

After completing the staking process, click the Ethereum box to view the number of ETH2 validators created.
You can also check each validator’s address, status, balance, reward, and yield.