Lido on MEW wallet iOS

Steps and resources for staking ETH using Lido on MEW wallet iOS

Brittany avatar
Written by Brittany
Updated over a week ago

Don’t have a MEW wallet? Go ahead and check out the following articles to get started:

>> Download the MEW wallet app HERE

>> Using MEW wallet on Android? See Lido on MEW wallet Android


The Lido integration in MEW wallet allow users to stake any amount of ETH and begin earning rewards! In exchange for a deposit of ETH, users will receive the stETH token on a 1:1 basis. As the staked ETH generates rewards from Eth2, your balance on the Beacon chain will increase, and so will your stETH balance update to correspond to that increase.

If you'd like to withdraw your ETH, you can do so at any time by unstaking the stETH tokens using the Lido staking application found here https://stake.lido.fi. Navigate to the Lido app from the integrated MEW wallet browser, and follow this Lido guide for withdrawals: https://help.lido.fi/en/articles/7858292-faq-ethereum-withdrawal.

For details, please see the Withdrawing ETH from Lido section below.

To read more about staking on Ethereum, see the following articles:


Note that if you have 32 ETH or more to stake, creating a full validator with Staked.us generates more rewards and gives you the next best thing to running your own validator – with all the security and control of your assets, but without the need for technical knowledge or constant maintenance. Take a look at the Stake on Eth2 with MEW wallet iOS for more information.

Stake your ETH with Lido:

  1. Open the MEW wallet app and click the ‘Earn’ tab found on the bottom of the screen (looks like a mini plant).

  2. Click on ‘Ethereum liquid staking with Lido’.

  3. Review the details about staking your ETH with Lido then click ‘Start staking'.

  4. Enter the amount of ETH that you want to stake, then click ‘Stake __ ETH’.

    1. If you need more ETH, go ahead and press ‘Buy more ETH’ to purchase more. For assistance with that process, check out the ‘Buy and Sell Crypto on MEW wallet iOS’ article for guidance.

  5. Read and review the risks involved with staking and if you’re ready, click ‘Confirm’

  6. Double-check the transaction details, review and check the boxes then choose a transaction speed from the provided options.

    1. You'll be receiving stETH which represents your stake in Ethereum 2.0.

    2. Please keep in mind that you can swap stETH for ETH at market rates at any time, but you will only be able to redeem your ETH for stETH, at a 1:1 basis, once transfers are enabled on Eth2.

  7. When you’re done, click ‘Confirm’ and confirm the transaction with your PIN or another biometric verification setting that you have.

Congratulations! You’ve successfully staked your ETH using Lido! Feel free to double-check the transaction on Etherscan or you can visit the MEW wallet Lido DApp anytime to check the status of your stake and the rewards earned – your status screen will look something like this:


Withdrawing ETH from Lido:

  1. Open MEW wallet app and select the Browser tab on the bottom right.

  2. Navigate to Lido's withdrawals platform at https://stake.lido.fi/withdrawals/request/.

  3. MEW wallet should connect to the application automatically. If not, find the 'Connect wallet' button, click it, and approve connection.

  4. On the 'Request' tab, enter the amount of stETH you want to unstake. Sign and approve the transaction.

  5. Your stETH will be locked and ETH will be sourced to fulfill the withdrawal request. This will take between 1-5 days. An NFT will be minted to represent your withdrawal request. You can save the NFT to your wallet to monitor the status of the request. Alternatively, you can always check the status on the Claim tab of the Lido withdrawals platform by going back to it in the MEW wallet browser.

  6. Once your withdrawal request has been processed, the status on the Claim tab will change from 'Pending' to 'Ready to claim'. Click Claim and confirm transaction.

  7. After the transaction goes through, you should see the claimed ETH in your wallet.

For more information and assistance, see this withdrawal FAQ page from Lido: https://help.lido.fi/en/articles/7858292-faq-ethereum-withdrawals


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Tags:

mewwalletios, dapp, lido

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