Introduction

Stakewise is available on the MEW web interface where users have the option to stake any amount of ETH and begin earning rewards! In order to participate, users need to deposit ETH in exchange for sETH2, which is the Stakewise pool token used to represent users’ staking deposits. Each ETH deposit into the Stakewise pool mints sETH2 in a 1:1 ratio to ETH (1 ETH = 1 sETH2).

As long as the user has sETH2 (staking ETH), rETH2 (reward ETH) will accrue on their address as soon as within 24 hours of receiving the sETH2. rETH2 is accrued in the same 1:1 ratio, however, it’s charged at Stakewise’s flat fee of 10% of the rewards earned by the pool.

Upon accruing rETH2, users have the ability to compound their rewards by putting them back into the staking pool to increase their stake, or redeem their ETH which is done via swap.

Don't already have a wallet? Go ahead and check out the following article to get started:

>> How to Create an Ethereum wallet with MEW web

Do you have the MEW wallet app and want to use Stakewise? If so, please see the following guide for help connecting your mobile wallet to MEW web:

>> Connect to MEW web with MEW wallet


Staking your ETH

Please keep in mind that there will be a gas fee associated with your staking deposit, so make sure that you have enough ETH to cover your stake and the gas price.

For more information about Gas and gas fees, go ahead and review the following article:

>> What is Gas

To start staking using Stakewise:

  1. Head to myetherwallet.com and access your wallet.

    1. For guidance on how to access your wallet, check out the ‘How to Access your wallet on MEW web’ article.

  2. Click on ‘DApps’ located on the left side menu bar.

  3. In the DApps section, go ahead and click on ‘Stakewise’.

  4. Within the 'Stake ETH' window, first, enter the amount of ETH that you want to stake.

    1. Remember that your ETH stake will be represented as sETH2.

    2. sETH is given in a 1:1 ratio to ETH.

  5. Optional: Choose your transaction speed by clicking on ‘edit’ next to ‘Network fee’. You’ll then need to click the drop-down arrow next to ‘Default transaction priority’ to choose your speed.

    1. For more information about gas and transaction speeds, go ahead and review the ‘What is Gas’ article.

  6. Read and agree to Stakewise’s terms of service then click on ‘Start staking’.

  7. Review the transaction details then click on ‘Confirm & Send’ to complete the staking transaction.

    1. If you’ve accessed your wallet using the MEW wallet app, a browser extension or a hardware wallet, please make sure to approve the transaction there too before proceeding.

  8. Perfect! You just staked some ETH! Please allow a moment for your sETH2 staking balance to update in the ‘Staking - sETH2’ box, located on the right-hand side of the screen. Also, check for your updated balance located on the color account card.

If you experiencing any issues staking your ETH using Stakewise, please contact their support team at info@stakewise.io or send them a message. They’ll be able to best assist you.


Compound your Rewards

After earning rETH2, which was rewarded for your sETH2, users have the option to transfer their rETH2 balance back into the sETH2 staking pool. This is done by compounding your rewards.

To Compound your rewards:

  1. First, access your wallet on MEW then head to the DApps section.

    1. Keep in mind that the rETH2 is rewarded per address, so make sure that you’re accessing the correct wallet address.

  2. Click on ‘Stakewise’.

  3. When the ‘Stakewise’ DApp opens, go ahead and toggle over to ‘Compound Rewards’.

  4. Enter the amount of rETH2 that you want to compound.

    1. You can also click on 'Compound' found directly in the 'Rewards rETH2' box which enters your entire rETH2 balance to compound.

  5. Optional: Choose your transaction speed by clicking on ‘edit’ next to ‘Network fee’. You’ll then need to click the drop-down arrow next to ‘Default transaction priority’ to choose your speed.

    1. For more information about gas and transaction speeds, go ahead and review the ‘What is Gas’ article.

  6. Review and agree to Stakewise’s terms of service then click on ‘Compound Rewards’.

  7. Review the transaction for your rETH2 to sETH2 swap, then click ‘Confirm & Send’ when you’re done.

    1. If you’ve accessed your wallet using the MEW wallet app, a browser extension or a hardware wallet, please make sure to approve the transaction there too before proceeding.

  8. Good job! You’ve just compounded your rETH2 to maximize your rewards for your stake! Please allow a moment for the balances to update.

If you experiencing any issues compounding your stake using Stakewise, please contact their support team at info@stakewise.io or send them a message. They’ll be able to best assist you.


Redeeming to ETH

If you decide to cancel your stake or collect rewards rather than compounding them, you have the option to redeem the rewards to ETH. This process is done via swap where the rETH is swapped back to ETH and sent back to your wallet address.

From there, the user has the option to either hold the ETH in their wallet or sell their ETH on MEW using MoonPay. For more information about selling crypto using MoonPay, check out the following article:

>> Buy and Sell crypto on MEW web

Some things to keep in mind:

  • Any sETH that has been redeemed to ETH will no longer accrue rewards.

  • Any rETH that has been redeemed to ETH will no longer be able to be compounded.

  • In both instances, users will need to stake their ETH again to participate in the Stakewise staking pool.

Please note: The redemption process is done via Swap, which requires ETH to cover the Gas fees. For more information about Swaps and Gas fees, go ahead and review the following articles:

>> Swap ETH and ERC20 tokens on MEW web

>> What is Gas

To Redeem your ETH:

  1. Head to myetherwallet.com then access your wallet.

    1. For assistance with that, check out the ‘How to Access my wallet on MEW web’ article.

  2. Click on ‘DApps’, located on the left-hand side of the screen.

  3. In the DApps window, go ahead and click ‘Stakewise’.

  4. When Stakewise opens, go ahead and head to either the ‘Staking’ or ‘Rewards’ box, located on the right-hand side of the screen.

    1. To redeem your sETH to ETH,

      1. Select ‘Redeem to ETH’ found in that box

      2. Review the transaction details describing the swap from sETH2 to ETH

      3. Click on ‘Confirm & Send’ to complete the transaction.

    2. To redeem your rETH to ETH,

      1. Select ‘Redeem to ETH’ found in that box

      2. Review the transaction details describing the swap from rETH2 to ETH

      3. Click on ‘Confirm & Send’ to complete the transaction.

Awesome! You just redeemed to ETH using Stakewise! Your ETH balance should update automatically. Allow a moment for it to refresh.

If you experiencing any issues redeeming your ETH using Stakewise, please contact their support team at info@stakewise.io or send them a message. They’ll be able to best assist you.


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