Process for ETH Staking

Sign up with legal name, Company name, ABN/ACN, registered address, email of signatory authority, legal name and title of signatory authority, legal name of trust (if applicable), invoicing email, and message details to receive ongoing communications and important instructions, read and accept the ETH Staking Terms & Conditions, and the accompanying Pier Two Privacy Policy.

Send confirmation details to the email address provided. This email will come from an official @piertwo.com address.

Provide an Ethereum Withdrawal Address (cannot be changed), where rewards will be directed, and if unstaked, the deposited ETH will be sent to. Depending on requirements, the ability to provide a Fee Recipient Address for execution layer rewards.

A deposit JSON file will be created based on the details provided by the client, including the amount of ETH deposited and relevant address/es. The file will be accessible to the client via an email link that will be sent within 24 hours. The link also includes instructions to guide the client through the deposit process.

Upon receiving the link to the deposit JSON file, the client can upload it to the Pier Two staking launchpad to verify that it contains the correct withdrawal address and the desired number of Validators. Alternatively, access to these services via the Staking API.

Once the deposit is successfully transacted on the network, the necessary Validator infrastructure will be initiated in preparation for activating Validators in the beacon chain. If there is a long activation queue, the infrastructure will be started only when the Validators are nearing the front of the queue, allowing at one week’s time.

Can view the performance of the Validator, as it performs the attestation duties such as signing and sending messages every epoch (~6.4mins), and adds new blocks to the blockchain. The Validator goal is to generate ETH rewards, and avoid signing messages that result in slashing. The act of slashing could result in staked ETH being penalised, ranging from light with a maximum penalty of 1 ETH, to more severe penalties such as correlated and other that compound the penalty and result in slashed validators being exited from the beacon chain.

To boost rewards for the Validator(s), Pier Two enables MEV boost rewards. Capturing demand on Ethereum blockspace and yielding additional ETH rewards. Typically represent ~30% of ETH rewards earned.

Unstaking requires client authorisation, and if electing to fully withdraw and unstake ETH and rewards, will have to upload a voluntary exit message (JSON files that client receives once Validators are active), for each Validator being unstaked. This will commence the process to deactivate the Validator, where it will enter the queue, be checked for eligibility and wait to be selected. The process and the associated time for withdrawal is approximately 8.5-days. Otherwise, the client will see the balance of the withdrawal address start increasing automatically, as rewards are periodically distributed.

Sends a pre-approved Validator exit message to the Ethereum network, and moves Validator/s into the exit queue. The Validator then ceases participating in block attestation and creation (and stops getting rewards). The Validator must wait 27-hours as the network ensures that it hasn't been slashed. The Validator is then moved into the second and final queue. This time, the Validator is totally deleted from the network and returns its ETH with consensus layer rewards. Upon completion, an invoice is issued for the services provided, per the ETH Staking Terms & Conditions, payable in ETH or USDC (timestamped at time of withdrawal).

Following the regular monthly billing relationship with Pier Two, pay the final invoice, and can select to either set-up new Validators or take no further action.