Staking activities were activated a few days ago as the countdown for Ethereum 2.0 started. Although the operation is not growing at the desired pace for the time being, validators who have gone early started questioning when they would start making money. Let’s see if Ethereum 2.0 will return to the story of a “patient dervish accomplished” for those who joined early?
Officially, 6 days have passed since the deposit contract started. With the expected interest for Ethereum 2.0, the purchase will be realized at the desired speed; Over 50 thousand ETH has begun to be staked with the proof-of-stake algorithm. The staking activity has not been able to descend to the base currently using ETH and has remained only among Ethereum fanatics, such as Ethereum co-founder Vitalik Buterin and a few ETH whales.
Will the early men get the rewards?
While many Ethereum holders are waiting for Beacon Chain to start their network life and stake activity to become much easier to stake their holdings, there were no early acts. According to CryptoPotato, those who act early can earn the biggest rewards as the amount invested increases, the returns will decrease in times.
Cinneamhain Ventures partner Adam Cochran made statements on his Twitter account to support this opinion. Cochran argued that people did not fully grasp the positive aspects of staking under ETH 2.0, and said those who act early would reap huge profits due to the slow pace of the operation now.
Confirmatory earning rates
According to the information published on EthHub, the verifier gains in the Ethereum 2.0 network were explained as follows:
- 1 million ETH – 18.10% annually
- 3 million ETH – 10.45% annually
- 10 million ETH – 5.72% annually
- 30 million ETH – 3.30% annually
- 100 million ETH – 1.18% annually
According to the published table, as the amount of Ethereum in the network increases, the rate of earning from staking activities decreases. Because of this inverse ratio, those who participate early may earn more in the first place.
December 1 may be a dream for Ethereum 2.0
The Ethereum amount staked so far is only 9.6% of the total to be reached. In order to implement the Beacon Chain formation within the Ethereum 2.0 stages, it is necessary to reach 524 thousand 288 ETH and considering the performance in the first week, it is necessary to go a long way. 473 thousand 956 ETH must be staked for the transition to the Ethereum 2.0 network.
As cryptocurrency commentator Omar Bham, who has nearly 50 thousand followers on Twitter, supports, as only 10% of what should have been staked so far, the chances of the December 1 launch to fail is increasing. Vİtallik Buterin pointed to December 1 for “Phase 0” and announced it on his Twitter account last week. However, according to most market experts, this date with the technical conditions and the current situation can be seen as an optimistic forecast.