stkETH User Guide (ETH Liquid Staking Tutorial)

This user guide provides a step-by-step tutorial on how to mint, swap, and provide liquidity with stkETH via pSTAKE’s ETH liquid staking implementation.

In late May, we officially launched our ETH liquid staking implementation on the Ethereum mainnet. This event marked a major progression point for pSTAKE, now allowing users to liquid stake ETH via the pSTAKE app and receive stkETH in return.

stkETH can be utilized by holders across different DeFi (Decentralised Finance) protocols, enabling them to earn additional yield on top of their staking rewards. As a direct effect, users are incentivized to further engage in other activities across the Ethereum network.

To help guide users on how to get started with minting, swapping, and supplying liquidity with stkETH, we’ve created a comprehensive step-by-step tutorial with everything you need to know.

stkETH User Flow

Minting stkETH

The below steps outline how to mint your stkETH via the pSTAKE app by staking ETH from start to finish.

Staking and minting take place on the Ethereum network – therefore, throughout this process, please ensure that you have sufficient ETH within your web wallet to pay for any associated gas fees for transactions.

Step 1: Navigate to the pSTAKE App.

Go to https://app.pstake.finance/ and select “Start Staking” within the Ethereum section at the bottom to begin.

Step 2: Head to the ETH Staking Section.

Next, connect your MetaMask wallet and click on the “Staking” tab on the left-hand menu.

Step 3: Stake Your ETH to Mint stkETH.

Enter the amount of ETH you wish to stake, click “Stake,” and confirm the transaction in your wallet. Once the transaction has been confirmed, your stkETH balance will appear on the right-hand side.

Note: Unstaking will not be possible before the merge.

Swapping stkETH

On exchanges where stkETH is available, users will be able to swap and trade their liquid-staked tokens for ETH or other ERC-20 assets. Here’s a quick walkthrough on how to swap your stkETH for ETH on the Uniswap DEX (decentralized exchange).

Step 1: Navigate to the DeFi Section on pSTAKE.

To swap your newly minted stkETH for ETH, begin by selecting the “DeFi” tab on the left-hand menu. Click on “Swap” to be redirected to the Uniswap interface.

Step 2: Import stkETH on Uniswap.

Before beginning the swap, you’ll need to import the stkETH token to Uniswap. Click “Import” to proceed.

Step 3: Initiate the Swap for stkETH.

Next, enter the amount of stkETH you wish to swap. Allow the Uniswap protocol to use your stkETH and approve the transaction in MetaMask. 

Once complete, click “Swap,” then “Confirm Swap”, and approve the transaction in MetaMask.

You’ve now successfully completed your stkETH-ETH swap.

Providing Liquidity with stkETH

Adding liquidity to the stkETH/ETH Uniswap pool provides a way for holders to earn extra yield on their stkETH while supporting the Ethereum DeFi ecosystem.

Providing liquidity is simple and can be done in a few easy steps.

Step 1: Add Liquidity through the pSTAKE DeFi tab.

Navigate back to the “DeFi” tab on the left and select the “Add Liquidity” button, which will again redirect you to Uniswap.

Step 2: Deposit stkETH.

Enter the amount of liquidity you wish to provide and click “Preview” to continue.

Step 3: Review and Confirm All Information.

Next, a popup window will appear. Carefully read through the details and click the “Add” button if everything looks good. Approve the transaction in MetaMask to proceed.

Step 4: View Your Position.

Once the transaction is successfully processed, you’ll now be able to view all of your open positions under the “Pools Overview” section on Uniswap.

That’s it! You’re now providing liquidity and earning DeFi rewards (in addition to staking rewards) on your ETH.

This guide should serve to help users get to grips with the ETH liquid staking process – from minting stkETH to navigating the beginnings of using stkETH in the Ethereum DeFi ecosystem to generate extra yield. With more integrations planned, there’s plenty more coming in the pipeline to be excited about.

For a full video guide on the above processes, make sure to check out our YouTube video tutorial.

If you have any comments or questions, visit our Telegram community group to connect with us. 

About pSTAKE

pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can stake their tokens via the pSTAKE application to receive stkASSETs (ERC-20 representative assets of the respective underlying tokens) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.

Currently, pSTAKE issues ERC-20 liquid staking representative tokens on the Ethereum network, with a long-term aim of building a multi-chain protocol issuing liquid staked representatives on multiple networks including the Persistence Core-1 chain.

We have a bag full of new features and an exciting roadmap for the coming months, so follow pSTAKE on Twitter and hop onto our Discord channel to stay up-to-date with the latest developments.

Developed by Persistence

Persistence is the liquid staking hub of the Proof of Stake economy. It facilitates issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi activities. Persistence ecosystem products are designed to stimulate global liquidity and enable seamless value exchange.

Persistence’s Core mainnet is a Proof-of-Stake chain powered by Tendermint BFT consensus engine. Persistence’s multi-chain tech stack (currently supporting Cosmos, Ethereum, and other Tendermint-based chains) abstracts away the complexities for developers and enables them to create DEXs, marketplaces, lending/borrowing platforms, etc.

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