Post
Topic
Board Altcoin Discussion
Re: EXODUS ETH STAKING
by
FinneysTrueVision
on 17/06/2024, 05:17:54 UTC
I was looking for a wallet that would allow staking without having to exchange eth for some other wrapped shit. This is what I am most afraid of, that such wrapped shit will suddenly lose its liquidity when it is suddenly replaced by users who will start selling eth massively during the bear market. exchanging eth for some other shit is pure idiocy, I recently showed it to binance - I had eth staked on WBETH there, and as it turned out, they suddenly withdrew this shit from the market, and you couldn't sell it on the fly, and then brazenly withdraw your WBETH and exchange it you had to wait for eth for several days or weeks until the system determined whether there was liquidity on the exchange and graciously returned the correct ETH coins to you. exodus does not exchange your eth for any other token as far as I know. Meta mask is a bit suspicious for me because it is a browser plug-in and not a stand-alone Windows application, which in itself is less safe for me.

If you are not running your own validator with 32 ETH staked, then you are delegating to a third party. Whether this third party gives you a liquid staking token or not doesn’t change the amount of risk you are taking. There should always be enough ETH to redeem your WBETH for your original stake plus some rewards. Liquidity isn’t the problem, there are quotas based on how much ETH they have removed from staking. The WBETH token itself solves this issue because you can bypass redemption wait times by selling the token for ETH on the spot market or on a DEX.