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When the Ethereum Merge took effect in September 2022, it transitioned Ethereum from a proof of work (PoW) mechanism into a proof of stake (PoS) system. By doing so, the energy consumption of the Ethereum network was drastically reduced. At the same time, it supported ETH staking, which propelled the establishment of several ETH staking providers. Some of these include Lido, Rocket Pool and Stader Labs. Hord is another decentralized finance (DeFi) protocol that arose from the Merge, and it supports the ability to earn a higher APR yield from ETH staking.
Key Takeaways:
Amid growing DeFi competition, Hord distinguishes itself with a high-yield liquid ETH staking platform that’s simple to use and has no minimum ETH staking requirement.
HORD token holders also benefit from passive income opportunities, substantial staking yields and active participation in community governance.
Hord's potential growth lies in its evolving plans for diverse tokenized asset pools, positioning it as a significant player in DeFi and staking.
The Ethereum Shanghai Upgrade is among the most significant of updates to the Ethereum network, as it enables unstaking of ETH on the Beacon Chain. However, even with the upgrade, staking ETH was still considered incredibly inaccessible, since it requires a minimum of 32 ETH to earn rewards. In addition, self-staking involves considerable technical expertise and around-the-clock internet access to maintain the Ethereum node. Lastly, the ETH staked on the Beacon Chain will be locked up for years, which means you won’t be benefiting from your staked ETH anytime soon if you choose to stake on the Beacon Chain.