The Polkadot and Tezos staking services were especially innovative updates for the Ledger platform, with both focusing on proof-of-stake (PoS) consensus technologies – this paved the way for the latest Ether staking update in preparation for the Ethereum 2.0 network upgrade to PoS mining.
One of the biggest barriers to Ethereum 2.0 staking is the token requirement of 32 ETH in illiquid Ether holdings. This is inaccessible to most amateur investors and has led to the collaboration between Ledger and Lido.
The percentage return on staked ETH depends on the total staked ETH in the network. An increase in the total amount of staked ETH leads to a decrease in APR.
If the total amount of ETH staked is low, then the reward rate will consequently be higher, with a maximum annual reward rate of 18.10%.
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