What is dETH?
dETH is the yield bearing derivative of ETH staked in the Ethereum Deposit Contract. At any given moment the Stakehouse registry can reconcile dETH on the Ethereum Network by locating its underlying staked ETH on the Beacon Chain. dETH receives gasless, slash proof staking rewards associated with underlying staked ETH. dETH is redeemable for the associated staked ETH and can be used anywhere throughout DeFi as an ERC-20 token.
dETH Value Propositions
- Slash proof staking rewards directly on a wallet with 0 commissions
- Use dETH in DeFi protocols
- Redeemable anytime for ETH
- Complete fungibility across all L1/L2’s
- Compound Staking
How Does dETH Compare to Other Forms of ETH?
dETH brings holistic unique features to token holders and stakers. Unlike alternative staking options dETH incurs no fees or commissions. Similar to wETH, dETH does not require a peg because of it's guarantee of redeemability and 100% backing by ETH, dETH is yield bearing and dETH is completely fungible across all L1/2’s.
User's dETH balance is not visible in their wallet or Etherscan. A query can be performed to view the dETH balance with The Graph.
Validator owner’s can withdraw dETH to their wallet via the Stakehouse dashboard “My Profile.” When performing a withdrawal all dETH goes to the user's wallet. When withdrawn, dETH is fungible with all other dETH which have been withdrawn. All withdrawal transactions can be viewed in Etherscan, and the dETH balance viewable in the validator owner's wallet.