AVADO is making it possible for people of all backgrounds and technical experience levels to get involved in exciting cryptocurrency platforms like ETH 2.0. These types of Web 3.0 projects tend to reward those who get in early, but until now it has been difficult for non-technical people to get started. Fortunately, AVADO users can now take part in a decentralized staking protocol called Rocket Pool that will allow them to stake Ether while avoiding the barriers that would otherwise prevent them from doing so.

What’s stopping people from staking ETH 2.0 directly?

Ethereum is currently in the process of transitioning towards ETH 2.0, which may present a significant opportunity for people to earn high staking rewards and enjoy the passive income that comes from doing so. With a plug-and-play AVADO device, this process is easier than ever to get started with. However, becoming a validator currently requires that the user stakes a minimum of 32 ETH.

This means that, without staking a significant amount of money, users may not be able to get involved in the ETH 2.0 network early ahead of the merge and may therefore miss out on the benefits that would come from doing so.

Fortunately, there is now a solution. Users who are unable or unwilling to stake such a high amount of Ether can instead get involved in what’s known as a staking pool. Here, users from around the world essentially ‘pool’ their resources together in order to make up that 32 ETH minimum. Rewards are then divided among participants based on a set of criteria such as the amount of ETH that each individual contributes to the pool.

Rocket Pool is one such staking pool, functioning through a staking protocol and its own supplementary rETH token. It allows virtually anyone to stake ETH 2.0 thanks to requiring a much lower minimum investment.

While there are many staking pools on the market today, Rocket Pool is a popular choice due to the fact that it sends rewards to stakers through smart contracts on the Ethereum chain. This makes the protocol more transparent and decentralized than other offerings. Using Rocket Pool means that you never have to give control of the process over to a centralized entity. Instead, you can maintain custody of your own funds.

What are the pros of staking with Rocket Pool?

The main benefit that comes with staking through Rocket Pool is that it allows you to get involved even if you don’t currently have the 32 ETH that is required to run a validator on your own. Having a way to bypass this financial barrier and get started right away presents significant potential benefits to users.

You currently need only 16 ETH to run a Rocket Pool node and can earn commissions through the mini pools that you create, allowing you to enjoy commissions as high as 5–20%. In addition, users can earn rewards in exchange for providing collateral to the network in the form of Rocket Pool’s native token: RPL.

Further, when the Ethereum 2.0 merge occurs, many people believe it will result in a window of time in which people who run validators are able to earn a significant ROI. Because the validators will get a part of what the miners now get. The increased ROI will go down over time when more validators sign up in the network. Yet, since many people do not currently have 32 ETH in their holdings or cannot stake that amount, they may otherwise miss out on this period of high passive income earning.

With Rocket Pool, users can still reap the benefits of being an early validator in the ETH 2.0 network, even if they do not have the means to provide such a large stake. In addition, the protocol benefits the network as a whole by aiding in liquidity and serving as a useful tool in its decentralization.

What are the cons of staking with Rocket Pool?

You can run a ETH2.0 node with only 16 ETH2.0 instead of 32 ETH while earning great rewards by providing a minipool to other users. However this bigger reward does not come without any responsibilities. To run a validation node, you have to make sure the node is up and running 24/7, and if you make some innocent mistakes, all those could result in direct financial loss — slashing of your ETH2.0. Should 50% of the staked ETH2.0 be deducted, the node will be rejected to participate in the network. Therefore, understanding the responsibilities of running a validation node is crucial.

In another way, one of the other biggest downsides to partaking in this kind of decentralized protocol is that it can be a difficult process for anyone who is not already intimately familiar with blockchain technology and decentralized projects. Since many users who want to get started in the Web 3.0 landscape or increase their current crypto earnings are not from tech backgrounds, the difficulty that can arise through this process can be both overwhelming and prohibitive.

The process for staking with Rocket Pool on your own is split into three tutorials within the project’s official documentation: staking with Rocket Pool directly, staking via a decentralized exchange on layer 1 of the Ethereum network, and staking via a decentralized exchange on layer 2 of the network. Each process requires an existing familiarity with processes like setting up a wallet, calculating gas prices, and/or navigating decentralized exchanges.

In a sense, this would mean that you’re trading the financial barrier of staking ETH 2.0 on your own for a technological barrier that comes from having to get set up with a staking pool. Fortunately, AVADO’s new offering eliminates this downside altogether, meaning that you do not have to compromise on either front.

How to stake Rocket Pool with AVADO

AVADO makes it easy to stake with Rocket Pool, allowing users to enjoy all of the earning potential of running an ETH 2.0 node without the technical hassle of having to manually set it up on their own. Running a node can now be done in as few as six steps:

1. First, install the following three packages that are conveniently located on the AVADO DappStore: the Ethereum 1 client, the Ethereum 2 client, and Rocket Pool.
2. Once the blockchain has finished syncing, both on layer and layer 2, simply create an Ethereum wallet through AVADO’s beginner-friendly UI.
3. Add enough funds to your wallet. At the current point in time, you’ll need 16 ETH to operate a Rocket Pool node, RPL tokens equivalent to 1.6 ETH as insurance collateral, and a small amount of ETH to cover gas fees.
4. Register your new node through the Rocket Pool smart contract and set up your withdrawal address.
5. Create a mini pool, which will lock your ETH into the ETH 2.0 smart contract.
6. After a few hours, when the validator is activated, simply navigate back to the dashboard on your AVADO device to monitor how your node is performing in real-time!

While navigating this process the hard way — without an AVADO device — can be extremely daunting and difficult, AVADO makes it incredibly easy for newcomers and people with varying levels of technical knowledge to get set up in just a few minutes.

AVADO is breaking down barriers so that anyone can stake ETH 2.0

Since providing everyone with the ability to engage in exciting decentralized projects is so core to its mission, AVADO is offering a new package that makes it easier than ever to stake ETH 2.0 through the Rocket Pool protocol. This means that users won’t have to worry about a difficult setup process or not knowing how to use Rocket Pool on their own. Instead, they can get started by following an incredibly simple process on their AVADO device that takes just a few minutes.

Through this offering, AVADO is eliminating both the financial and technological barriers of staking ETH 2.0 and opening up the process to virtually anyone. Since AVADO offers a wide range of blockchain devices that are ready to go right out of the box, users who have been unable to get stake ETH 2.0 are now able to do so ahead of the upcoming merge. This, in turn, may allow them to enjoy the passive income earning benefits that could arise from being quick to get involved in this exciting milestone in the crypto landscape.

To find out more about how easy it can be to stake crypto projects and earn money for doing so, check out AVADO’s website and its list of plug-and-play blockchain devices .