Hi guys, really glad youâ€™re tuning in with me today. Hope youâ€™re having a fantastic day, wherever you are. And in todayâ€™s video, I want to share with you the rocket pool staking pool user interface.
So if youâ€™re interested in being able to stake as soon as ethereum 2.0 phase year upgrade has gone through and youâ€™re not really interested in installing your own validator on your computer or on the server, then Iâ€™m sure you find this video interesting because if youâ€™re not aware of it, rocket pool allows you to stake ETH.
In a staking pool with as little as one ETH. So if you donâ€™t have 32 ETH, then this video is definitely for you, if you want to benefit from the staking rewards from ethereum 2.0. My name is Kierin and I create weekly defi and crypto videos to make sure that you are ready for the next bull run.
Letâ€™s jump right into the user interface, but before I start, a big shout out to crypto man for making this user interface video available to me so that I can share it with you. So rocket pool staking pool is going to be available, like with many other decentralized applications over the internet. You can connect with various decentralized app wallets like metamask, portis, trust wallet, and so on.
A complete list is still not available yet, but hopefully it will be soon. So as soon as youâ€™ve connected, you just get this beautiful colorful interface. Rocket pool written there and you just have to type in the amount of ETH that youâ€™d like to stake. Iâ€™ll put in 16 and then you can select the duration that youâ€™d like to have your ETH locked up for, and then you just need to click on the play button to start staking.
Youâ€™ll be greeted with a warning message that you have to read, and this is very important, and the warning message says you are about to begin staking in a serenity rollout for ethereum 2.0 the first phase has one way deposits.
These deposits allow nodes to act as a validator, but withdraws wonâ€™t be allowed until ethereum moves to phase two of this rollout. Which is the Sharding.
Rocket Pool is simulating this change by having a countdown until sharding is enabled, at which point withdrawals will be allowed. In other words even though in the previous step, we could select the contract, these contract durations are only for when the ethereum serenity upgrade phase 2 has gone through because before that you wonâ€™t be able to remove your ETH from the staking.
Now rocket pool does have, or theyâ€™re working on a method that will allow users to remove the ETH, but that is with another token that is backed one by one with the ETH that is locked up on the ethereum 2.0 blockchain. But that is still a work in progress, so you have to keep in mind, you have to be ready to have your ETH locked up for at least two years before you consider staking either staking pool or as a validator.
So if youâ€™re comfortable with that, youâ€™re comfortable with your ETH locked up for two years, then you can click on. Got it. That you understand what youâ€™re up for. And your ETH will be sent to the deposit contract.
You get a notification depositing and has been deposited for 12 months. Now what you can do is you can click on your account. This account has hundred ETH. You see the notifications processed into the queue for 12 months of staking.
You can look at the deposits that youâ€™ve done since you created your account, and you can also then click on the withdrawals on accounts that are available to you.
So you see on the accounts, you see the ETH available, the amount staked and the amount of rocket pool tokens. In order to simulate the staking experience. So you can just click in the input fields and you can get some test net ETH or you can get some test net RPL, you can select the amount and you can get these tokens and I think itâ€™s a very easy to use, friendly and beautifully designed interface that will make staking ETH a lot easier for people that are maybe not that technical. A very nice thing is a network map, you can click on that and you see all the nodes that are available around the world, and letâ€™s take an example and click on that Europe node.
Itâ€™s got two nodes with too many pools attached, 98 users and 200 ETH staked. So yeah, as you saw, using Rocket pool is extremely easy. Anyone can do it, as long as youâ€™ve got an ethereum wallet that can connect to decentralized applications. Youâ€™ve got some ETH and youâ€™ve also got some RPL if you want to host a node, but otherwise, if you just want to stake one ETH 2 ETH or a few ETH, then youâ€™ll only need these ETH and an ethereum based wallet, they can connect to the rocket pool, a decentralized application, and then youâ€™re good to go. If youâ€™ve got any questions, leave them in the comments down below. Iâ€™ll answer the best ones in tomorrowâ€™s video. With that said, I wish you a fantastic day and Iâ€™ll catch you on the next one.
Have a good one. Bye bye.