The down payment contract for Ethereum 2.0 now includes 50,849 Ether (ETH), worth approximately $ 22 million at the time of writing.

This is just under 10% of the minimum required stake of 524,288 ETH, or $ 230 million. Ethereum 2.0 will be launched on December 1 – but only if the minimum wagering threshold is reached seven days before that date.

Historical balance for the deposit contract Etherscan.

The inflow of new deposits appears to have declined in recent times, as most potential strikers joined within the first three days of launch.

Ethereum 2.0 strikers must go through a special launch pad to register validators with a 32 ETH stake each. While the same person or entity can deploy more, they must set up multiple validators for this.

Stake out revenues are expected to be below 10%, but that number largely depends on the number of active strikers. As they compete for the same rewards, new entrants will lower returns for others.

Most notably, Ethereum 2.0 deposits cannot be withdrawn or used until some time between the implementation of Phase 1 and Phase 2, which can take years.

This can be a significant deterrent to onboarding as strikers will sacrifice liquidity for relatively low returns and an uncertain lockup period. An informal one poll owned by Taylor Monahan, CEO of MyCrypto, seems to suggest that the majority of users wouldn’t consider it a worthwhile investment.

The Ethereum community has two more weeks to reach the deposit threshold before the launch is delayed. While progress has been relatively slow so far, it can change quickly.

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