StakeWise Solo

Non-custodial Ethereum validators running on banking-grade infrastructure

The goal of StakeWise Solo is to simplify participation in staking and achieve maximum returns for users that prioritize self-custody of withdrawal key and have at least 32 ETH to stake.

We charge a fee of 10 DAI ($) per validator per month and offer a unique billing method to handle regular payments for your validators without linking a credit card. To our knowledge, our fees are the most competitive on the market, which is consistent with our goal of maximizing profit for stakers.

Overview

StakeWise Solo is a non-custodial staking service where users provide the public part of their withdrawal key and blocks of 32 ETH for StakeWise to create and manage validators on their behalf. All validators created in this manner run on our infrastructure and benefit from a failover setup, meaning that they are never offline. Their deposit data prevents anyone but the respective private key holders from withdrawing their balance upon Phase 2. Solo validators will keep running for as long as the user is paying a staking fee or until a validator exit from the network is performed. The latter can happen either upon the user's voluntary in-app request or as a result of two missed validator bills.

Depositing

To create a Solo validator, you must submit your withdrawal credentials and deposit at least 32 ETH via our Solo Deposit interface in the app. The withdrawal credentials are something that you must generate on your own before creating a validator. You can use our guide on how to do that below.

Once you submit the withdrawal credentials and confirm the deposit transaction, the operator running in a cluster will provision validator keys, start a validator node, and submit the deposit data through the Solos smart contract. There is no way for StakeWise to replace the withdrawal credentials you have submitted with something different as the validator registration transaction will be then rejected. You can examine the Solos and Validator Registration contracts yourself to confirm this before making a deposit.

Once the Validator Registration contract (VRC) receives the deposit data, it registers a new validator in the Beacon Chain. Following an obligatory activation stage, this validator starts participating in the consensus mechanism and earns staking rewards for you.

Tracking earnings

Your earnings are tracked within a dedicated dashboard in the Validators section of our app.

It is also possible to check attestation/proposal performance for each validator individually by pressing on the Details button and clicking on the Validator link. The link leads to the beaconcha.in stats page for your validator.

Withdrawal

Withdrawal of the validator balance will be natively allowed by the ETH2 specs upon Phase 2.

Solo validator owners will use their withdrawal keys to request withdrawals to the address that they specify.

Voluntary Exit

The voluntary exit is an action that stops the validator attesting duties and exits it from staking. A validator that exits from the network will stop earning staking rewards but also will not incur penalties for being offline. There may be different good reasons for exiting a validator, but the downside to exiting it before Phase 2 is the inability to access the validator balance (ie withdraw funds) due to ETH2 specs. The specs also do not allow exited validators to re-enter staking before Phase 2.

Before requesting a voluntary validator exit, please consider the implications of exiting your validator before phase 2.

In the mainnet, Solo users will be able to request an exit for their validator(s) within the Validator dashboard in the Solo app. The staking fee will continue accruing until the validator has fully exited from the network, which may take a few days from the moment of submitting an exit request.

Users of StakeWise Solo must also remember that if a bill for their validator(s) is not paid within two months, StakeWise will automatically request an exit for their validators. Therefore, we advise you to always keep your billing balance topped up with DAI.

Validator Keys

At the moment, there is no safe way to hand over the validator keys of Solo users if they wish to migrate their validator(s) from StakeWise to elsewhere. Therefore, you must consider that by depositing in StakeWise Solo, you will be bound to use our service until Phase 2.

You can be certain that whenever a solution for the safe handover of validator keys emerges, StakeWise will implement it as a new feature.

Billing

Billing for Solo staking begins as soon as your validator(s) start earning rewards and continues until your validator exits the network or you miss two consequent monthly staking bills. We advise you to keep your DAI billing balance topped-up for as long as you are using the Solo service to avoid not paying the bills. You can top-up your DAI balance at any time, even before you create your first Solo validator. You can also withdraw DAI from this balance at any time.

Automatic payment system

StakeWise uses a payment system that simplifies and automates the process of paying for one's validators without the need to create an account and link a credit card. This system is based on a DAI deposit account that you can top-up and withdraw from.

Each Solo user has a dedicated DAI deposit account. It works akin to a pay-as-you-go SIM card, where you top-up a certain amount on your card and use this balance for calls and other services over time. With a DAI deposit account, users can deposit any amount of DAI - this amount will become their billing balance. StakeWise will charge the staking fee for Solo validators from the billing balance of their owner. The charge will be deducted once per month meaning that the 10 DAI fee per validator is charged as one sum on a certain day every month.

In addition to topping-up, users can withdraw some or all of their billing balance by pressing on Manage.

Payment terms

To improve customer experience, StakeWise provides generous payment terms to Solo stakers - from the moment of receiving their bill, users have 2 months to pay it. If a user fails to pay for the service within the 2-month term, StakeWise will automatically request an exit for that user's validator(s).

Balance of the validators that exit from the network before Phase 2 gets frozen until its release. Therefore, it makes sense to top-up your billing account instead of avoiding the payment of the staking fee. See our guide on how to do it below.