EPotter is the first Asian-based institutional-grade liquid validation solution launched by HashKey Group. It aims to solve the staking liquidity issue of the PoS network through an approach combining on-chain and off-chain methods, thus supporting the development of mainstream PoS blockchain networks, and achieving the balance between centralized custody and decentralized transparency.
The EPotter liquid staking solution adopts the method of on-chain smart contract and off-chain regulated custody. The smart contract is audited by SlowMist and is responsible for the automatic processes such as the deposit of tokens, the mint and distribution of the liquidity token, the allocation and activation of the validator nodes to ensure the transparency of validator status and asset flow. The regulated custodian, xPert (https://xpert.hashkey.com/), serves as the front-end entrance, responsible for the management and deposit of client assets, ensuring the compliance and security of assets through KYC/AML. Also, EPotter is partnering with the experienced leading node service provider HashQuark to provide double protection for client assets.
In addition to ensuring the compliance and security of assets at the client level, EPotter has obtained professional legal opinions from law firms in Hong Kong and Singapore to ensure its compliance, and will continue to find more use cases for epETH (and other upcoming epTokens) in the HashKey compliance ecosystem.
As an experienced player in the Ethereum ecosystem, EPotter's liquid staking solution takes the epETH for the Ethereum blockchain as a starting point. Providing lProviding liquid staking solutions for more other mainstream PoS chains is also in EPotter's plan.
To participate in Ethereum staking, ETH holders need to stake at least 32 ETH and commit the technological and administrative resources to operate a validator node on the network.
At this stage, the withdrawal function of staked ETHstaked ETH has not yet been enabled. The only two activities that can be involved on the beacon chain are participation and termination of validation.
The ETH staked by the user will be locked in the contract. Before the withdrawal function is enabled, even if the validators choose to terminate their nodes, they cannot withdraw the staked ETH. After the withdrawal function is enabled, it is expected that users will need a long redemption period to unlock their staked assets and receive them in their wallets.
The epETH launched by EPotter can solve the above liquidity issues for users.
It allows users to participate in other ecosystem projects at any time while enjoying stable income.
Staking Reward Calculation
When users stake native crypto assets on PoS blockchains and participate in staking through EPotter, users will receive a corresponding amount of epETH at a Conversion Rate, which is calculated as follows:
𝐶𝑜𝑛𝑣𝑒𝑟𝑠𝑖𝑜𝑛 𝑅𝑎𝑡𝑒 = 𝑇𝑜𝑡𝑎𝑙 ETH 𝑠𝑡𝑎𝑘𝑒𝑑 𝑣𝑖𝑎 𝐸𝑃𝑜𝑡𝑡𝑒𝑟 + (𝐴𝑐𝑐𝑟𝑒𝑡𝑒𝑑 𝑆𝑡𝑎𝑘𝑖𝑛𝑔 𝑅𝑒𝑤𝑎𝑟𝑑𝑠 − Staking 𝑆𝑒𝑟𝑣𝑖𝑐𝑒 𝐹𝑒𝑒) / 𝑇𝑜𝑡𝑎𝑙 epETH 𝐺𝑒𝑛𝑒𝑟𝑎𝑡𝑒𝑑
The Conversion Rate is updated every hour on the hour (Singapore time) via Oracle. The epETH holders will earn staking rewards through the increase of the epETH value. Therefore, the value of 1 epETH will always be greater than or equal to the value of 1 native token.
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