Participating in non-custodial ETH staking comes with certain risks you should know. They include the following:
- Properly secure the mnemonic phrase corresponding to your staking wallet: If you lose it, you can’t retrieve your staked funds in the validator.
- Set the withdrawal address for the validator correctly: The withdrawal address is used to receive validator rewards and principal. Importantly, you can only reset the withdrawal address once. Therefore, ensure it is correct and controlled solely by you.
Each validator in the ETH staking service corresponds to two keys: a signing key for validating blocks and a withdrawal key for withdrawing the staked ETH principal and rewards.
imToken's non-custodial ETH staking service supports the separation of signing keys and withdrawal keys, enabling users to control their private keys as professional service providers maintain nodes. This ensures the security of assets and the reliability of validator services.
The staking service provider, InfStones, holds the signing keys and uses them to validate blocks on the consensus layer. If a block validation error occurs and is penalized by the consensus layer with a Slash, the loss is borne jointly by InfStones and the user.
Participating in ETH staking anywhere involves certain risks. imToken always prioritizes the security of users' assets. InfStones, the service provider that cooperates with imToken, has professional technical capabilities and minimizes the risk of Slash penalties. Since the Beacon Chain went live on December 1, 2020, InfStones has provided corresponding staking services with zero security incidents. InfStones is also the infrastructure provider for Binance Exchange's Ethereum staking.