Today we announce the collaboration and strategic partnership with SnowSwap, bringing more use cases and yield opportunities to aETH.
SnowSwap allows aETH holders to benefit from high APY by becoming liquidity providers in the eth2SNOW pool which combines aETH by Ankr Staking, CRETH2 by CREAM and wETH.
Solving Eth2 liquidity challenges with aETH
While the Ethereum 2.0 launch presents major opportunities to early adopters, the staked assets get locked in the network until at least phase 1.5 is released (which can take up to several years!), stripping investors from any rewards for that period of time.
Luckily, you don’t have to wait that long for your rewards with Ankr Staking’s Eth2 Reward Bearing Bond (aETH) allows users to stake Eth2 and redeem rewards without having to wait until the end of the lockup period.
SnowSwap aims to incentivize Eth2 adoption and liquidity via creating new markets and utility and the ability to swap between aETH, CRETH2 and wETH with low slippage.
The eth2SNOW asset and pool will create value for its holders in several ways:
- eth2SNOW alleviates minimum ETH entry required for aETH
- eth2SNOW allows low slippage swaps for the highest APY %
- eth2SNOW allows liquidity providers to earn SNOW
As the liquidity pool consists of multiple Eth2 pegged assets, there is no need to provide liquidity on a pair of tokens. Users can provide liquidity with either number of assets in the pool, even only one asset. In short, you can provide liquidity to the Eth2SNOW pool by simply staking aETH!
How to stake aETH on SnowSwap
- Stake ETH on Ankr Staking and redeem aETH, or buy aETH on Uniswap
- Deposit your aETH to Snowswap
- Stake the resulting eth2SNOW on SnowSwap for high APY!