DeFi

Happy @ethereum Pectra upgrade day to all who celebrate! 🎉🔷

A product upgrade now vs the last market cycle is centralized exchanges CEXs like @coinbase, Kraken, Gemini, etc. offer real yield from ETH staking rewards compared to the non transparent lending tied to a central point of failure before. More institutions will be coming to ETH staking with potential ETF approvals this year.

*Of course self staking with the help of the /eth-staker community and self custodying liquid staking tokens LSTs like Rocket Pool provide higher yields and a higher level of ownership for more advanced users.

So far for testing ETH staking with BinanceUS I'm observing <1% APR of the expected 2.8% APR. Lesson in there about centralized exchanges CEXs...

This is based on annualizing the rewards received.

A random walk down @safe ❇️ and open source tech research

Concluding @krakenfx research on @ethereum + EigenLayer staking for now. The observed APR is below their lower bound estimate. (Ticket #16961629)

Lastly, it'd be useful for Kraken to include the observed APR estimate in the UI to make it clear what the rate is. 

Up next: Testing out staking directly on EigenLayer!

The same is true with ETH staking APRs on other CEXs too.

The same is true with ETH staking APRs on other CEXs too.

https://farcaster.xyz/adamhurwitz.eth/0x885aec21

Estimated BinanceUS ETH staking rises to 1.7% APR

- Flipping Gemini at 1.28%. It is nice that Gemini is straightforward with the APR whereas Binance says their APR is 2.3% which so far turns out to be much lower.
- Kraken slightly up to 1.7% from 1.4% 
- @coinbase beating these centralized staking providers with 1.92% currently

https://farcaster.xyz/adamhurwitz.eth/0x9160b63c