As Ethereum moves from PoW to PoS, ETH staking continues to rise. According to the OKLink browser, as of December 1, the number of ETH pledged on the Ethereum Beacon Chain has exceeded 28.79 million, accounting for 23% of the circulating supply, an increase of nearly 72% from the 16.75 million pledged in the same period last year, showing the huge demand for ETH assets in the market to earn interest.

In this context, LSDFi, a DeFi protocol built based on ETH liquid staking derivatives such as stETH, rETH, and swETH, has gradually become a new growth engine leading DeFi. LSDFi not only helps users improve capital utilization, bring more low-risk passive income, but also helps improve the security of the Ethereum network, and its market size continues to grow. Among them, Lido has grown into the largest liquid staking protocol in the Ethereum ecosystem.

In order to further simplify the on-chain ETH and its liquidity derivatives staking experience and increase yield scenarios, OKX Web3 Wallet, together with Lido, Stader, Swell, and other leading protocols, officially launched the “DeFi Interest Rate Hike Season” event from 18:00 on November 14, 2023 to 18:00 on February 12, 2024 (UTC+8), bringing users a feast of rewarding interest rate hikes.

Due to the flexibility of the gameplay, users can choose their own portfolio according to their investment preferences.

1. ETH single-coin staking to enjoy higher APR

If the user’s demand is relatively simple, just the single-token staking requirement of ETH, then you can get a high APR by participating in the interest rate hike activities provided by OKX Web3 DeFi’s special guest Lido, Stader, Swell, and Tranchess protocols.

1, Lido’s official additional maximum APR rate hike subsidy

From now until June 2024, users who stake ETH on the Lido protocol through OKX Web3’s DeFi sector can receive an additional up to 3% $stETH hike subsidy.

2. Stader’s official additional maximum 2.4% APR rate hike subsidy

From now until December 11, 2023, users who stake ETH on the Stader Protocol through OKX Web3’s DeFi sector can receive an additional up to 2.4% $SD interest rate hike subsidy.

3. Swell’s official additional maximum APR rate hike subsidy

From now until April 12, 2024, users who stake ETH on the Swell protocol through OKX Web3’s DeFi section will swap into swETH and receive an additional up to 8% swETH hike.

It’s worth noting that since Swell is not currently open for redemption, ETH staked through OKX Web3 DeFi will be swapped for swETH through Swap instead of the staking path, helping users get a discount of less than 2%. That is, when Swell is open for redemption, users can exchange it for 1 ETH at a price of 0.98 ETH.

4. Tranchess official additional up to 8% APR rate hike subsidy

From now until January 26, 2024, users who stake ETH on the Tranchess protocol through OKX Web3’s DeFi sector can receive an additional up to 8% interest rate hike subsidy.

2. Simplify the on-chain process and increase interest rate benefits with multiple interest rates

In addition to the above-mentioned ETH single-token staking subsidy for interest rate hikes, if users make multiple staking through the six major protocols of OKX Web3 DeFi (Lido, Stader, Swell, Pendle, Equilibria, and Penpie), in addition to making it more convenient to operate and avoid jumping back and forth on multiple pages, they can also obtain multiple rewards while superimposing additional interest rate hike subsidies.

To put it simply, ETH and liquidity staking certificates are pledged to different liquidity protocols.

For example, users can first stake Ethereum to Lido, Stader, or Swell to obtain staking credentials, then stake the credentials into Pendle to obtain liquidity certificates and yields, and finally stake Pendle’s liquidity credentials into Equilibria or Penpie to obtain additional interest rate hike rewards and liquidity staking rewards of the protocol itself, and earn multiple returns.

1, Equilibria and Penpie official up to 9.5% additional rate hike subsidy

From now until February 12, 2024, users can earn up to 9.5% additional interest rate hike for Pendle LP liquidity mining on Equilibria and Penpie through OKX’s DeFi section of Web3.

1. Invest the stETH/ETHx/swETH obtained through the first type of activities into the Pendle protocol to obtain stETH/ETHx/swETH LP. It is worth noting that due to the peculiarity of the Pendle liquidity pool, users will incur slippage when using a single currency to provide liquidity on OKX Web3 DeFi. If you go to the Pendle platform to use dual currency to provide liquidity, you can avoid the loss caused by slippage as much as possible.

2. Staking stETH/ETHx/swETH LP through OKX Web3 DeFi into Equilibria and Penpie for liquidity mining can receive up to 9.5% additional interest rate hike subsidy.

It is worth noting that when participating in the second category of activities, you will also enjoy the subsidy of the first type of activities. For users who need ETH staking, the OKX Web3 Wallet “DeFi Hike Season” event is the most convenient way to obtain higher staking yields.

3. Participate in the tutorial

The way to participate is very simple, users can directly enter through the above link, or through the OKX web or APP, switch to the Web3 wallet and enter the DeFi section, and then click on the popular section to participate in this interest rate hike event.

4. Reflection & Risk Warning

Ethereum’s greener and more incentivized POS mechanism has created a rigid demand for the staking of ETH and liquid derivatives, so LSDFi is becoming an important force in the DeFi sector, providing users with relatively stable interest. However, for many novice users, the cumbersome and complex on-chain investment experience is not friendly. In order to better help users simplify the on-chain investment process, OKX Web3 Wallet has launched a one-stop on-chain investment platform, DeFi section, which supports users to one-click cross-currency investment, automatic return calculation and other convenient operations, helping them improve the utilization rate of funds while saving more gas, making DeFi investment easier

It is worth noting that while ETH and liquid derivatives staking through decentralized and highly liquid DeFi protocols such as Lido are more secure than centralized methods, there are still unpredictable potential risks, and users should always be cautious when investing in the crypto industry. This article does not constitute any investment advice and is for sharing activities only.