Liquid ETH Staking

ETH Staking

Users can stake their ETH on the Stake ETH page to receive LETH based on the latest internal exchange rate. Veno will bridge users' ETH from Cronos chain to zkSync Era chain, which will be staked and auto-compounded on Kiln’s staking pool on Ethereum.

ETH Unstaking

Users can unstake their ETH on Veno, upon which their LETH will be burnt, and wait up to 7 days to receive their ETH back, based on the exchange rate. All ETH unstaking requests will undergo the following unstaking process

• Batching (1-2 days): LETH unstaking requests are processed in 2 day batches. The withdrawal process starts once a batch is finalized at the end of the 2nd day. If you unstake on the 1st day of the 2 day batch, you will only have to wait for 1 day of processing period before the batch is finalized.

• Withdrawal (1-5 days on average): The withdrawal period is the time it takes to withdraw your ETH from the staking pool on Ethereum. Usually this takes 1-2 days. However, as the pool processes withdrawals on a first come first serve basis, this period can take longer if a large amount of ETH has been requested for withdrawal.

• Claimable: Once the ETH has been withdrawn on Ethereum, Veno bridges it back to ZkSync Era, ready for you to claim.

There will also be a small withdrawal fee of 0.2% on unstaked ETH.

Upon requesting to unstake their ETH, users will receive an NFT representing their claimable ETH as of a specific date, which can be transferred/sold on selected third party NFT platforms during or after the 7 day waiting period to further enhance users’ liquidity. Note: The unstaked ETH will be claimable for the NFT owner at the end of the waiting period. So do hold on to the NFT if you wish to receive the unstaked ETH.