According to the latest document on Eth2.0 specification v1.0 officially released by Ethereum on 2020/11/04, 23:00 (GMT +8), Eth2.0 mainnet deposit contract was launched and has attracted much attention in the market. According to the GitHub document, ETH 2.0 is expected to be brought forward and launch on 2020/12/01 and BiKi platform will be releasing the global premiere launch of ETH2.0 Validator Node Mining to help users better participate in mining. The specific rules are as follows:
1.What is BETH?
ETH 2.0 is to be converted to POS. In Phase 0 of ETH 2.0, users pledge their ETH to become a beacon chain validator to obtain pledge income and the minimum pledge threshold for users is 32 ETH. After ETH is transferred to the beacon chain, it will be converted to BETH at 1:1, which is, 32 BETH to become a validator, and BETH holders will receive rewards.
BiKi platform will facilitate the first batch of validator node mining in conjunction with Ethereum 2.0 and launching the ETH 2.0 Validator Node Subscription activity at the same time, to help users participate in the ETH2.0 staking at a low threshold. 100% of the proceeds and the converted BETH will be distributed to the users’ accounts and trading for BETH/ETH will be opened, and the details are as follows:
2. 【ETH2.0 Validator Node Subscription】
Activity period: 11/9, 11:00–11/15, 18:00 (GMT+8）
Exchange ratio：1ETH=1.01BETH（official exchange ratio is 1:1）
Min. qty：0.1ETH（official validator min. pledge is 32ETH）
Rules: BiKi platform will be launching the ETH2.0 Validator Node Subscription and users to use ETH to perform subscription to obtain BETH. The platform will facilitate the ETH 2.0 validator pledge, and the pledge income obtained will be issued to the account according to the proportion of user subscriptions, and the platform will open trading for BETH/ETH shortly after. BETH token holders on the platform can obtain pledge income and trade at any time for monetary realization.
Validator Node Cost: Approximately 120USD per year according to the official cost calculation of Beacon node and Validator client. This will be borne by the platform and 100% of the validator node income to be distributed to the users.
Participation method: Login PC/APP and click BiKi Power on the homepage.
3. Why Participate BETH Exchange on BiKi?
4. Validator Node Income
The ETH2.0 genesis block is 1606824000, which is 2020/12/01 (GMT +8). 7 days prior to 2020/12/01, there must be 524288 ETH in the deposit contract. When this value is achieved, the founding block will be generated 7 days after that, which will generate revenue. According to official data, as the number of participants increases, POS income will drop from 20.3% during the start-up period to 4.6% (total 10 million ETH deposits). BiKi’s pledge address will be announced separately, and 100% income will be distributed to the users. The expected return curve of ETH2.0 POS is as follows:
5. Supplementary Notes:
1. Currently, the chain only supports the switch from ETH1.0 to ETH2.0, and no reverse operations. After ETH is transferred to the ETH2.0 deposit contract, it will be burned to generate BETH and BETH cannot be reversed and restored to ETH. Account or asset transfers and smart contract operation will not be supported in Phase 0 until ETH2.0 Phase 2 goes live of which the official launch date is still uncertain and maybe delayed. BiKi platform will support the first batch of ETH2.0 according to the official development schedule and 100% of the income will be distributed to users. According to the official income distribution schedule, BiKi will open trading for BETH-related token pairs to support circulation in a timely manner. The specific opening time will be announced separately.
2. Whenever ETH officially updates relevant information, BiKi will make necessary and timely adjustments based on the specific information officially updated.
ETH2.0 Pledge Official Website: https://launchpad.ethereum.org/
ETH2.0 Specifications v1.0 Official Blog Release：https://blog.ethereum.org/2020/11/04/eth2-quick-update-no-19/
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