Liquid Staking - Figment

Liquid Staking is the New Wave

Liquid staking is a rapidly growing solution for earning rewards on your Proof-of-Stake tokens.

Introducing Liquid Collective

Liquid Collective is the secure liquid staking standard: a protocol designed to meet the needs of institutions, built and run by a collective of leading Web3 teams including Figment. The first liquid receipt token is LsETH, for Ethereum.

Liquid Staking Ethereum with Figment

Figment was involved from the beginning of the project to create Liquid Collective as one of the first node operators, and integrators of the Liquid Collective protocol. Any non-us person/entity that has ETH on WalletConnect or MetaMask and completes the KYC/AML onboarding, will be added to the Liquid Collective allowlist to have access to liquid staking services on Figment. Non-US persons/entities are able to stake ETH and mint LsETH via the Figment app.

Liquid Staking Ethereum with the Figment app - The Complete Liquid Collective LsETH Staking Guide - YouTube

What is LsETH?

LsETH is a fungible receipt token based on the Ethereum ERC-20 cToken model. When a user deposits ETH to the Liquid Collective protocol, they receive LsETH that evidences their ownership of the staked ETH as well as any network rewards that accrue to the staked ETH minus protocol service fees and network slashing penalties, if any.

Benefits of Liquid Staking LsETH

Earn Rewards

Users can hold their LsETH while accruing network rewards and using it as collateral for a range of DeFi activities.

Liquidity & Convenience

Token holders have an additional means of raising liquidity – rather than unbond staked ETH to sell ETH, they can simply sell the liquid receipt token.

Greater Security

Liquid Collective is audited by third-party providers, conducts sanction checks on the node operators and monitors the LsETH supply to ensure it’s reconciled on an ongoing basis with the balance of ETH staked on validators.