ETH2 Staking Results (1 month)

Month-by-month tracking of ETH2 staking via Ankr & providing ETH2 liquidity with SnowSwap

Month-by-month tracking of ETH2 staking via Ankr & providing ETH2 liquidity with SnowSwap

Photo by Adeolu Eletu on Unsplash

I staked 1 ETH with Ankr Staker on February 17, 2021, and then added the resulting aETH token to an ETH2 liquidity pool at SnowSwap. Each month, I’ll publish a short summary of rewards earned and value over time.How to Stake ETH2 and Earn Double Rewards
A tour of Ankr Staker & liquidity provider SnowSwapmedium.com

Results

Ankr Staker shows rewards earned by displaying the current value of aETH in ETH. Similarly, SnowSwap’s liquidity pool displays the number of SNOW that have been earned. Each month, I’ll record the current prices of ETH and SNOW in USD, aETH value in ETH, and the total value of assets.

|------------+-----------+-------+------------+------+-----------|
| DATE | ETH (USD) | aETH | SNOW (USD) | SNOW | Total |
|------------+-----------+-------+------------+------+-----------|
| 02-17-2021 | $1,851.14 | 1.00E | $0 | 0 | $1,851.14 |
| 03-17-2021 | $1,763.94 | 1.03E | $47.13 | 0.50 | $1,840.42 |
|------------+-----------+-------+------------+------+-----------|
Rewards:
0.03 ETH = $ 58.21
0.50 SNOW = $ 23.57
-------------------------
= $ 81.78
Txn fees (est) = ($200.00)
Rewards = $ 81.78
--------------------------
Total ROI = ($118.22)

Summary

After 1 month, my net loss with estimated transaction fees is ($118.22), but most of the loss is due to the decrease in the value of ETH. In that regard, the SNOW I’ve earned offset some of the losses, but I’m still at a net loss due to transaction fees.

The combined ETH and SNOW staking rewards represent a 4.6% return in one month, which is more than I could’ve earned with other staking options, but SNOW is at a low point right now — we’ll see if it can turn it around next month!


This story was originally published on Data Driven Investor on March 17, 2021.

Author: Adam Prescott

I'm enthusiastic and passionate about creating intuitive, great-looking software. I strive to find the simplest solutions to complex problems, and I embrace agile principles and test-driven development.

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