We went live with our new product this week, it’s called Staking Club. Staking Club provides a contract and template to allow multiple people with small amounts of Ethereum to pool together 32 ETH and stake Ethereum directly, running their own node on AWS.
This product came about because the price of Ethereum soared, and the wide and diverse customer base we hoped for disappeared, as only institutions, extremely rich people or early holders of ETH could afford to stake.
We thank all of our customers who are institutions, HNIs and early holders, but Staking Club is a product that is trying to allow more people to be able to directly stake, and own a percentage of their own node.
Each Staking Club has a manager – this person goes to AWS Marketplace and clicks on Continue. AWS emails you a contract for the service, you fill in the details of your club members and how much of the node they each own, and we set up the node. The contract is shared with all club members and stored by Launchnodes for reference. Job Done.
Club members need to trust their Staking Club manager, as they need to have the club’s pooled Ethereum in a wallet they control, which deploys to the node.
As with all our services, we never take custody of your Ethereum, and we never take a slice of your Staking Rewards. Other companies like to take up to 25% of their customer’s rewards or give you virtual tokens in place of your ETH.
Please get in touch if you would like any help or information to set up your Staking Club node, or indeed other nodes for yourself or your organisation.
Happy Staking.
Jaydeep Korde
CEO, Launchnodes
