Introduction and explanation of hETH

An introduction and explanation of what hETH is and how hETH works.

What is hETH?

  • Hord’s hETH token is an ERC-20 token representing the user’s staked ETH and various rewards. hETH’s high APR is achieved by combining ETH staking rewards, MEV rewards, and additional Hord rewards. All MEV rewards are auto-compounded into the ETH staking pool to provide a higher APR than competitors.
  • When users stake ETH on Hord’s platform, they send their ETH to a secure staking smart contract and receive hETH in return. Hord plans with hETH is to develop a liquid staking derivative that delivers value to stakers and the Ethereum ecosystem.
  • In exchange for staking ETH at Hord, users receive hETH, representing their staked ETH combined with rewards. Therefore, hETH is expected to have a higher value than ETH.
  • Holders of hETH will be able to trade it or redeem it for its underlying value in ETH after the Shanghai hard fork. Once a user redeems hETH, the token will be sent to a burn address.

How Does hETH Work?

  1. 1.
    Users stake ETH without minimums into Hord’s ETH pool via a secure smart contract.
  2. 2.
    Users receive hETH tokens that represent users staked ETH proportionally combined with APR rewards.
  3. 3.
    In addition to ETH staking rewards, Hord’s ETH staking pool has MEV boosts and Hord rewards. When combined, these rewards provide the highest APR.
  4. 4.
    MEV boost rewards are auto-compounded in the pool consistently to maximize APRs, which increases the value of hETH.
  5. 5.
    hETH is tradable on DEXs or can be redeemed for its value in ETH at any time after the Shanghai hard fork.