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What is hETH & How Does it Work?

An Introduction to hETH

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 staking and 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 sometime after the Shanghai hard fork. Once a user redeems hETH, the token will be sent to a burn address.