coinbase lowers staking rate for ETH again

Not sure of the exact time it changed but I know it was recently. Just looking at my profile now I noticed ETH staking rate is now only 3.25%. This is a drop from the 3.67% it was for the last few months.

I wonder how much the apy will drop before we get access to the ETH we have been staking. They did mention having a way to trade the locked up ETH before the ETH 2.0 merge happens but that was promised over a year ago and nothing has been changed or implemented.

At least the drop in rate shows that people are still locking up and holding ETH for the long haul so it isnt all negative in this case since coinbase actually stakes the ETH and isn’t lending it like other platforms which is how they can offer better rates than coinbase

View Source

29 thoughts on “coinbase lowers staking rate for ETH again”

  1. Crappy, but what are you gonna do? If you dont have enough to run your own validator, you have to use a pool. If you use a pool, youre at their mercy of terms which no one shouldve anticipated ever being generous. Otherwise enjoy 0% interest because you cant stake.

    I am more worried about options post 2.0 than I am in my stake rate right now. Ideally would like to worry about these sooner rather than later, but you cant do much once youre staked.

    Reply
  2. If they unlock before the merger. it will probably be something like you can withdraw but you lose your interest earned. Honestly staking with coinbase was a horrible mistake with everything going on with the space. Should’ve keep everything on my ledger

    Reply
  3. I don’t have eth staked at Coinbase but If they can lower the rate then customers should be able to break the contract and have their eth release.

    Reply
  4. Can’t wait until I can unstake my eth. I am moving off of coinbases shitty platform. In April of last year i staked because they promised there would be a method to liquid stake. In fact, it’s still up there. Still can’t liquid stake.

    Their whole platform sucks. I’m moving on.

    Reply
  5. I ask myself, “Why do people stake on CEX?”

    It’s basically the same thing, prices dynamically drop on DEX, and it’s adjusted on CEX. The fact remains that whether it’s CEX or DEX, staking cannot be sustained on a fixed APY.

    I think the best I’ve seen is the DAFI protocol which, although dynamically regulates price, has an algorithm that notes those who have stayed in the pool at those low periods, and rewards them more when the market is bullish again.

    I also play with Thorswap, Tetuswap, Beefy, and a host of others.

    Reply
  6. Staking and governance are usually just a way for the big players to dangle a carrot in front of retail while they exit humongous bags.

    Reply

Leave a Comment