The following document outlines the terms and conditions governing your use of the ETH 2.0 staking service provided by OKX. This agreement is designed to ensure transparency, clarity, and legal compliance while enabling users to participate in Ethereum’s transition to a proof-of-stake consensus mechanism.
Overview
The ETH 2.0 Staking Service ("Service") offered by Aux Cayes FinTech Co. Ltd. ("OKX") allows users to stake their Ethereum (ETH) and earn rewards through participation in the Ethereum 2.0 network. By using this service, you agree to be bound by the ETH 2.0 Staking User Agreement ("Agreement"). Please read all terms carefully before proceeding.
Your use of the Service constitutes acceptance of this Agreement, which supplements the broader OKX Terms of Service. In the event of any conflict between this Agreement and the general Terms of Service, the provisions herein shall prevail.
👉 Learn how staking works and start earning rewards today.
Key Definitions
Understanding the terminology used in this Agreement is essential for informed participation:
- Ethereum (ETH): A blockchain network that originally operated under a proof-of-work (PoW) consensus model.
- ETH 2.0: The upgraded version of Ethereum transitioning to a proof-of-stake (PoS) model with sharding technology. It includes multiple phases: Phase 0 (Beacon Chain), Phase 1 (Sharding), Phase 2 (Smart Contracts), and beyond.
- Staking: The process where OKX locks a specified amount of your ETH as collateral on the Ethereum 2.0 network. In return, you receive BETH, a liquid staking token issued at a 1:1 ratio.
- BETH: A tradable liquidity token representing your staked ETH. It can be used for spot trading or as collateral within the OKX ecosystem.
- Redemption: The process of converting BETH back into ETH, subject to processing times and potential service fees.
- Service Fee: A fee charged by OKX when you redeem BETH for ETH, disclosed on the platform and subject to change.
- T-day: A calendar day based on Hong Kong time.
Eligibility to Use the Service
To participate in ETH 2.0 staking via OKX, you must meet certain criteria:
Personal Requirements
- You must be at least 18 years old.
- You must have full legal capacity to enter into binding contracts.
- If registering as an individual, you confirm you are acting in your personal capacity and possess all necessary rights.
Entity Requirements
If representing a legal entity, you confirm that:
- The entity is duly formed and valid under applicable law.
- You are authorized to bind the entity to this Agreement.
Risk Acknowledgment
You acknowledge and accept that:
- Digital assets are non-guaranteed investments with high volatility.
- You have prior experience or knowledge in digital asset investing.
- You are responsible for complying with laws in your jurisdiction.
- You will not use the service for illegal purposes such as money laundering, fraud, terrorism financing, or market manipulation.
You also understand that OKX may impose:
- Minimum staking thresholds,
- Redemption periods,
- Subscription limits.
How Staking Works
Step-by-Step Process
- Deposit ETH: Transfer ETH to your OKX account.
- Initiate Staking: Use the OKX app or platform to stake your ETH.
- Receive BETH: Upon successful staking, you receive BETH tokens at a 1:1 ratio.
- Earn Rewards: Daily staking rewards accrue from the day after your initial deposit.
Staking Rewards
- Accrual Start: From the second day after staking ("Reward Calculation Day").
- Distribution Time: Before UTC 03:30 each day.
- Rate Type: Variable Annual Percentage Yield (APY), updated daily based on network performance.
- Form of Payout: Distributed in BETH.
- Precision: Calculated and rounded to 8 decimal places.
⚠️ Note: Displayed APY is an estimate only and not guaranteed. Actual returns may vary due to network conditions, validator performance, and operational costs deducted by OKX.
Once redemption is initiated, no further rewards are accrued on the redeemed portion.
Redemption of Staked ETH
You may redeem your BETH for ETH at any time, subject to the following:
- Redemption occurs at a 1:1 ratio (BETH to ETH).
- Processing time varies; funds may take several days to reflect in your wallet.
- Redemptions are processed on a First-In, First-Out (FIFO) basis.
- A service fee may apply and is published on the OKX platform.
- After submitting a redemption request, it cannot be canceled or modified.
- Daily redemption limits may be imposed by OKX to maintain system stability.
👉 Check current redemption times and fees on OKX.
Risk Disclosure
By participating in ETH 2.0 staking, you accept the following risks:
- Illiquidity Risk: While BETH provides liquidity, ETH remains locked until redemption.
- Market Volatility: Sharp price fluctuations can lead to significant gains or losses.
- Technical Failures: System outages, cyberattacks, or bugs may delay transactions or cause loss.
- Regulatory Changes: Government actions or new laws could impact service availability.
- Unforeseen Events: Natural disasters, war, pandemics, or other force majeure events may disrupt operations.
OKX is not liable for losses arising from these factors. Additionally, OKX reserves the right to update policies or suspend services to protect market integrity.
Frequently Asked Questions (FAQ)
Q: What is BETH?
A: BETH is a liquid staking token representing your staked ETH on the Ethereum 2.0 network. It is issued 1:1 and can be traded or used as collateral on OKX.
Q: Are staking rewards guaranteed?
A: No. Rewards are based on variable network APY and are not guaranteed. Actual returns depend on validator performance and network conditions.
Q: How long does it take to unstake ETH?
A: Redemption processing times vary depending on Ethereum network congestion and daily withdrawal caps set by OKX.
Q: Can I trade BETH?
A: Yes. BETH is fully tradable on OKX’s spot markets and can be used as margin in supported trading pairs.
Q: Is there a minimum amount required to stake?
A: Yes. OKX may set minimum staking thresholds, which are displayed on the platform before you initiate staking.
Q: Who acts as the validator?
A: OKX operates as the validator node on the Ethereum 2.0 network, responsible for proposing blocks and maintaining consensus.
System Maintenance & Limitations
OKX may temporarily suspend access to your account or the staking service for:
- Scheduled or emergency maintenance,
- Compliance with legal obligations,
- Detection of false or incomplete user information.
In cases of system failure due to:
- Third-party infrastructure issues,
- Cyberattacks,
- Natural disasters,
- Government regulations,
OKX shall not be liable for any resulting losses. Users are advised to monitor official announcements for updates.
Prohibited Activities
You must not:
- Engage in market manipulation or insider trading,
- Exploit system vulnerabilities,
- Use the service for illicit financial activities,
- Violate any local or international laws.
OKX reserves the right to:
- Freeze accounts,
- Cancel transactions,
- Terminate access without prior notice.
No compensation will be provided for losses incurred due to enforcement actions taken under this policy.
Modifications & Dispute Resolution
OKX may update this Agreement at any time without prior notice. Continued use of the service after changes are posted constitutes acceptance.
All disputes related to this Agreement are governed by English law and subject to arbitration under the Hong Kong International Arbitration Centre (HKIAC) rules. The arbitration will take place in Hong Kong, conducted in English, with three arbitrators appointed jointly by both parties and HKIAC.
Final Provisions
- This Agreement incorporates all supplementary rules published by OKX.
- If any clause is found invalid, the remainder remains enforceable.
- Transfers of rights under this Agreement require written consent from OKX.
- Headings are for convenience only and do not affect interpretation.
- The English version of this Agreement prevails over any translated versions.
For inquiries, contact OKX via official support channels.
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