Haven1 partners with Stader Labs to launch hsETH staking token

Haven1 has announced a strategic partnership with Stader Labs to introduce hsETH, a new liquid staking token aimed at enhancing rewards and participation within the Ethereum ecosystem. This collaboration is set to provide Haven1 users with increased opportunities for Web3 engagement through a secure and efficient platform.

The partnership leverages Stader Labs' multi-pool architecture to offer hsETH, which allows users to engage in Ethereum staking while maintaining liquidity. This feature positions hsETH as an attractive option for those looking to maximise their on-chain yield.

Jeff Owens, CEO and Co-Founder of Haven1, commented: "Our partnership with Stader Labs allows us to leverage their expertise in liquid staking to offer our users a seamless and rewarding staking experience, with early contributors and stakers earning additional airdrop rewards. hsETH is a real game-changer for Haven1, highlighting that, even as an L1, Haven1 complements Ethereum."

By staking ETH to obtain hsETH, users will gain access to native ETH staking rewards as well as additional Haven1 ($H1 token) airdrop rewards accessible within the Haven1 ecosystem. The new token will receive robust support on Haven1, enabling users to augment their earnings through various on-chain products once Haven1 launches on mainnet.

Anoothi Kumar, Chief Business Officer at Stader Labs, expressed enthusiasm about the partnership: "We are thrilled to partner with Haven1 to bring liquid staking to their security and liquidity-focused Safe Haven ecosystem. We believe that hsETH will empower Haven1 users to maximise their staking rewards while maintaining the flexibility to explore the full range of opportunities within the Haven1 platform."

Both companies aim to build a more decentralised and user-friendly staking experience, making ETH staking accessible to a broader audience, including both novice and experienced users. By overcoming the barriers of technical complexity and illiquidity, hsETH rewards users who stake their ETH to secure the Ethereum network while retaining the ability to utilise their assets within Haven1's secure ecosystem.

Haven1 plans to launch its mainnet in Q3 2024. Post-launch, users will be able to trade hsETH seamlessly, use it as collateral, and participate in various on-chain applications to earn additional yield within the Haven1 ecosystem.