Editor's Note: This article comes fromTalk about Xia Kanshi (ID: huaxiakiss), Author: Hua Xia, published by Odaily with authorization.

Editor's Note: This article comes from

Talk about Xia Kanshi (ID: huaxiakiss

Talk about Xia Kanshi (ID: huaxiakiss

), Author: Hua Xia, published by Odaily with authorization.

With the stimulation of the ETH2.0 beacon chain entering the creation stage, the media, big V, etc. are also intensively outputting content about ETH2.0. However, judging from the content of the output, especially the data involved, the data has been exaggerated intentionally or unintentionally.

Such an exaggeration is beneficial for exporters to attract attention for a while; but for individual investors, if they rashly participate in ETH2.0 pledge and other operations based on the exaggerated data, they may regret it in the future. But what's the use of regretting? Before entering phase 2, the pledged ETH cannot be redeemed. It is conservatively estimated that the intermediate freezing period is 1-2 years. Therefore, before deciding whether to participate in staking, it is absolutely necessary for individual investors to understand the real ETH2.0 related data.

There are many things about ETH2.0, but at this stage, what individual investors want and should know most is the possible pledge rate, possible rate of return, and current data.

Below, I briefly list them.

The official entry of ETH2.0 is marked by the launch of the beacon chain. In the future, the beacon chain will also serve as the network control center of the entire POS chain. The launch of the beacon chain needs to meet a minimum pledge threshold, which is 525,488 ETH. As of now, the number of ETH pledged has just exceeded 70,000.

The start time is December 1st, and it is expected that the requirements can be successfully met. The progress in the early stage is slow, mainly because some large ETH investors who plan to participate will choose to pledge before the deadline due to the consideration of capital utilization.

If calculated with the lowest start-up threshold of 32*16384 (that is, 525488 ETH), the pledge yield is about 23%.

However, the pledge rate of return of ETH2.0 is a process of continuous decay with the increase of the pledge amount.

Therefore, many articles write that the pledge rate is expected to reach 50% soon, and according to the benchmarking of an excellent pos project, the pledge rate should reach 70%. Obviously Ethereum is excellent, so the pledge rate of 70% is also no problem. At the same time, it is also written that the potential rate of return is 15%, and the pledge rate is calculated according to 50%. The annual income of staking reaches 2.8 billion US dollars. If the node service provider charges a 20% commission, the annual income will be 570 million US dollars.

The above calculation is obviously wrong. Here are a few issues:

1. It is unlikely that Ethereum will reach a 50% pledge rate, and 70% is even more negligible.

There are several reasons. Due to the effect of time precipitation, the Ethereum chips are scattered; at the same time, the scene consumption caused by multi-purpose has already had obvious ecological basic token attributes. The reason why many POS projects we have seen (such as iris, cosmos, dot, etc.) have reached 50% or even 70% of the pledge rate is partly because, from the very beginning of the launch, the node pledge function has been launched, and the chips are concentrated. There are almost no other usage scenarios, and most users' tokens can only choose to pledge to maintain value.

And ETH, project fundraising, transfer fees, contract transactions, DEFI, NFT, CX disks, etc. all need to take up a lot of proportion. Of course, this is only part of the story.

Therefore, it is necessary to point out that when we look at the pledge rate of ETH2.0, we need to treat it differently from other traditional pos projects. As far as ETH is concerned, the ideal state is to achieve a pledge rate of 30%-45%; and Rome was not built in a day, and the previous milestone target is 10 million, with a pledge rate of about 9%.

2. Regarding the pledge rate of return, it is not as sexy as imagined.