Basic Introduction
- What is Aspida？
Aspida is a liquid staking infrastructure designed to enhance Liquidity Staking Token (LST) assets across major cryptocurrencies. We are committed to advancing decentralization by prioritizing the integration of underlying services that enhance decentralization, such as our collaboration with Distributed Validated Technology (DVT) solutions like SSV to decentralize validator sets. Our primary focus remains on optimizing risk-adjusted staking yields, achieved through initiatives like integrating native staking via Eigenlayer.
We offer a decentralized, secure, and highly compatible staking service for Liquidity Staking Derivative (LSD) assets. In addition to launching our inaugural ETH LSD asset (saETH), we are actively developing innovative LSD solutions for the Ethereum network.
- Why Aspida？
- Security and Expertise. The Aspida team possesses extensive domain expertise in Proof of Stake (PoS) networks and validation, with over 7 years of experience in PoS network validation. Security remains a paramount concern at Aspida, with top-tier security auditors engaged for all smart contract audits, complemented by an ongoing bounty program to further enhance security measures.
- Protocol-Own-Liquidity. The protocol is designed to maximize capital efficiency while internalizing liquidity via protocol-own-liquidity module, to provide secondary market liquidity via different liquidity venues.
- Staking Threshold. There is no minimum staking threshold, any amount of ETH amounts qualify for accruing staking rewards in Aspida.
- Optimized Risk-adjusted Yields. Aspida seamlessly integrates with restaking protocols such as Eigenlayer to capture additional yield and continually explores further integrations to optimize risk-adjusted yields.
- Decentralization. Adhering to Ethereum’s decentralized principles, Aspida natively integrated with permissionless operator networks leveraging DVT networks, such as SSV.
- Protocol Backstop. To mitigate slashing risks, both operators and the Aspida DAO treasury stand ready to cover any losses, providing protocol-native insurance against slashing events.
- Multichain Interoperability. Aspida is committed to building customized cross-chain features to enable seamless cross-chain interoperability, facilitating greater flexibility and accessibility across multiple blockchain networks.
Token
- What is Aspida Duo Token Model?
Aspida’s LSD operates on a dual-token model consisting of the wrapped token, aETH (a deposit certificate of native ETH tokens wrapped 1:1 with ETH), and saETH (ERC4626), the staking token representation minted upon aETH staking.
Primarily, aETH serves as a means for protocol-controlled liquidity provision, significantly enhancing liquidity efficiency. The amount of saETH staking yield increases as users hold more aETH (with no yield). This dual-token model allows users the freedom to choose the yields they wish to capture, whether from liquidity provision or staking.
- What is aETH?
aETH serves as the deposit certificate of the native ETH token and can be minted with ETH at a 1:1 ratio. It can also be withdrawn into native ETH via unstaking, or users can simply exchange between aETH and ETH via Aspida’s native liquidity module or external DEX.
- What is saETH?
saETH is a staking ETH LSD staking token,it is an ERC-4626 compliant token that is minted upon aETH staking.
Mint & Stake
- How to Mint aETH?
- Enter the amount of aETH you would like to mint, then click the “Mint” button.
- Confirm the transaction to execute the minting process.
- The page will display “Successfully Minted”. Click “View on Ethereum” to verify the transaction details.
- Your minted aETH balance will be displayed on the page (exchange rate: 1ETH = 1aETH).
Please refer to the detailed guide available at here for comprehensive instructions.
- How to stake saETH?
- First you need to add aETH and saETH token to wallet. Click the “Add Tokens to Wallet” and request the wallet to execute the “Add Token” operation.
- Click the “Approve” to request the wallet authorization.
- Enter the amount of saETH you would like to stake, then click the “Stake” button.
- Confirm the transaction to execute the process.
- The page will display “Successfully Staked”. Click “View on Ethereum” to verify the transaction details.
Please refer to the detailed guide available at here for comprehensive instructions.
Withdrawal
- How to Request aETH → ETH Withdrawal?
- Enter the amount of aETH you would like to withdrawal, then click the “request withdrawal” button.
- Click the “Request withdrawal”, the DApp will send a request to your connected wallet. Confirm the transaction to execute the withdrawal process.
- The page will display “Request withdrawn Successfully”. Click “View on Ethereum” to verify the transaction details.
Please refer to the detailed guide available at here for comprehensive instructions.
- How to Unstake saETH → ETH?
- Enter the amount of saETH you would like to “Unstake & Withdrawal”, then click the “request withdrawal” button.
- Click the “Unstake & Withdrawal”, the DApp will send a request to your connected wallet. Confirm the transaction to execute the Unstake & Withdrawal process.
- The page will display “Unstake & Withdrawal Successfully”. Click “View on Ethereum” to verify the transaction details.
Please refer to the detailed guide available at here for comprehensive instructions.
- Withdrawal Queue?
The withdrawal process follows a First In, First Out (FIFO) queue. User withdrawal requests are locked in and executed in the order they are completed. Once a withdrawal request is submitted, it cannot be canceled.
The withdrawal process follows a First In, First Out (FIFO) queue. User withdrawal requests are locked in and executed in the order they are completed. Once a withdrawal request is submitted, it cannot be canceled.
- Withdrawal Mechanism？
When a withdrawal request is received, the Aspida protocol evaluates it against the available ETH balance in the contract:
If the withdrawal request amount is less than the available ETH balance, the withdrawal operation will be immediately confirmed.
During this period, if the available balance within the contract meets the withdrawal request, it is prioritized without waiting for the completion of the Node Withdrawal. This ensures the fastest possible processing time for user withdrawal requests.
Slashing, Special Situation: In the event widespread network slashing occurs, an emergency plan to halt withdrawals will be initiated.
- How to Claim ETH?
After initiating the withdrawal transaction, there are two states: “Request Withdrawn sent successfully” and “Request Withdrawn Successfully.”
Ready to Claim: You can claim it by executing a withdrawal transaction on your personal wallet.
Pending: The transaction has been submitted to the blockchain network but awaits confirmation and execution, thus entering a pending state.
Please refer to the detailed guide available at here for comprehensive instructions.
Portfolio
- Holdings Assets Definitions
- saETH balance: Total staked stETH balance.
- Daily rewarded: Staking rewards in aETH earned.
- APR: Average annual percentage.
- How to Obtain Shields?
- Shields earned via your Mint/Stake: Staking rewards earned by Mint/stake crypto assets.
- Shields earned via your Vault/Pool: Mining pool rewards earned by participating in mining pools.
- Share Referral Links to earn more Shield rewards. Referrals: Invite friends to mine and earn referral rewards.
Risk
- Are there any Potential Risks in the Staking Process?
Sure, Liquid staking protocols in general pose several risks to ETH stakers that warrant acknowledgment:
Smart Contract Risk: Aspida’s smart contracts could potentially contain defects or vulnerabilities, though mitigated through regular audits and bug bounty programs.
ETH 2.0 Technology Risk: As Aspida builds upon Ethereum, it naturally inherits the underlying technology’s risks, which may include flaws and vulnerabilities.
Penalties and Slashing: Node operators’ validators risk penalties and slashing by the Ethereum Beacon Chain for missed attestations or satisfying slashing criteria, potentially imperiling a significant share of staked ETH over time. Aspida mitigates this through access to reputable, professional node operators, collateral requirements, and insurance coverage.
saETH Price Fluctuations: Secondary market saETH token prices could depeg if markets become oversupplied with saETH.
- Audits
Adspida’s smart contracts are audited by MixBytes.
- The audit report for aETH/saETH (Liquid Staking) can be found here.
- Aspida will engage in continuous auditing post-mainnet launch.
- Bug Bounty
- The Aspida Bug Bounty Program is set to kick off on February 22, 2024.
- Everyone can report bugs and earn rewards via the Immunefi platform at: https://immunefi.com/bounty/aspida/.
- The rewards will vary depending on the severity of disclosed vulnerability.
Aspida Bridge
- The Functions of Aspida Bridge?
The primary function of Aspida Bridge is to facilitate the transfer of saETH from Arbitrum to Ethereum.
- How to use Aspida Bridge?
- Visit https://bridge.aspidanet.com.
- Click the “Connect Wallet” button in the top right corner.
- Switch the network to Arbitrum.
- Click “Approve” to request wallet authorization.
- Switch the network to Arbitrum.
- Enter the amount of saETH you would like to transfer, then click the “TRANSFER” button. Clicking the “TRANSFER” button, the DApp will send a cross-chain request to your connected wallet.
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