Hord is a DeFi protocol for tokenized pools represented by a single pool token, including ETH staking. Hord's liquid staking token, hETH, represents the amount of ETH staked and earning rewards within the Ethereum Proof-of-Stake network through the Hord protocol. By staking Ethereum on Proof-of-Stake, Hord node operators can increase the value of hETH relative to ETH through the resulting rewards. Holders of Hord's liquid staking token can benefit from the returns generated by the Ethereum Proof-of-Stake network through the Hord protocol.
- Hord’s hETH token is an ERC-20 token representing the user’s staked ETH and various rewards. hETH’s high APR is achieved by combining ETH staking rewards, MEV rewards, and additional Hord rewards. All MEV rewards are auto-compounded into the ETH staking pool to provide a higher APR than competitors.
- When users stake ETH on Hord’s platform, they send their ETH to a secure staking smart contract and receive hETH in return. Hord plans with hETH is to develop a liquid staking derivative that delivers value to stakers and the Ethereum ecosystem.
- In exchange for staking ETH at Hord, users receive hETH, representing their staked ETH combined with rewards. Therefore, hETH is expected to have a higher value than ETH.
- Holders of hETH will be able to trade it or redeem it for its underlying value in ETH after the Shanghai hard fork. Once a user redeems hETH, the token will be sent to a burn address.
