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The deposit agreement for Ethereum 2.0 now contains 50,849 Ether (ETH), worth approximately $ 22 million at the time of publication.
This is slightly less than 10% of the minimum required bet of 524,288 ETH, or $ 230 million. Ethereum 2.0 will be launched on December 1st, but only if the minimum stake threshold is reached seven days before that date.
The influx of new deposits appears to have dwindled recently as most of the potential stakers joined within the first three days of launch.
Ethereum 2.0 stakers must go through a dedicated launchpad to register validators with a share of 32 ETH each. Although the same person or entity can stake more, they must set up multiple validators to do so.
Stake returns should be below 10%, but that number largely depends on the number of active stakers. Since they will compete for the same prizes, new entrants will lower their earnings for others.
In particular, Ethereum 2.0 deposits cannot be withdrawn or used until a certain period of time between the implementation of Phase 1 and Phase 2, which could take years.
This can be a significant deterrent to onboarding, as stakers will sacrifice liquidity for relatively low returns and an uncertain lockup period. An informal poll held by Taylor Monahan, CEO of MyCrypto, appears to do so to suggest that most users would not consider it a worthwhile investment.
The Ethereum community still has two weeks to reach the deposit threshold before the launch is delayed. While progress has been relatively slow so far, this could change rapidly.
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