What is pxETH?

pxETH, developed by Dinero, offers a user-friendly, liquid staking solution that serves as the foundation for the Dinero protocol.

Why stake with pxETH?

Staking through pxETH provides a simpler solution than solo staking. Solo staking requires technical understanding, mandates a 32 ETH deposit, poses risks of slashing and offline penalties, and locks funds for extended periods. Centralized staking alternatives entrust your validator keys to a centralized third party, introducing risks of malice, attacks, or regulatory actions.

Liquid staking with pxETH side steps these pitfalls. It offers non-custodial staking with professional validator oversight. Users can stake tokens and simultaneously tap into their liquidity for DeFi use cases, optimizing individual rewards and increasing overall staking participation.

What is the pxETH token?

Users can obtain pxETH by depositing their ETH into the Dinero protocol. pxETH is designed to maintain a 1:1(ish) peg with ETH, offering liquidity and the opportunity to participate in various yield-earning activities throughout DeFi. It is a flexible option for those willing to forgo staking rewards to pursue other forms of yield.

What is apxETH?

Users can obtain apxETH by depositing pxETH into Dinero's auto-compounding rewards vault (i.e. staking their ETH). Depositing pxETH into the vault results in boosted staking yield for apxETH, as not all pxETH is staked. Each apxETH benefits from the staking rewards of more than one staked ETH, amplifying apxETH's yield.

Why two tokens?

The decision to implement a two-token model with pxETH and apxETH aims to optimize both liquidity and yield. By distinctly separating these components, pxETH focuses on providing enhanced DeFi yields, while apxETH maximizes staking rewards.