The Ethereum 2.0 deposit agreement now includes 50,849 ethers (ETH) valued at approximately $ 22 million at the time of publication.
This is a little less than 10% of the required minimum wager of 524,288 ETH, or $ 230 million. The launch of Ethereum 2.0 is planned for December 1st – but only if the minimum bet is reached seven days before this date.
The influx of new deposits seems to have subsided recently, with the majority of potential stakers joining within the first three days of launch.
Ethereum 2.0 stakers have to go through a special launchpad to register validators with 32 ETH stakes each. Although the same person or entity can set more, it must set up multiple validators to do so.
The stake returns are expected to be below 10%, but that number depends largely on the number of active stakers. As they compete for the same rewards, new entrants lower the returns for others.
In particular, Ethereum 2.0 deposits cannot be withdrawn or used until between the implementation of Phase 1 and Phase 2, which can take years.
This can be a significant deterrent to onboarding as stakers sacrifice liquidity for relatively low returns and an uncertain lock-up period. An informal survey by Taylor Monahan, CEO of MyCrypto, seems to suggest that the majority of users would not consider this 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 can change quickly.