Ethereum 2.0 or Eth2, is an upgrade to the Ethereum network. The Ethereum Merge is migrating Ethereum from the current Proof-of-Work network to a new Proof-of-Stake blockchain, Eth2 aims to increase scalability and reduce energy consumption.
As a Proof-of-Stake blockchain, the Eth2 Beacon Chain is built and secured by the network's validators. To participate as a Beacon Chain validator, you must stake ETH by sending it to a deposit contract on the Ethereum network. When you stake through Kraken, we will credit your account with staked ETH and the applicable staking rewards consistent with our Terms and the rules of the Ethereum network.
Please note that after the Shapella upgrade is complete ETH2 will no longer exist. Any ETH2 on your account will automatically be converted to ETH. For more information, check out our Ethereum Shapella Upgrade FAQ
Review frequently asked questions within the sections below:
Where can I see updates that Kraken is making as a result of The Merge?
What are the different stages of The Merge?
What service disruptions are expected during The Merge? (Trading, funding, etc)
Do I need to do anything to have my ETH transitioned to the Proof Of Stake Chain?
What happens to my staked ETH post-merge? Will this automatically be credited to my account or is there any technical work that needs to be conducted first?
What will happen in the event of an airdrop or a fork and what impact would these events have on margin positions?
Can I un-stake ETH?
What are the current rewards for staking ETH, what about after The Merge?
What is the Fee for Staking?
Where can I see my ETH staking rewards?
Do I need to be holding ETH in order to stake?
How do I stake ETH?
How long do I have to wait after staking to begin earning rewards?
Do staked ETH rewards compound using the Grow Rewards option?
Can I trade staked ETH?
Can I use staked ETH or ETH staking rewards as collateral for margin trading?
Is the ETH2.S/ETH market available in Canada and the US?
Will the ETH2.S/ETH market be stable and available until the end of the Ethereum 2.0 transition?
What is the meaning of the ETH, ETH2.S and ETH2 ticker symbols on Kraken?
Will the ETH index for both fixed and perpetual futures continue as the PoS chain?
Will fixed maturity futures be settled to the PoS chain, PoW chain or a combination of both?
Will fixed maturity futures be settled on The Merge date or at the usual settlement date?
How will you handle the ETH perpetual futures contracts? Will you settle it and start a new ETHPoS contract?
Will there be any changes to margin requirements for the currently-listed ETH contracts?
If the ETH PoW airdrop is supported on spot, will this include my Futures balances?
If you have any additional questions, our support specialists are available to assist you.