Since its introduction in September 2024, the Dinero team has successfully launched several Branded LSTs—a product that enables L1s and L2s to launch their own ETH LSTs, backed by $apxETH, to offer ETH yield to their users.
One of the latest to go live is zkETH, an ETH LST built for the Elastic Chain. This allows users to earn ETH staking yield without leaving the Elastic Chain, and benefit from their DeFi ecosystem as zkETH becomes the go-to choice for liquidity pairs and other integrations.
In this guide I’ll cover everything you need to know about zkETH, including how to stake your ETH, how to provide liquidity on Maverick, how to claim Ignite rewards, and more.
Overviews
Before we start, let's go over all the details to make sure you're fully prepared.
What is zkETH (zkETH)?
zkETH is a native ETH LST that delivers DeFi’s highest ETH staking yield to users and builders on the Elastic Chain. It can be minted with ETH on Ethereum mainnet, ZKsync Era, and soon on other Elastic Chains.
Just recently, zkETH was included in ZKsync Ignite—a nine-month incentive program that aims to establish ZKsync Era as the liquidity hub for the Elastic Chain. This means that current and future zkETH integrations, like the zkETH/ETH pool on Maverick, will receive $ZK incentives.
What is Maverick Protocol?
Maverick Protocol is an AMM with a suite of tools to increase liquidity efficiency across DeFi. First is their Dynamic Distribution Automated Market Maker that keeps capital efficient and makes liquidity providing flexible. Second is their Maverick Boosted Positions, a liquidity incentivization tool that allows projects to direct incentives to precise, targeted areas of a liquidity pool. To learn more, check out their blog.
Obtaining zkETH
Users can mint zkETH through the zkETH UI available here. Once there, select your origin chain (Ethereum or ZKsync Era), input how much ETH you’d like to deposit, then you’re done!
Note: If you’re minting from Ethereum, you’ll have to wait a little longer for your zkETH to make its way to ZKsync Era. This process is tracked in the UI.
zkETH is an indexed LST, so as long as you're holding zkETH, you’re earning the underlying staking yield. To realize this staking yield, simply withdraw from the system (i.e. unstake) and you’ll have more ETH than when you started.
If you encounter any issues, please open a support ticket in our Discord.
Earning on Maverick Protocol
Maverick Protocol makes depositing zkETH as simple as possible. To begin, navigate to the zkETH Boosted Position in the Maverick Protocol dApp:
Before continuing, let’s note a few stats on the UI:
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LP REWARDs: The amount of yield your zkETH will be earning
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TVL: Displays how much zkETH has been deposited into the LP
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FEE: The protocol fee is a small percentage taken from each transaction within the liquidity pool to sustain operations and fund development
To deposit, follow the steps below:
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Connect your wallet
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Note: If you didn’t mint zkETH beforehand, you will need to do so as both zkETH and ETH need to be deposited
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Enter the amount of zkETH and ETH you’d like to deposit
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Click “Deposit” and sign the transaction
After depositing into the zkETH LP, LP tokens represent your share in the boosted position. Additionally, these LP tokens can be staked into the LP contract to earn rewards.
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Connect your wallet
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Select the LP token which is your represent share of of the pool
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Click “Stake” and sign the transaction
If you encounter any issues, open a support ticket in the Discord.
Claiming Ignite Rewards
To begin, navigate to ZKsync Ignite Rewards page. Keep in mind that the UI may not show your rewards immediately, as any earned rewards are updated and claimable every Monday for the prior week:
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Connect your wallet
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Click “Claim” and sign the transaction
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ZK incentives will be added to your wallet
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