EthNexus

Connecting Your Wallet

Step 1 - Click on the 'Connect your Metamask Wallet'

Choose your desired wallet to connect - make sure that this is the wallet that holds the funds you intend to deposit with us.

After this is completed, you are now ready to deposit your funds with us.

Depositing Funds

Step 1 - Navigate to the 'Vault' Tab

Step 2 - Convert ETH to nETH

This action will execute multiple smart contract calls to convert your ETH into nETH. nETH refers to ETH deposited in Nexus' nAsset vaults on the Terra blockchain.

First, the smart contract will stake ETH in the ETH 2.0 program via Lido Finance, resulting in stETH minted. stETH is then bridged over to the Terra blockchain, arriving as bETH. Finally, bETH is deposited into the Nexus vault, with users receiving nETH as a ledger token representing their deposits.

Withdrawing Funds

Step 1 - Navigate to the 'Vault' Tab

Click on the 'Withdraw' button located on the top right hand corner of the UI.

Please note that you must begin the withdrawal process on the Terra blockchain and hence must have your Terra Station wallet connected. Click on the tab to connect your Terra Station wallet if you have not already done so.

When withdrawing your ETH, the smart contract will simultaneously convert the withdrawn bETH into webETH in preparation for the next step: bridging ETH back to the Ethereum blockchain.

Step 2 - Bridge webETH to the Ethereum blockchain

Follow the instructions found in the user interface to bridge your webETH back to Ethereum.

Step 3 - Convert webETH to stETH

Follow the instructions found in the user interface to convert your webETH back to native stETH. In the backend, we interact with Lido Finance for the conversion process.

Step 4 - Swap stETH to ETH (Optional)

As the ETH 2.0 staking program does not allow for unstaking of ETH until the successful completion of the ETH 2.0 upgrade, users are unable to directly redeem their stETH for ETH. However, they can avail of the many stableswap AMMs to swap their stETH back to ETH via liquidity pools. Examples include Curve, and a direct link to the relevant pools will be provided by the EthNexus UI.