This post is a continuation of my post Staking on Eth2.0 without touching the CLI — Testnet only. As the Wagyu Tools team released the official Mainnet version of the Key Generator it was time for a refresh. While staking gets easier and easier I hope to be able to keep documenting the improvements — I’m excited!
I’m writing this for people who want to stake, don’t want to or can’t use the command line, and are comfortable using a third party staking service.
As many, much smarter than I, have written better guides this won’t fully cover setting up an at home but will cover the first step in Somer Estat’s staking guides. If you’d like to use this guide in combination with Somer’s guides you can pick up from Step 2.
What you need/where we’ll go:
- Windows OS (can be done on Mac or Linux as well)
- Metamask wallet with 32ETH to stake and some ETH for gas
- Wagyu Tools Key Generator: https://wagyu.gg/
- Ethereum Launchpad: https://launchpad.ethereum.org/en/
- Staking service of your choice
Prerequisite
Before we begin make sure you have 32.01 ETH in a Metamask wallet. You’ll need 32ETH to stake and 0.01ETH for gas along the way.
Generate keys — Wagyu Key Generator
The first thing we need to do is generate our deposit data and the validator keys. For reference this is “Step 1- Generate Staking Data” in Somer’s guide.
Download the Wagyu Key Generator
Visit https://wagyu.gg/ and download the Key Generator, I am using Windows in this guide. Download & install.
NOTE: For security purposes it’s recommended to generate your keys on an “air gapped” computer. This means download the Key Generator to a USB and generate your keys from a machine that’s never been connected to the internet.
Window will give you a warning because they are unfamiliar with the Wagyu team so they are flagging it. Always check that what you’re downloading & running is safe, in this case it is so we can proceed.
Once complete the Key Generator will open.
Switch to Mainnet & get started
The application opens to the Prater testnet, we need to switch this to the Mainnet.
Now that we’ve switched network because this is our first time staking we’ll choose “Create New Secret Recovery Phrase” to get started!
Your Secret Recovery Phrase
Commonly referred to as a “mnemonic” the Secret Recovery Phrase is how you’ll retrieve your funds when it’s available. Based on how sensitive the information is never, ever, ever share your phrase with anyone under any circumstances. If someone ever asks for your phrase — block and report immediately. If you need more information the Wagyu team supplies two links.
More about Ethereum 2 Keys: https://kb.beaconcha.in/ethereum-2-keys
How to keep your Secret Recovery Phrase safe: https://www.ledger.com/blog/how-to-protect-your-seed-phrase
Once you feel comfortable proceeding click Create.
Once your phrase appears and you’ve stored it somewhere safe, offline that you’ll remember click Next & I’m Sure so you can confirm your key.
Take your seed phrase and type it in each box then click Check.
An aside — I’m a big fan of the individual word confirmations here. I think the bulk copy+paste approach doesn’t provide enough emphasis on what is a very sensitive step. This minor inconvenience forces you to really think about how important this is because you can’t simply paste in the phrase.
If you’ve re-entered your recovery phrase correctly you’ll move onto creating a password. This password encrypts your keystore file so save that somewhere safe. You’ll need this later, especially if you’re DIY staking.
Remember: You need 32ETH for each validator you’re setting up do not choose more validators unless you have the funds to stake!
Once you’ve created & confirmed your password you can now choose a file location.
Save your files somewhere you will have access to. You’ll need both files later on to finalize your set up.
If you’re doing this offline, as recommended, put the files on the USB stick to move them to your internet connected machine.
The Key Generator will create the two files you’ll need to finalize your validator. You have successfully generated keys!
Your validator files
Aside from the super secret Recovery Phrase, the Key Generator created 2 files.
Keystore file(s): This is a sensitive file that’s used to ‘sign’ your transactions — pretty much the whole point of running a validator. If you’re setting up a DIY validator you give this to the ETH2 client you’re using, reference Step 8 in Somer’s guide “Import the Validator Keys”. If you’re using a staking service you’ll provide this file to the service.
Deposit data file: This is your public information on the Validator, it’s how you’ll identify which one is yours. You’ll give this to Ethereum during the Launchpad steps.
Got my files, now what?
With your keys in hand you are now ready to start staking! Before you fund your validator first figure out how you’re going to run the validator. You have two options to make(generally speaking), you can choose a staking service or you can spin up your own validator. If you want to DIY it please go check out Somer’s guides and ideally choose one of the less used software combinations.
Choose a staking service — “not your keys, not your crypto”
When looking for a staking service you want to find one where you control the withdrawal keys ie a “non-custodial” service. BeaconChain, a service you’ll want to get familiar with, has a very handy Staking Services page — look for any of the services where “User” is listed as the Withdrawal key owner. Do your research and find a service you both trust and are comfortable with the fees.
Read over your service’s steps for set up. I prefer to have my service set up prior to funding but not all services work this way. Just make sure you know the desired steps, if you can’t find them or don’t understand the steps — it’s probably not a good service to use.
Fund your validator
Once you’ve chosen your service or you’ve set up your own validator you need to fund the validator with a simple 32ETH transaction 😅. There are many guides that go over these steps, step 10 in Somer’s guides, so I won’t go into much detail.
Go to https://launchpad.ethereum.org/
Read thoroughly and click through all the warning steps.
If you’re using a service the Eth1 & Eth2 client information is not very relevant to you. Click Continue.
Choose your number of validators. This should be the same number you chose above when you set your password.
Remember you need 32Eth per validator plus gas so make sure your wallet is funded!
Thankfully you don’t need to do anything with the CLI app that was all handled for you by the Key Generator. Woohoo!
Take the Deposit Data file that the Key Generator made and you stored and upload it to the launchpad, once done hit continue.
Now is the moment of truth. Connect your wallet and follow the wallet and Launchpad prompts to fund your validator!
Keeping an eye on your validator
Now that you’ve made your keys, funded your validator and configured with the staking service of your choice you need to keep an eye on it. Many of the staking services have their own dashboards and technology for reporting & notifications but I highly recommend downloading and using beaconcha.in . It is an independent way for you to monitor your own validator, get notified on good or bad things, so you can reach out to whatever service you’re using to keep them honest.
Conclusion, Support & Acknowledgements
Big shout out to the Wagyu team, without the Key Generator this would be more complex (and I’d have nothing to write about 😜). While it’s not too hard to use the CLI to generate your keys, it’s error prone and scary for people that haven’t done it before so they’re the real MVPs.
The Key Generator is a critical tool that enables anyone of any skillset to stake their ETH to support the future of the network. To me, if you have more than 32ETH and you’re going to hold it anyway there is no reason NOT to stack at this point.
If you ever run into issues or have questions jump over to the EthStaker Discord and ask. Great group of people that are more than willing to help someone in need. Consider also getting involved, it’s a great way to learn about all of this wild stuff, meet super smart people and feel good about it in the process.
