This comprehensive guide is tailored for ETH holders under Fordefi custody who are ready to restake through EigenLayer via Figment. 

If you’re currently staking ETH with Figment and intend to restake through EigenLayer, you’ll need to exit your validators. Following the Shapella upgrade, all Figment validators have been provisioned with 0x01 withdrawal addresses. However, it’s important to note that existing 0x01 withdrawal credentials cannot be redirected to an EigenPod address, which is a necessary step for ETH restaking through EigenLayer.

Steps

Sign up or log into Figment. Navigate to your Dashboard to get started staking Ethereum. Locate the “Stake” button on the right. In this case, the button says “Stake hETH” since we are using the testnet (Holesky) in this example.

Click the “Stake” button to proceed.

Now, let’s connect your wallet. Within Figment, you can connect any MetaMask or WalletConnect compatible wallet. To get started, ensure you have successfully installed Fordefi’s Chrome extension and that it is active. Once installed, it will appear in the list of options within the connect wallet widget.

Next, connect through the Fordefi browser extension.

Then, connect via Fordefi browser extension.

Please note that when connecting through the Fordefi extension, your wallet address will correspond to the Fordefi connected vault. Before proceeding, please double-check the displayed wallet address to ensure it is correct and corresponds to your intended wallet.

When you are ready to proceed, click “Deploy EigenPod”. 

Native staking on Eigenlayer requires an EigenPod, a smart contract associated with your wallet address.

Note: a wallet address or vault can only have one EigenPod associated with it. If an EigenPod has already been created for the linked wallet address or vault, Figment automatically displays this previously generated address.

Once you click “Deploy EigenPod” it will prompt you to confirm this transaction in your Fordefi browser extension.

Click “Create” and proceed. Upon approval, you should see a successful contract call to create the EigenPod. This transaction costs 0 ETH with the exception of a transaction fee. This EigenPod is where all consensus layer rewards will accrue and principally staked ETH will end up once a validator is exited.

Please configure your policy rules to facilitate smooth interaction between your Fordefi environment and EigenLayer. You can whitelist the smart contract address from the Fordefi console, under the Policy tab, to permit interactions with it.

Slide the bar to determine the amount of ETH you wish to stake.
Before proceeding to the next step, click on ‘More Options‘ to verify the Fee Recipient address is correctly set to your wallet address in your Fordefi vault.

Then when clicking on “Continue” a new window will pop up to verify the staking information. This includes the Staking Amount, Validator Location, Funding Address, Fee Recipient Address, and EigenPod Address.

After reviewing the information and ensuring everything is correct, click on “Confirm Stake” to finalize the process.

Upon confirming your staking details, the Fordefi browser extension will present a pop-up to facilitate your interaction with the FigmentEth2Depositor contract. To complete this action securely, confirm the transaction through the Fordefi mobile application.

Please configure your policy rules to facilitate smooth interaction between your Fordefi environment and the Figment Depositor Batch Contract. You can whitelist the smart contract address from the Fordefi console, under the Policy tab, to permit interactions with it.

Once approved, you will receive a notification confirming the successful provisioning of your validators.

You have now successfully staked & restaked your ETH. 

These validators will appear in your Figment dashboard under the status of “Activating” and will subsequently enter the activation queue. Upon their activation, you will receive another email notification from Figment and the status will be updated accordingly on your Figment dashboard.

Note: restaking points only accrue with mainnet ETH and not Holesky testnet ETH.

To exit your EigenPod-linked Figment validator, simply navigate to the Unstake button within your Figment dashboard. Upon initiation, the validator will enter the withdrawal process, reflecting its updated status within your Figment account’s validator dashboard. Upon completion of the exit queue, your staked ETH will move to the EigenPod, allowing you to proceed with the Unstake process.

For security purposes, all funds unstaked from EigenLayer Mainnet undergo a mandatory 7-day escrow period before a withdrawal is permitted.

This guide has laid out a clear path for Fordefi ETH stakers looking to leverage the innovative opportunities of EigenLayer through Figment. With Figment’s cutting-edge technology and Fordefi’s secure custody solutions, you’re well-positioned to optimize the potential of your ETH holdings. 

For any further assistance or inquiries, the Figment team is ready to support your journey in the evolving world of Ethereum staking and restaking.

The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax, or investment advice. Figment undertakes no obligation to update the information herein.