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Create validator keys

Each validator needs a signing key and a withdrawal address. You create both with the EthStaker deposit CLI, which writes a 24-word mnemonic, one keystore file per validator, and a deposit data file for the Staking Launchpad.

Operating system
Network

Before you begin​

  • Pick your withdrawal address: an Ethereum address you control, ideally in a hardware wallet. Not an exchange address. It can't be changed later.
  • Decide how many validators you want (32 ETH to 2048 ETH per validator).
Use an offline machine if you can

The mnemonic controls your validators. The safest place to create it is a computer that is not connected to any network, for example, a spare laptop with Wi-Fi off, or a live USB system such as Tails. Download and verify the deposit CLI on another machine, then copy it to a USB stick.

Regular or compounding​

TypeWhat happens to rewards
Regular (0x01)Anything above 32 ETH is paid to your withdrawal address automatically
Compounding (0x02)Rewards stay staked and earn more, up to 2048 ETH per validator; you withdraw on request

Pick regular if you want rewards paid out and one validator per 32 ETH. Pick compounding if you want rewards to compound or one validator with more than 32 ETH. You can upgrade a regular validator to compounding later, but not back.

Generate your keys​

  1. Download the deposit CLI for your platform from the releases page and check its SHA-256 sum against the .sha256 file next to it.

    Extract the archive. It contains the deposit executable.

  2. Run new-mnemonic from the extracted folder:

    ./deposit new-mnemonic --chain=mainnet

  3. Answer the prompts. The CLI asks for the mnemonic language, the number of validators, your withdrawal address, and a keystore password. You type this password again when you import the keys into Prysm.

  4. Write down the mnemonic. The CLI shows 24 words, then asks you to type them back. Store them on paper or steel, in more than one safe place, and never type them into a website or an online machine.

  5. Check the success message:

    Success!
    Your keys can be found at: <FOLDER>/validator_keys
The mnemonic is the master key

Anyone with your mnemonic can sign with your validators. If you lose it and your keystores, you can't recover the validators.

What you get​

  • validator_keys/
    • keystore-m_12381_3600_0_0_0-<TIMESTAMP>.json one keystore per validator, encrypted with your keystore password
    • deposit_data-<TIMESTAMP>.json one entry per validator, uploaded to the launchpad
  • The keystores go to your validator machine.
  • The deposit data file contains no secrets.

Back up the keystores and their password. They're enough to run the validators; the mnemonic is enough to recreate everything.

Add more validators later​

Run existing-mnemonic. When the CLI asks for the starting index, enter the number of keys you already have, so it doesn't recreate them:

./deposit existing-mnemonic --chain=mainnet