<p>Introducing Symbiotic, the latest innovation in the Restaking space!</p><p>With over $2B TVL in pre-stake collateral, Symbiotic poses a fascinating approach to the Restaking ecosystem, an abstraction that has garnered significant attention this year.</p><p>The Symbiotic team describes it as:</p><blockquote>a “cutting-edge permissionless staking protocol that enhances network security and capital efficiency. By enabling flexible and decentralized economic agreements, Symbiotic supports a wide range of applications and empowers network participants permissionless.”<br>source: <a href="https://symbiotic.fi/?ref=p2p.org">https://symbiotic.fi</a></blockquote><h2 id="the-layers-of-symbiotic"><br><strong>The Layers of Symbiotic</strong></h2><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc09ygJ-JV16E_Fc1_zpQFAQdnd4DzPdPTnPSZtNzWV3Clmgj4kys24_vAf3fQxzPtt2HYFNnr36H7cRRXh6OwVb-Wzlh68mArkerIp573YcE27I8j3MEfce8Q7zR_wPM_hIc9pUYMrXRQ4aS4Cpm3JxOxR?key=_AIPlLzYw1B1zWtBxSM2WQ" class="kg-image" alt loading="lazy" width="1600" height="900"></figure><p></p><p><strong>Collateral </strong>serves as the economic security layer, where users can deposit a variety of assets, including, but not limited to, ERC20 tokens, withdrawal credentials of Ethereum validators, or LP positions utilized in DeFi. Symbiotic’s mission is to be chain agnostic, where assets outside of the Ethereum ecosystem can be leveraged to secure Networks built on top of their platform.</p><p></p><p><strong>Vaults </strong>represent the (re)staking layer. They are responsible for delegating collateral to Operators either in a custom manner or via Operator-specific vaults. Furthermore, Symbiotic’s modular architecture allows vaults to manage accounting, delegation strategies, rewards distribution, slashing, and collateral specifications. This intermediary layer serves as a connecting point between Networks and operators, where users can delegate their assets.</p><p></p><p><strong>Operators</strong> are the engines that power Symbiotic’s respective Networks. These entities run infrastructure to maintain services required by Networks, so it is essential to delegate assets to an Operator with a strong reputation and track record (like <a href="P2P.org" rel="noreferrer">P2P.org</a>!).</p><p><strong>Resolvers</strong> are the checks and balances of Symbiotic. Since this platform is inherently flexible, resolutions for slashing can come in several different forms. Slashing terms are set at the vault level and can be passed to specific entities, smart contracts that review slashing penalties, or leverage external dispute resolution frameworks.</p><p></p><p><strong>Networks </strong>built on top of Symbiotic to attract economic security. These trust-minimized services include but are not limited to decentralized sequencing of transactions, off-chain consensus, and automation. In return for the economic security restakers and operators provide, networks create their own incentive mechanisms and slashing conditions to reward good actors and punish malicious behavior.</p><p></p><h2 id="symbiotic-value-proposition"><strong>Symbiotic Value Proposition</strong></h2><p></p><ol><li><strong>Asset support</strong>- Symbiotic’s goal is to create a thin unified coordination layer with nearly unlimited possibilities in asset support for vault collateral (ERC-20, chain agnostic, LP positions in DeFi)<ol><li>Note: Collateral designated by a vault must be agreed upon by both Operators and Networks for there to be a Symbiotic relationship ;)</li></ol></li><li><strong>Flexibility—</strong>Networks can adjust security parameters and utilize various assets to reach their optimal performance for economic security.</li><li><strong>Decentralized Resolution—</strong>Slashing is determined at the vault level and can be delegated to decentralized entities (which can also select more than one framework).</li><li><strong>Decentralized Architecture + Robust Security—</strong>Symbiotic’s core contracts are non-upgradeable which significantly reduces governance risks and eliminates points of failure</li></ol><p></p><h3 id="vault-coordination"><strong>Vault Coordination</strong></h3><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcBnzldKN0rknCu4_uZ7fnEni_ofhpepomfaavKU4YXHyzYBpnE5aWEmLxs5j8Z_NTxJm4lwcb3A0niwz0PgCI8_UK1NxH4D3b5EcAAY70qDheRaiJ1pHls4vd273MKA-fNu2sRDbYc3EQNTv3uQVz2LQVs?key=_AIPlLzYw1B1zWtBxSM2WQ" class="kg-image" alt loading="lazy" width="1600" height="893"></figure><p><br><strong>For</strong> <strong>operator-specific vaults, a user deposits collateral into a Symbiotic vault of their choosing. The funds deposited in the vault are then delegated to a specific Operator (e.g., the </strong><a href="p2p.org" rel="noreferrer"><strong>P2P.org</strong></a><strong> vault), </strong>who is responsible for managing the infrastructure. In return, Networks leveraging this vault will reward the Operators and the Restakers for participating.</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">Note: Operators and Networks opt-in to work with each other based on several factors, one of which includes a designated collateral agreement in a vault (i.e., accepting stETH)</div></div><p></p><p><br>For <strong>LRT-specific vaults, </strong>a user deposits collateral through an LRT platform (e.g., Mellow Finance, ether.fi, Renzo, Puffer). In return for the collateral, these LRT platforms generate a liquid LRT token, which is given back to the user to manage the yield and can be used in alternative DeFi strategies. </p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text"><i><em class="italic" style="white-space: pre-wrap;">For example, if a user deposits wstETH in ether.fi’s Symbiotic Restaking vault, they will receive weETH, which serves as a token representing the staked ETH position and is liquid for use in various DeFi applications</em></i>.</div></div><p></p><p><br>From there, the LRT platform deposits into the Symbiotic vault on behalf of the user. This vault is customized based on the arrangement deemed by the curator (opt-ins with Operators and Networks) to earn rewards.</p><h2 id="faq"><br><strong>FAQ</strong></h2><h2 id></h2><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How can I do restaking for Symbiotic?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">While Symbiotic is not yet in mainnet, there are a couple of ways to get involved!</span></p><ol><li value="1"><span style="white-space: pre-wrap;">Visit </span><a href="https://symbiotic.fi/?ref=p2p.org"><u><span class="underline" style="white-space: pre-wrap;">https://symbiotic.fi</span></u></a><span style="white-space: pre-wrap;"> to restake and earn Symbiotic points ahead of mainnet release, or</span></li><li value="2"><span style="white-space: pre-wrap;">Visit </span><a href="https://app.mellow.finance/vaults/ethereum-rsteth?ref=p2p.org"><u><span class="underline" style="white-space: pre-wrap;">https://app.mellow.finance/vaults/ethereum-rsteth</span></u></a><span style="white-space: pre-wrap;"> to restake in P2P’s exclusively curated vault to earn Mellow and Symbiotic points.</span></li><li value="3"><span style="white-space: pre-wrap;">Once Symbiotic is officially live on the mainnet, users can restake directly on the Symbiotic platform and delegate to a trusted Operator(s) of their choosing (P2P.org!).</span></li></ol></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What are restaking points?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><b><strong style="white-space: pre-wrap;">Symbiotic</strong></b><span style="white-space: pre-wrap;"> restaking points measure a restaker’s contribution to the Symbiotic Finance protocol. This is calculated by tracking the amount restaked in pre-stake collateral and the time restaked. Once vaults are live in the mainnet, the Symbiotic points system will be adjusted where most of the points emission will be re-directed to vaults.</span></p><p><b><strong style="white-space: pre-wrap;">Mellow Finance</strong></b><span style="white-space: pre-wrap;"> restaking points are given to early adopters who facilitate the growth and success of the Mellow ecosystem. This is measured by tracking the amount of assets restaked and the length of time in a given Mellow vault. </span></p><p><br><i><em class="italic" style="white-space: pre-wrap;">💡 Note:</em></i><span style="white-space: pre-wrap;"> While the Symbiotic or Mellow team has not officially announced the purpose of the points system or whether it will translate to future token airdrop allocation, Restakers/ Operators/ Vault Curators are anticipating potential future rewards.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What is slashing?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Penalization of participating Operators in a Network for not fulfilling the technical requirements necessary to support adequately or for malicious behavior.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How does Symbiotic handle slashing?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Symbiotic leverages a unique framework where slashing is handled transparently. ‘Resolvers are entities, smart contracts, or decentralized resolution frameworks that can veto such incidents to improve overall security for participants.</span></p><p><span style="white-space: pre-wrap;">Immediate slashing: When a violation is detected, the Network sends a slashing request to the vault, and the vault’s slasher module processes the request.</span></p><p><span style="white-space: pre-wrap;">Veto-based slashing- a veto period begins when the vault’s designated resolver(s) block or approve the slashing.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How secure is Symbiotic platform design?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Symbiotic's unique value proposition is that its core contracts are non-upgradeable (like Uniswap). The immutability of these contracts eliminates risks from external governance processes and potential points of failure. Symbiotic's mission is to eventually become a fully decentralized application.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How are Symbiotic vaults managed?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Symbiotic’s modular approach helps diversify risk since Stakers, Operators, and Networks can opt- into multiple vaults rather than only a single vault.</span></p><p><span style="white-space: pre-wrap;">Vaults can have multiple operators, which helps prevent downtime and reliance on a single point of failure.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How to exit from Symbiotic and Mellow Finance vault?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><b><strong style="white-space: pre-wrap;">For Symbiotic,</strong></b><span style="white-space: pre-wrap;"> withdrawal periods are set at the vault level, allowing restakers to choose a vault that meets their withdrawal wait time needs. During withdrawal periods, access to funds is delayed so that restakers may face potential circumstances such as slashing and token price volatility.</span></p><p><b><strong style="white-space: pre-wrap;">For Mellow Finance, </strong></b><span style="white-space: pre-wrap;">withdrawals are handled by vault curators in batches within 1-4 days. In emergencies, users can force the withdrawal themselves if 90 days have passed since the withdrawal request.</span></p></div> </div><h2 id="about-us"><br>About Us:</h2><p>P2P.org is an early supporter of <a href="symbiotic.fi" rel="noreferrer">Symbiotic</a> and its corresponding Networks that leverage the platform. We are excited to extend our support as Node Operators and continue to make restaking as safe and secure as possible.</p><p>We've prepared this comprehensive FAQ to answer all your questions about Symbiotic Restaking. We encourage you to read it to gain deeper insights into how restaking works.</p><p>But in case you still have some questions:</p><hr><p><strong>Contact Us</strong></p><p>We are always open to communication. Do not hesitate to ask questions in our Telegram chat. For any questions or support, please get in touch with our team at <a rel="noopener">[email protected]</a>.</p><p>We encourage you to check our website and start our staking journey together!</p><ul><li><strong>Web</strong>: <a href="https://p2p.org/?ref=p2p.org" rel="noopener">https://p2p.org</a></li><li><strong>Blog</strong>: <a href="https://p2p.org/economy?ref=p2p.org" rel="noopener">https://p2p.org/economy</a></li><li><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator?ref=p2p.org" rel="noopener">@p2pvalidator</a></li><li><strong>Telegram</strong>: <a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noopener">https://t.me/P2Pstaking</a></li></ul>
from p2p validator
<p><strong>We are thrilled to announce that claims for our Operator Allocation Share program are now open.</strong> This initiative will distribute a share of <strong>828.08 ETH</strong> (valued at approximately <strong>$2.2 million</strong>) to our eligible delegators, strengthening our position as the leading operator within the EigenLayer ecosystem.</p><p>This unique allocation model is designed to recognize and reward both larger delegators and our long-term, loyal community members. To reflect this commitment, <strong>25% of the allocation is reserved for delegators who have staked with us for an extended period and engaged with other products, like Ethereum staking dApp</strong>.</p><h2 id="advancing-the-restaking-ecosystem">Advancing the Restaking Ecosystem</h2><p>Beyond the allocation share, we're introducing new initiatives to further bolster the restaking ecosystem, focusing on enhancing security, accessibility, and transparency. Our upcoming developments include:</p><ul><li><strong>Risk Engine</strong>: We're developing a risk engine to help you more confidently navigate the AVS (Actively Validated Services) landscape.</li><li><strong>Streamlined Rewards Management</strong>: Soon, you'll be able to claim and manage rewards from multiple AVS pools with a single click.</li><li><strong>Risk Mitigation Research</strong>: We're conducting in-depth research to explore risk mitigation approaches to protect users as the protocol prepares for slashing events.</li><li><strong>Open-Source Contributions</strong>: We continue to contribute to open-source projects, including community dashboards and operator tools, aimed at enhancing transparency and ecosystem performance.</li></ul><h2 id="claim-your-allocation-today">Claim Your Allocation Today</h2><p>The official claim for eligible delegators is now open. <strong>To check your eligibility and claim your share, please visit: </strong><a href="https://app.p2p.org/claim?ref=p2p.org" rel="noopener"><strong>https://app.p2p.org/claim</strong></a></p><p>For more details on how to participate and learn about the allocation distribution model, please visit <a href="https://p2p.org/?ref=p2p.org" rel="noopener">P2P.org</a>.</p><h2 id="how-to-claim-your-allocation">How to Claim Your Allocation</h2><p><br>1) <strong>To check your eligibility and claim your share, please visit: </strong><a href="https://app.p2p.org/claim?ref=p2p.org" rel="noopener"><strong>https://app.p2p.org/claim</strong></a></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/11/image--13-.png" class="kg-image" alt loading="lazy" width="1118" height="864" srcset="https://p2p.org/economy/content/images/size/w600/2024/11/image--13-.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/11/image--13-.png 1000w, https://p2p.org/economy/content/images/2024/11/image--13-.png 1118w" sizes="(min-width: 720px) 720px"></figure><p>2) <strong>Connect your Wallet:</strong> you have several options to do so:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/11/image--16-.png" class="kg-image" alt loading="lazy" width="1230" height="1212" srcset="https://p2p.org/economy/content/images/size/w600/2024/11/image--16-.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/11/image--16-.png 1000w, https://p2p.org/economy/content/images/2024/11/image--16-.png 1230w" sizes="(min-width: 720px) 720px"></figure><p>3) After your eligibility is checked and the rewards are calculated you need to <strong>Accept the "Terms of Use" and click "Claim Rewards" </strong>button:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/11/image--15-.png" class="kg-image" alt loading="lazy" width="1140" height="1124" srcset="https://p2p.org/economy/content/images/size/w600/2024/11/image--15-.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/11/image--15-.png 1000w, https://p2p.org/economy/content/images/2024/11/image--15-.png 1140w" sizes="(min-width: 720px) 720px"></figure><p>4) <strong>Congratulations!</strong> You have successfully claimed. We're looking forward to see your post on X tagging @p2pvalidator if you'd like to share the good news with your network! 💙</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/11/image--17-.png" class="kg-image" alt loading="lazy" width="1250" height="1446" srcset="https://p2p.org/economy/content/images/size/w600/2024/11/image--17-.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/11/image--17-.png 1000w, https://p2p.org/economy/content/images/2024/11/image--17-.png 1250w" sizes="(min-width: 720px) 720px"></figure><h2 id="our-commitment-to-you">Our Commitment to You</h2><p>At P2P.org, we believe in building a community where everyone benefits from our collective success. This allocation share program and our ongoing initiatives are a testament to our dedication to you, our community.</p><p>Thank you for your continued support.</p><hr><p><em>Stay connected with us on </em><a href="https://twitter.com/p2pvalidator?ref=p2p.org" rel="noopener"><em>Twitter</em></a><em> and join the conversation on </em><a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noreferrer"><em>Telegram</em></a><em>.</em></p>
from p2p validator
<p><a href="p2p.org" rel="noreferrer">P2P.org</a> is excited to bring its restaking expertise to the Solana ecosystem and participate as a launch partner for <a href="https://www.jito.network/restaking/?ref=p2p.org" rel="noreferrer">Jito (Re)Staking</a>.</p><blockquote class="kg-blockquote-alt">Jito (Re)staking unlocks economic security and promotes capital efficiency for staked SOL, bringing additional use cases and new opportunities. </blockquote><p>We are thrilled to expand its restaking footprint and support this abstraction in the Solana ecosystem. We believe in restaking growth potential and are excited to collaborate with an exceptional team like Jito!</p><p></p><h2 id="to-learn-more-about-jito-restaking-check-out-the-faq-below-%F0%9F%91%87">To learn more about Jito (Re)staking check out the FAQ below 👇 </h2><p></p><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">How is P2P.org Participating?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">As early innovators in the retaking space, P2P.org is excited to collaborate with Jito to unlock new features within the Solana ecosystem. We aim to give our loyal users the option to choose from Solana restaking solutions while providing economic security to participating NCNs.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What are Node Consensus Operators (NCNs)?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">NCNs are decentralized networks that leverage staked assets to secure and validate various on-chain activities. NCNs are most similar to ‘AVS’ in </span><a href="https://www.eigenlayer.xyz/?ref=p2p.org" rel="noreferrer"><span style="white-space: pre-wrap;">EigenLayer</span></a><span style="white-space: pre-wrap;"> (Ethereum restaking). Examples of NCNs integrating Jito Restaking on Solana include:</span></p><ul><li value="1"><b><strong style="white-space: pre-wrap;">Squads</strong></b><span style="white-space: pre-wrap;">: Integrating Jito Restaking with its Policy Network to enhance secure and flexible transaction policies for smart accounts.</span></li><li value="2"><b><strong style="white-space: pre-wrap;">Switchboard</strong></b><span style="white-space: pre-wrap;">: Utilizing Jito's staking and slashing parameters to improve the security and performance of DeFi oracle services.</span></li><li value="3"><b><strong style="white-space: pre-wrap;">Sonic</strong></b><span style="white-space: pre-wrap;">: Strengthening its HyperGrid infrastructure for enhanced validator security and cross-SVM interoperability.</span></li><li value="4"><b><strong style="white-space: pre-wrap;">Twilight</strong></b><span style="white-space: pre-wrap;">: Reinforcing its bandwidth infrastructure’s decentralization and validator security.</span></li><li value="5"><b><strong style="white-space: pre-wrap;">TipRouter</strong></b><span style="white-space: pre-wrap;">: Decentralizing MEV tip distribution with a model that allocates 3% of tips to the Jito DAO treasury.</span></li><li value="6"><b><strong style="white-space: pre-wrap;">Leaf Protocol</strong></b><span style="white-space: pre-wrap;">: Leveraging Jito Restaking to secure scalable DeFi applications across multi-network ecosystems.</span></li></ul><p><span style="white-space: pre-wrap;">These partnerships showcase the potential of Jito Restaking to enhance decentralized network functionality, security, and transparency on Solana.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What are Vault Receipt Tokens (VRTs)?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">VRTs are liquid representations of assets deposited into Jito restaking vaults that earn rewards over time.</span></p><p><span style="white-space: pre-wrap;">VRTs are most similar to ‘LRT’ in Ethereum restaking.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What are Node Operators?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Entities that run and maintain the infrastructure necessary to support NCNs (like </span><a href="P2P.org" rel="noreferrer"><span style="white-space: pre-wrap;">P2P.org</span></a><span style="white-space: pre-wrap;">!)</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">What is Jito (Re)staking?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">A multi-asset staking protocol for Node Consensus Networks (NCNs) on Solana. The protocol tokenizes staked assets as Vault Receipt Tokens (VRTs) for enhanced liquidity and composability. VRTs are most similar to LRTs in Ethereum restaking.</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">Benefits of Participation?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><ol><li value="1"><span style="white-space: pre-wrap;">Supports staked SOL and SPL tokens</span></li><li value="2"><span style="white-space: pre-wrap;">Customizable staking parameters, slashing conditions, and economic incentives</span></li><li value="3"><span style="white-space: pre-wrap;">When VRTs tokenize staked assets (receipt tokens), they can be used throughout the Solana DeFi ecosystem to earn additional rewards.</span></li><li value="4"><span style="white-space: pre-wrap;">It enables users to participate in securing multiple networks simultaneously, therefore making it more capital-efficient while earning higher rewards.</span></li></ol></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">When does Global Restaking Cap 1 begin?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">🗓️ 10/30/2024</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">Wen Mainnet?</strong></b><span style="white-space: pre-wrap;"> 🧐</span></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">Tentatively scheduled for early December, 2024</span></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">Who are the VRTs that I can restake with?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><ol><li value="1"><span style="white-space: pre-wrap;">Kyros</span></li><li value="2"><span style="white-space: pre-wrap;">Fragmetric</span></li><li value="3"><span style="white-space: pre-wrap;">Renzo</span></li></ol><p><span style="white-space: pre-wrap;">You can find more information here: </span><br><span style="white-space: pre-wrap;">🔗 </span><a href="https://www.jito.network/restaking/start/?ref=p2p.org"><u><span class="underline" style="white-space: pre-wrap;">https://www.jito.network/restaking/start/</span></u></a></p></div> </div><div class="kg-card kg-toggle-card" data-kg-toggle-state="close"> <div class="kg-toggle-heading"> <h4 class="kg-toggle-heading-text"><b><strong style="white-space: pre-wrap;">Which tokens can I restake today to participate in the restaking cap?</strong></b></h4> <button class="kg-toggle-card-icon" aria-label="Expand toggle to read content"> <svg id="Regular" xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"> <path class="cls-1" d="M23.25,7.311,12.53,18.03a.749.749,0,0,1-1.06,0L.75,7.311"/> </svg> </button> </div> <div class="kg-toggle-content"><p><span style="white-space: pre-wrap;">The top restaked assets are:</span><br><br><b><strong style="white-space: pre-wrap;">SOL,</strong></b><br><b><strong style="white-space: pre-wrap;">JitoSOL,</strong></b><br><b><strong style="white-space: pre-wrap;">mSOL</strong></b></p><p><span style="white-space: pre-wrap;">💡 Note: the types of acceptable assets for restaking vary depending on the VRT platform</span></p></div> </div><p></p><h2 id="about-us">About Us:</h2><p><a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> has been a reliable validator in the Solana ecosystem since day one. <strong>We maximize staking rewards through High Node Performance and Jito MEV support.</strong> Also, backing innovative projects like <a href="https://wormhole.com/?ref=p2p.org" rel="noreferrer">Wormhole</a>, <a href="https://www.pyth.network/?ref=p2p.org" rel="noreferrer">Pyth</a>, and <a href="https://neonevm.org/?ref=p2p.org" rel="noreferrer">Neon</a>, <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> strengthens the network’s infrastructure while delivering additional opportunities for stakers.<br><br><em>You can learn more about our involvement on our </em><a href="https://www.jito.network/restaking/node-operators/P2P/?ref=p2p.org" rel="noopener noreferrer"><em>dedicated page</em></a><em>.</em></p><p>We've prepared this comprehensive FAQ to answer all your questions about Jito Restaking. We encourage you to read it to gain deeper insights into how restaking works and benefits the Solana ecosystem.</p><p>But in case you still have some questions:</p><hr><p><strong>Contact Us</strong></p><p>We are always open to communication. Do not hesitate to ask questions in our Telegram chat. For any questions or support, please contact our team at <a rel="noopener">[email protected]</a>.</p><p>We encourage you to check our website and start our staking journey together!</p><ul><li><strong>Web</strong>: <a href="https://p2p.org/?ref=p2p.org" rel="noopener">https://p2p.org</a></li><li><strong>Blog</strong>: <a href="https://p2p.org/economy?ref=p2p.org" rel="noopener">https://p2p.org/economy</a></li><li><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator?ref=p2p.org" rel="noopener">@p2pvalidator</a></li><li><strong>Telegram</strong>: <a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noopener">https://t.me/P2Pstaking</a></li><li><strong>Jito Restaking with P2P.org:</strong> <a href="https://www.jito.network/restaking/node-operators/P2P/?ref=p2p.org">https://www.jito.network/restaking/node-operators/P2P/?ref=p2p.org</a></li></ul>
from p2p validator
<p></p><h2 id="introduction"><strong>Introduction</strong></h2><p></p><p>At P2P.org, we’re all about sharing success with the people who make it possible - you, our valued delegators. As the leading operator in the EigenLayer ecosystem, we’re excited to announce that as part of <strong>EigenLayer Airdrop Season 2 </strong>Operator’s Allocation Share, we’re distributing <strong>828.08 ETH</strong> (approximately $2.196 million at current prices) to eligible participants. This represents the largest operator allocation share in the community, and it’s our way of expressing our gratitude for your trust and loyalty.<br></p><p><strong>Our Commitment to You</strong></p><p></p><p>We view our delegators as equal partners in our journey. Your support has made us the number one operator, and we want to ensure you reap the benefits of our collective success. Sharing a significant portion of our operator rewards reinforces our commitment and sets new industry standards.</p><p><strong>Setting Industry Standards</strong> </p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">P2P.org is committed to transparency and fairness. Our decision to distribute a significant portion of our operator rewards distinguishes us from the rest. <b><strong style="white-space: pre-wrap;">We aim to demonstrate that staking directly with us is not just a service — it’s a partnership.</strong></b></div></div><p></p><h2 id="how-to-check-your-allocation"><strong>How to Check Your Allocation</strong></h2><p></p><p>Are you curious about the rewards you’re eligible for? Follow these simple steps to check your allocation:</p><p></p><p>Visit our Allocation Checker at <a href="https://app.p2p.org/claim?ref=p2p.org">https://app.p2p.org/claim</a> to access the checker. <em>Please verify that you’re interacting with the P2P.org domain!</em></p><ol><li>Insert your wallet address to check your eligibility and personalized rewards. You don’t need to connect your wallet.</li><li>Check if you are eligible to participate in our Operator's Allocation Share initiative and see the amount you’re eligible for. View your rewards and read the FAQ section to learn more about eligibility criteria and allocation details.</li></ol><p> </p><p></p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">Please note that users receiving more than $10,000 will need to complete a KYC process in accordance with regulatory requirements.</div></div><p></p><p><strong>Claim details</strong></p><p>The claim date will be announced soon, it will be open approximately in two weeks, as soon as the smart contract is audited and ready. <a href="https://x.com/P2Pvalidator?ref=p2p.org" rel="noreferrer">@P2Pvalidator</a> is only an <a href="https://x.com/P2Pvalidator?ref=p2p.org" rel="noreferrer">official X account</a>. Be sure to follow us to avoid scammers and stay updated:<br><a href="https://x.com/P2Pvalidator?ref=p2p.org">https://x.com/P2Pvalidator</a></p><p><br></p><h2 id="why-delegate-to-p2porg"><strong>Why Delegate to P2P.org</strong></h2><p></p><p>Choosing P2P.org as your (re)staking partner comes with numerous advantages:</p><p></p><ul><li>Stake in Ethereum and Opt-in P2P.org operator in EigenLayer to get industry-leading validator technology and support.</li><li>Support for All Major AVSs: We support all major Actively Validated Services (AVSs), providing you with diverse staking opportunities.</li></ul><p></p><p><strong>How We’ve Worked to Benefit the Community</strong></p><p>Over the past year, we’ve been super busy making remarkable contributions to the community, and we wanted to share what we’ve been up to! We were the first to introduce an all-AVS strategy, which helped develop and test the ecosystem. Thanks to our support and contributions, many AVSs have improved, giving you a better experience. We’re now proud to support 21 AVSs on the mainnet.</p><p>But that’s just the tip of the iceberg. We’ve open-sourced great automation tools to help other operators —you can check them out <a href="https://x.com/P2Pvalidator/status/1802978066504753425?ref=p2p.org"><u>here</u></a>. We’ve also published a ton of helpful resources like our <a href="https://p2p.org/economy/restaking-risk-surface/"><u>risk framework research</u></a>, the “<a href="https://p2p.org/economy/know-your-avs/"><u>Knowing Your AVS”</u></a> series, and multiple restaking guides to make your staking journey smoother. </p><p>On top of that, we’ve created some super popular and useful dashboards for the ecosystem, like the<a href="https://dune.com/p2p_org/eigenlayer-airdrops?ref=p2p.org"> <u>EigenLayer Airdrops Dashboard</u></a> and the<a href="https://dune.com/p2p_org/eigenlayer-rewards?ref=p2p.org"> <u>EigenLayer Rewards Dashboard</u></a>, so you can stay informed and keep track of everything easily.</p><p>These efforts show how committed we are to supporting the ecosystem and you, our amazing community members.</p><p><br></p><p><strong>Looking Ahead</strong></p><p></p><p>We are committed to maintaining and expanding our contribution to the community and ecosystem by building solutions that address the challenges of restaking for our delegators. With your continued support, we will focus on developing tools like an AVS framework to help you better navigate AVS choices, creating rewards management tools for easier claiming, conducting slashing research to mitigate the risks and enhancing performance with anti-jail features.<strong> </strong>We look forward to achieving new milestones together and invite you to stay engaged with P2P.org for exciting opportunities.</p><p></p><p><strong>Stay Connected</strong></p><p></p><p>Don’t miss out on updates and opportunities:</p><p></p><ul><li>Check out our #1 restaking infrastructure in <a href="https://app.eigenlayer.xyz/operator/0xdbed88d83176316fc46797b43adee927dc2ff2f5?ref=p2p.org"><u>EigenLayer</u></a>, <a href="https://app.mellow.finance/vaults?ref=p2p.org"><u>Symbiotic</u></a>, and <a href="https://btcstaking.babylonlabs.io/?ref=p2p.org"><u>Babylon</u></a> </li><li>Follow us on <a href="https://x.com/P2Pvalidator?ref=p2p.org" rel="noreferrer">Twitter</a>: Stay informed about the latest news and announcements by following our <a href="https://x.com/P2Pvalidator?ref=p2p.org" rel="noreferrer">Twitter account</a>.</li><li>Join our <a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noreferrer">Telegram Community</a>: Connect with fellow stakers and get real-time support by joining <a href="https://t.me/P2Pstaking?ref=p2p.org">our Telegram group</a>.</li><li>Subscribe to Our <a href="https://www.subscribepage.com/economy-blog-subscribers?ref=p2p.org" rel="noreferrer">Newsletter</a>: Receive curated content and insights directly to your inbox. Subscribe <a href="https://www.subscribepage.com/economy-blog-subscribers?ref=p2p.org" rel="noreferrer">here</a>.</li></ul><p></p><p><strong>Conclusion</strong><br>Thank you for being a part of the P2P.org community. Your trust and support drive us to set higher standards and deliver greater value. We’re excited about the future and look forward to achieving new milestones together.</p><p></p><p><strong>Disclaimer</strong>: Participation is subject to terms and conditions. Rewards distribution is conducted in compliance with all applicable laws and regulations. This communication is for informational purposes only and does not constitute investment advice.</p><h2 id="contact-us">Contact Us:</h2><p><em>Do not hesitate to ask questions in our </em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em>Telegram chat</em></a><em> <br>We are always open for communication.</em><br><br>For any questions or support, please get in touch with our team at [email protected].<br><br>We encourage you to check our website and start our staking journey together!</p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/ethereum?ref=p2p.org" class="kg-btn kg-btn-accent">Stake with us!</a></div><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a><br><strong>Blog:</strong> <a href="https://p2p.org/economy/">https://p2p.org/economy</a><br><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p><strong>EigenLayer Programmatic Incentives</strong> are now live!</p><p></p><p>To reward users in the EigenLayer ecosystem, the EigenLayer team has distributed <strong>$EIGEN</strong> rewards to stakers and operators for their active participation in supporting AVSs.</p><p></p><p><strong>Programmatic Incentives v1</strong> will enable weekly programmatic rewards of $EIGEN tokens to stakers and operators. For v1, the incentives have been retroactive <strong>based on staking status since August 15th, 2024, and are now available for claim.</strong></p><p></p><p>EigenLayer has pledged to distribute 4% of the $EIGEN token supply (~66,945,866 EIGEN) in the first year of this program to ensure that incentives are aligned.</p><p></p><p>Weekly programmatic rewards are live to claim every Tuesday at 19:00 UTC. It is important to also be aware that there is a one-week buffer for reward eligibility and claiming and that gas fees for claiming are paid in ETH.</p><p></p><p>To learn more about what to expect with Programmatic Incentives, check out P2P's Dune dashboard, which shares vital information like ETH APR estimation for restakers and EIGEN APR estimation.</p><p></p><p><a href="https://dune.com/p2p_org/eigenlayer-rewards?ref=p2p.org"><u>EigenLayer Rewards Dashboard</u></a></p><p>Also, it is the first time such a dashboard has been shared with the community. Consider sharing it with your network:</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">📢 On 15th October, <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw&ref=p2p.org">@eigenlayer</a> is launching Programmatic Incentives v1 to reward stakers and operators actively supporting AVSs in the Eigen Layer ecosystem.<br><br>So, as Operator No. 1, we're FIRST to bring the tool that helps you make informed decisions! (See: Link in comments 🔗) <a href="https://t.co/7oA3XWWegR?ref=p2p.org">https://t.co/7oA3XWWegR</a> <a href="https://t.co/jAl6aWglpR?ref=p2p.org">pic.twitter.com/jAl6aWglpR</a></p>— P2P.org (@P2Pvalidator) <a href="https://twitter.com/P2Pvalidator/status/1845144466199544113?ref_src=twsrc%5Etfw&ref=p2p.org">October 12, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p>Let's get back to our guide.</p><h2 id="steps-for-claiming-eigenlayer-rewards-%F0%9F%91%87"><strong>Steps for Claiming EigenLayer Rewards 👇</strong></h2><p></p><p><strong>Step 1:</strong> Visit <a href="https://www.eigenlayer.xyz/?ref=p2p.org"><u>https://app.eigenlayer.xyz/</u></a></p><p></p><p><strong>Step 2:</strong> Click 'Connect Wallet' at the top right corner and select the wallet linked to your EigenLayer holdings.</p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYX11PbDcV0oGFHJDqyBySHFDlh6QD4E_1lmDJBRdgMdYzzIkHVSlic6f74JOTAcwhjwFWKKNFZ1eN2v1lqGF3sVqf9ByR0dAryDpwRLeVVm9BvqZM3qxzBrTduPuxfyYg2mR9Ty5YDV5XYP8Q5CTXuhk?key=_d-jGKhAufYUsocju-mjoQ" class="kg-image" alt loading="lazy" width="1600" height="888"></figure><p></p><p><strong>Step 3: </strong>Once your wallet is successfully connected, your rewards will show as 'Claimable Rewards', and you can select 'Claim Rewards' to initiate the claim process.</p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeqCz1m08gVK8srSIOxPGPku2mseU87_lCVdOFEoaM_wKAhPIRgyPl-l7E3UjyYGxmWTu5Zzz2BolLXr6yKvTr9JjLgNpjBDSNigTeeQOEGIcmbELrfzUIDMxWO39SYQEsKf7nMb4Q5a8LXcoisALOFNlQM?key=_d-jGKhAufYUsocju-mjoQ" class="kg-image" alt loading="lazy" width="1600" height="667"></figure><p><br></p><p><strong>Step 4: </strong>After selecting 'Claim Rewards,' you can view the token rewards you are eligible for (multi-select is available). Once you choose the rewards you want to claim, select 'Claim Tokens.'</p><p><br></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXclvhaASkjrZ3o1NPLpy3piPp2J6ylPwEdovnxSTwqewl3bfEwjUOu6c4gNSrdot-7kpRqSaVLzxrCDEfrJmFOwk__ZcCfTn4VNYukAftjcR_ly8xhL6CrJElC0Nvd-iOQYLClkR_v_Yzi8U7gjVkd4JwU?key=_d-jGKhAufYUsocju-mjoQ" class="kg-image" alt loading="lazy" width="1600" height="666"></figure><p><br></p><p><strong>Step 5: </strong>The claim process is triggered, and you will sign the transaction in your wallet to complete the rewards claiming process. Once the claim is fulfilled, select 'Done'.</p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeVV7ABqh_UBnyPK7IvgnxuarpXYumWmxjKGYo8w8WEjl_DdVQqA4ujnUpnY6FaQN0CzJHNf12QU1X3yw-r_Z4qDGmrhYuuMKwHSibmXqDBv4ARSMaCxEjYi9ISyuW2KcL281RqyPhCmcYqGmBVPCvxjimg?key=_d-jGKhAufYUsocju-mjoQ" class="kg-image" alt loading="lazy" width="1118" height="1219"></figure><p><br>---</p><h2 id="contact-us">Contact Us:</h2><p><em>Do not hesitate to ask questions in our </em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em>Telegram chat</em></a><em> <br>We are always open for communication.</em><br><br>We encourage you to check our website and start our staking journey together!</p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/ethereum?ref=p2p.org" class="kg-btn kg-btn-accent">Stake with us!</a></div><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a><br><strong>Blog:</strong> <a href="https://p2p.org/economy/">https://p2p.org/economy</a><br><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>Babylon Staking Cap2 opens on <strong>8 October 2024 around 8 PM UTC</strong>. <strong>Staking runs from block 864790 to 864799 and will last about 1 hour and 40 minutes</strong>, with a limit of 0.005 - 500 BTC per transaction. P2P.org is excited about the next Cap, which is why we’ve prepared a guide to help you stake BTC with P2P.org using the official P2P Bitcoin Staking dApp.</p><p></p><p>In this guide, we’ll explain the exact steps you need to take to stake your BTC with our dApp.</p><p></p><h2 id="step-1-p2p-btc-staking-dapp-website">Step 1. P2P BTC Staking dApp website </h2><p>If you want to stake your BTC, you need to visit our BTC dApp, where you can stake your BTC in a non-custodial manner.</p><p></p><p><a href="https://btc.p2p.org/?ref=p2p.org"><u>https://btc.p2p.org/</u></a></p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdGnSeCSjeaRzrNIuBn7E709nVpCcsrjk54ItZQjVO7AHufWfwnresvBS1umOim47zS8lgeA6vhSlzU_VZ8YreVsUjn95CqmKO9AegAr333sN-yVahHf0XSWzBGlcX6L1YOAjhGhL7vVXGr6CLFsaZO574?key=hmfb9ucDuqQusR279SFocg" class="kg-image" alt loading="lazy" width="1600" height="845"></figure><p><br></p><h2 id="step-2-connect-your-btc-wallet">Step 2. Connect your BTC wallet:</h2><p>Currently, our BTC dApp supports Bitcoin wallets such as OKX, Bitget and Tomo. </p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcANURkqHAIkgzrUQVNisBNx1_aAL7quGEXw-9Yl5bd_3wPTgqu-E4rXUawc_ykMB2-712X-Jig0YjZhBLR4NmCq80JWfq6swH-YGlmlNXwFTE4BZGwcjfXqhIxnq7oxDfZn8zMFMCGgRdg7acqd_448ZR1?key=hmfb9ucDuqQusR279SFocg" class="kg-image" alt loading="lazy" width="1600" height="939"></figure><p></p><p><strong>💡 It’s important to note that you should comply with one of Babylon’s requirements and avoid connecting wallets with Bitcoin inscriptions</strong>.</p><p></p><h2 id="step-3-enter-the-amount-of-btc-you-want-to-stake-and-sign-the-transaction">Step 3. Enter the amount of BTC you want to stake and sign the transaction.</h2><p></p><p>The amount of BTC you can stake in Cap 2 ranges from 0.005 to 500 BTC per transaction. Keep in mind that when making a staking transaction, you will need to pay a fee for the Bitcoin network.</p><p><br></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfqO2WYPeqYmHu2PsIuZre0GjeQvuowoHjHpoj5ctnZ3DcyuA4aqy3D00qA7sZxERI3VICvtWh2w-E_HItwJr_lQ74ABkCsjQHlf1SX4B1hd0AXkVFtRBXUhKdCvGidNHXlgCAOlKNUlhaKHCHGFqLieojq?key=hmfb9ucDuqQusR279SFocg" class="kg-image" alt loading="lazy" width="1600" height="872"></figure><p></p><p>After successfully signing the transaction, you can see the transaction details and a link to the block explorer, where you can find additional information about it.</p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcw0IZv64_DWdYsbVoSpmNlNNBBaESsFN967zpZsyQ96HzSBUxWxBRrXDw6NnwzL94-bXewQrljMM29e_QJ4p90eh2CYIIFEishBrS_70aQLhyBB5Iel4ldrP6X4KnV4heYkHmRXC5K_FLsbkbRhd_43hX1?key=hmfb9ucDuqQusR279SFocg" class="kg-image" alt loading="lazy" width="1600" height="998"></figure><h2 id="how-to-unstake-your-btc">How to unstake your BTC</h2><p>You can unstake your BTC using the same application. Please note that you can only unstake each transaction one by one. To do that, you need to open the Overview and follow three steps:</p><p></p><p>Find the transaction you want to unbond</p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXePlpwdNXYUZJqoBFfFhnHfjb7-3iUqngVzM5At658Erc3pY0BBGrk_JARPZJ_gdYC5fY5Lmh27LEDNqDFvln8khejt4HI48-ak663njKhXOQy7vSOZASn_CpL1woU_gF1BI-KzToBx6e92yxE9UQn5mUfo?key=hmfb9ucDuqQusR279SFocg" class="kg-image" alt loading="lazy" width="1600" height="924"></figure><p></p><ol><li>Sign an unbonding transaction, which will unstake your BTC after the 7-day period (1008 Bitcoin blocks).</li><li>After waiting 7-days, you can finally withdraw your BTC<br><br></li></ol><p>If you do not unstake your BTC, the stake will automatically be unstaked after 65 weeks (64,000 Bitcoin blocks).</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Babylon Chain activities since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alik via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p><p></p>
from p2p validator
<p>Babylon Staking Cap2 opens on 8 October 2024. <strong>Staking runs from block 864790 to 864799 and will last about 1 hour and 40 minutes</strong>, with a limit of 0.005 - 500 BTC per transaction. P2P.org is excited about the next Cap, so we’ve prepared a guide to help you stake BTC with P2P.org using the Babylon Bitcoin Staking Protocol.</p><p></p><p>This guide will discuss how to stake BTC on Babylon’s official dashboard.</p><p></p><h2 id="step-1-visit-the-official-babylon-staking-dashboard">Step 1. Visit the official Babylon Staking Dashboard </h2><p>If you want to stake your BTC, you need to visit Babylon’s official staking dashboard, where you can do so non-custodially.</p><p></p><p><a href="https://btcstaking.babylonlabs.io/?ref=p2p.org"><u>https://btcstaking.babylonlabs.io</u></a> </p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXesXdAAfrLoW2Js6ESyX75LK4bFXRg2dk5bQ2HCb4JwEwDxNi-pSFjO8_FWaGiy_vANwo1poz-GZo-bXp6EjdarDPdEDuObPzD-7zSDDgEbwQXBdiOeaa7oxHKLVgUDOHV_b9sxS9PHBa49g7qk7O7bKRw?key=i_-cA8z_n_5DgrJrcVpUQA" class="kg-image" alt loading="lazy" width="1600" height="869"></figure><p></p><h2 id="step-2-connect-your-btc-wallet">Step 2. Connect your BTC wallet:</h2><p></p><p>Babylon’s official dApp currently supports Bitcoin wallets such as OKX, <strong>OneKey, Bitget, Tomo, and Keystone wallet via QR code</strong></p><p><br></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdJjJWfwD-gcEWu4_4kO9jWNbCsSGaueMl3pXJ-NWY55Nun-ka6q48KltTKPho04QoiZfFHL-tt6WqtCDq0StjTXMkAe-nrH_IlFI6i_U0olEbpqVfgPHHJomch1wuZsW1W8ZdQgmMwrr8B-CfOHil9dCY?key=i_-cA8z_n_5DgrJrcVpUQA" class="kg-image" alt loading="lazy" width="1600" height="986"></figure><p>It’s important to note that you should comply with two of Babylon’s requirements:</p><ol><li>Do not connect wallets with Bitcoin inscriptions within</li><li>Do not connect any hardware wallets except Keystone.</li></ol><p></p><h2 id="step-3-choose-p2p-as-your-finality-provider">Step 3. Choose P2P as your Finality Provider.</h2><p>We’ll be your security provider, ensuring the safety of your stake.</p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcMnpEqqDAoHeE0WUeJqHB6uP1IvWsQk6BOkQJkSZckmlzdFCniZdSoQ3XyDA-H9vqWxV2w6mgdJD9LPYjqwZ7-nYM7Q-PsNaonzLPPNSZ8yAjzLSoZnQ7uiDcvxwAZkxmqGtzL5PzMPOkrGClgqk-fq6a-?key=i_-cA8z_n_5DgrJrcVpUQA" class="kg-image" alt loading="lazy" width="1600" height="952"></figure><p></p><h2 id="step-4-enter-the-amount-of-btc-you-want-to-stake-and-sign-the-transaction">Step 4. Enter the amount of BTC you want to stake and sign the transaction.</h2><p></p><p>The amount of BTC you can stake in Cap 2 ranges from 0.005 to 500 BTC per transaction. Remember that you must pay a fee for the Bitcoin network when making a staking transaction.</p><p></p><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfoP4NPrBnFUuRNEArlmv4Hb6m7N8wXx_dVqFJMso7K3FXF6pO8_3gAlrca5gQqF5LMzb_vsEbSgVcp0MHb9uvcwtdpZcOssiANI-7Ulv7QuToBCBkNhRT9nCkS-c5mLHhRHBeXoU9RBZ-duJZ_FyY73TGv?key=i_-cA8z_n_5DgrJrcVpUQA" class="kg-image" alt loading="lazy" width="1600" height="857"></figure><p></p><h2 id="how-to-unstake-your-btc">How to unstake your BTC</h2><p>You can unstake your BTC using the same application. To do that, you need to sign two transactions:</p><p></p><ol><li>Sign an unbonding transaction, which will unstake your BTC after the 7-day period (1008 Bitcoin blocks).</li><li>Sign a withdrawal transaction to unlock your BTC finally.</li></ol><p></p><p>If you do not unstake your BTC, the stake will automatically be unstaked after 65 weeks (64,000 Bitcoin blocks).</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Babylon Chain activities since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alik via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>At <a href="http://p2p.org/?ref=p2p.org">P2P.org</a>, we take blockchain security seriously.</p><h2 id="executive-summary"><strong>Executive Summary:</strong></h2><p>Blockchain security is a top priority for validators, especially with the expansion of Polkadot's active validator set. Validators are vital in securing the network by participating in block production and finalization processes. However, <strong>some validators bypass GRANDPA participation to reduce operational costs, jeopardizing network stability and security</strong>.</p><p>Active block production and finalization participation are crucial for maintaining Polkadot and Kusama's network integrity. <strong>Validators who avoid GRANDPA undermine network performance, potentially leading to slower finalization and reduced reliability. To mitigate these risks, token holders should carefully evaluate validators based on their commitment to security, uptime, risk management, and compliance with industry standards.</strong></p><p><a href="http://p2p.org/?ref=p2p.org">P2P.org</a> offers tools like the Relay Participation Rate dashboard to monitor validator engagement, helping stakeholders make informed decisions. By delegating stakes to validators prioritizing network health and security, token holders can contribute to a more resilient and trustworthy blockchain ecosystem.</p><h2 id="understanding-blockchain-security">Understanding Blockchain Security</h2><p>With the recent referendum aiming to expand the active validator set to 400, the focus has intensified on the critical role validators play in securing the Polkadot network—especially through their participation in finalizing blocks. Validator engagement in the consensus process is essential for maintaining the integrity of the ecosystem, and upholding high operational standards has never been more crucial.</p><p>In Polkadot, block production begins with the Blind Assignment for Blockchain Extension (BABE) protocol. BABE randomly assigns validators to produce blocks in slots approximately every six seconds. Validators participate in this random lottery for each slot, producing a block if selected. Notably, a backup validator is also assigned in case the primary validator fails to produce a block.</p><p>Once a block is created, it needs to be finalized by other network participants—precisely, the validators—through the GRANDPA (GHOST-based Recursive ANcestor Deriving Prefix Agreement) finality gadget. GRANDPA operates in parallel with block production as an independent process. Validators engage in consecutive rounds of voting to finalize blocks, and once two-thirds of the validators have voted in favor, the block is considered final.</p><p>While validators cannot influence the BABE step due to its randomness, they are incentivized to participate in block production because they receive rewards for creating blocks. However, the same incentive structure does not apply to GRANDPA participation. <strong>This lack of direct monetary reward can tempt some validators to disable their participation in GRANDPA by running their nodes with the <code>--no-grandpa</code> flag</strong>, potentially reducing operational costs at the expense of network security.</p><h2 id="why-validator-participation-in-grandpa-matters">Why Validator Participation in GRANDPA Matters</h2><p>Skipping finalization might lower operational expenses—such as bandwidth consumption and node maintenance—but it introduces significant risks to the network. Without robust participation in GRANDPA, the network may experience delays in finalizing blocks, adversely affecting performance and reliability. The ecosystem's security is intrinsically linked to the consistency and reliability of validators in the finalization process.</p><p>Moreover, validators who avoid participating in GRANDPA place additional burdens on those who maintain high operational standards. These standards are often achieved through rigorous internal monitoring, adherence to compliance frameworks, and dedicated infrastructure management. Validators committed to these practices ensure consistent uptime and mitigate risks such as slashing, thereby contributing to a more secure and resilient network.</p><h2 id="the-current-state-of-participation">The Current State of Participation</h2><p>Our public dashboard, <a href="https://grafana.polkamon.p2p.world/d/XX_I3QQSk/relay-participation-rate?orgId=1&var-chain=polkadot&var-account=All&var-percent=30&ref=p2p.org">Relay Participation Rate</a> (accessible via Telegram authentication), offers an overview of validator participation in the finalization process across Polkadot and Kusama. This tool is part of our <a href="https://maas.p2p.org/?ref=p2p.org">Monitoring as a Service</a> (MaaS) project, designed to provide validator operators in Substrate-based networks with transparency and monitoring capabilities. To access the dashboard, login with your Telegram account, navigate to the "General" section in the upper left-hand corner, and select "Relay Participation Rate."</p><p>The dashboard features three types of charts:</p><ol><li><strong>Prevotes Ratio</strong>: Indicates participation in the first part of the consensus process.</li><li><strong>Precommits Ratio</strong>: This ratio relates to GRANDPA (chain finality) and represents how often a validator participates in finality, the second part of the consensus.</li><li><strong>Missing Backing Votes Ratio</strong>: Shows the percentage of skipped candidate backing actions (Proof of Validity) for parachains—the most profitable aspect of a validator's activity.</li></ol><p>The top table provides a current snapshot of validators and their participation ratios in the consensus process. While the Polkadot network currently shows no validators with 0% precommits (finality stage), several validators exhibit low engagement. This could signal infrastructure issues or deliberate decisions to minimize costs at the expense of network security.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/09/Screenshot-202024-09-11-20at-2016.12.33.png" class="kg-image" alt loading="lazy" width="1844" height="532" srcset="https://p2p.org/economy/content/images/size/w600/2024/09/Screenshot-202024-09-11-20at-2016.12.33.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/09/Screenshot-202024-09-11-20at-2016.12.33.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/09/Screenshot-202024-09-11-20at-2016.12.33.png 1600w, https://p2p.org/economy/content/images/2024/09/Screenshot-202024-09-11-20at-2016.12.33.png 1844w" sizes="(min-width: 720px) 720px"></figure><p>On Kusama, the situation is more concerning. As of September 11, 20 validators displayed 0% participation in both prevotes and precommits, raising questions about their reliability and commitment to network security. Such inconsistent participation—whether due to inadequate infrastructure or intentional non-participation—can undermine the overall stability of the ecosystem.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/09/Screenshot-202024-09-11-20at-2016.34.40.png" class="kg-image" alt loading="lazy" width="2000" height="316" srcset="https://p2p.org/economy/content/images/size/w600/2024/09/Screenshot-202024-09-11-20at-2016.34.40.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/09/Screenshot-202024-09-11-20at-2016.34.40.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/09/Screenshot-202024-09-11-20at-2016.34.40.png 1600w, https://p2p.org/economy/content/images/2024/09/Screenshot-202024-09-11-20at-2016.34.40.png 2000w" sizes="(min-width: 720px) 720px"></figure><h2 id="the-risks-of-non-participation">The Risks of Non-Participation</h2><p>A decline in validator participation poses a risk of slower finalization times, which can have cascading effects on both the Polkadot and Kusama ecosystems. Maintaining at least two-thirds participation is essential for the network's smooth functioning. If a significant number of validators continue to prioritize cost-cutting over participation in finalization, the network's reputation and its ability to attract further development may be jeopardized.</p><p>It's important to note that GRANDPA's non-participation is neither financially rewarding nor subject to slashing penalties. This lack of immediate consequences provides little motivation for validators to engage in the finalization process, highlighting the need for token holders to be vigilant in their choice of validators.</p><h2 id="how-to-choose-reliable-validators">How to Choose Reliable Validators</h2><p>Given these potential risks, it's imperative for token holders to thoroughly evaluate validators before delegating their stakes. Key factors to consider include:</p><ul><li><strong>Commitment to Network Security</strong>: Does the validator consistently participate in both block production and finalization processes?</li><li><strong>Uptime Track Record</strong>: Does the validator maintain high availability, ensuring the network remains robust and responsive?</li><li><strong>Risk Mitigation Measures</strong>: Does the validator implement safeguards against slashing and other operational risks?</li><li><strong>Compliance with Industry Standards</strong>: Has the validator undergone third-party audits, such as SOC 2, to verify their adherence to security and operational protocols?</li><li><strong>Infrastructure Quality</strong>: Does the validator invest in reliable, secure infrastructure to support their operations?</li></ul><p>Delegating to validators prioritizing network health through consistent participation and reliability strengthens the Polkadot and Kusama ecosystems. Validators that uphold high-performance standards and implement comprehensive security measures—such as internal compliance audits, uptime guarantees, and slashing protection—offer a more robust and secure environment for stakers.</p><p><strong>By choosing validators committed to the network's long-term health and security, token holders can contribute to a more resilient and trustworthy blockchain ecosystem.</strong></p><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alex via <a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong> <a href="https://p2p.org/networks/polkadot?ref=p2p.org">https://p2p.org/networks/polkadot</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>At P2P Validator, we've always supported the Polkadot network, offering top-notch validation services. Our tools help nominators manage their staking easily and stay informed about their returns. We're proud to contribute to the Polkadot ecosystem, including our <a href="https://maas.p2p.org/?ref=p2p.org">Monitoring as a Service</a>, which allows validator operators to track performance metrics and maintain high service standards.</p><p>As Polkadot grows, so do the challenges of maintaining it. We're revising our commission rates to keep delivering the reliable and high-quality service you expect.</p><p><strong>Upcoming Commission Rates from October 10, 2024:</strong></p><ul><li><strong>Polkadot (DOT)</strong>: Our commission will be adjusted to <strong>5%</strong></li></ul><p>This adjustment allows us to continue improving our services and contributing to the development of the Polkadot network.</p><p>We understand that fee changes can be concerning, but <strong>this decision is necessary to ensure the continued quality and sustainability of our operations.</strong></p><p><strong>What's next for P2P Validator?</strong> The road ahead is filled with promise and challenges alike. With your unwavering support and our combined efforts, we are confident we can accelerate the growth and capabilities of both networks.</p><p>Thank you to all our nominators for your continuous backing and trust. Together, we'll forge ahead toward a brighter, more decentralized future!</p><p>For a deeper dive into what we offer for Polkadot holders, please visit <a href="https://p2p.org/networks/polkadot?ref=p2p.org">https://p2p.org/networks/polkadot</a>.</p><p>Do you have questions or thoughts? Our <a href="https://t.me/P2Pstaking?ref=p2p.org"><strong>Telegram chat</strong></a> is always open for conversations. We prioritize open communication and look forward to hearing from you.</p>
from p2p validator
<p><strong>Welcome to our bi-weekly market recap at P2P.org, where we delve into the most impactful shifts happening in the crypto space.</strong> This edition explores the ever-evolving staking landscape, the Ethereum ecosystem, and Bitcoin’s latest staking developments. </p><p>Let’s dive into the highlights!</p><h3 id="ethereum-steady-validator-growth-amid-market-uncertainty"><strong>Ethereum: Steady Validator Growth Amid Market Uncertainty</strong></h3><p>Ethereum is holding steady! Over the past month, we saw a 1.49% growth in the total number of validators and staked amounts (source: <a href="http://beaconcha.in/?ref=p2p.org"><u>Beaconchain</u></a>). While this growth is consistent with previous months, it’s clear that price volatility and reduced validator rewards have slowed down the pace compared to earlier in the year. But hey, steady growth is still growth!</p><p>This isn’t surprising, considering the broader market’s recent behavior. In the last 14 days, <strong>the total market cap dropped from $2.3T to $2.03T</strong> (source: <a href="https://www.coingecko.com/?ref=p2p.org"><u>CoinGecko</u></a>). A dip like this often spooks the market, with concerns of a potential recession and uncertainty around the upcoming US elections driving institutional caution. High-risk assets like crypto felt the impact as investors hit the sell button.</p><p>Check out the chart below for a visual of Ethereum validator trends over time:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/09/6536.jpg" class="kg-image" alt loading="lazy" width="2000" height="908" srcset="https://p2p.org/economy/content/images/size/w600/2024/09/6536.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/09/6536.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/09/6536.jpg 1600w, https://p2p.org/economy/content/images/2024/09/6536.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><h3 id="eigenlayer-and-restaking-airdrops-and-big-collaborations"><br><strong>EigenLayer and Restaking: Airdrops and Big Collaborations</strong></h3><p>Despite the shaky market, the <strong>past few weeks have been exciting for the</strong> <strong>Ethereum staking ecosystem</strong>. The main focus? Restaking. <strong>EigenLayer (EL)</strong> has announced a fresh round of $EIGEN airdrops to the community, distributing 86 million tokens, representing 5% of the total 1.67 billion $EIGEN supply. Even social media users can qualify for the airdrop—a move that shows EL’s commitment to rewarding the community that’s helping bolster its brand.</p><p>Original Eigen Foundation tweet: <a href="https://x.com/eigenfoundation/status/1831375846097219707?ref=p2p.org">https://x.com/eigenfoundation/status/1831375846097219707</a></p><p>In other big news, EigenLayer is partnering with <strong>Ethena and EtherFi</strong>, bringing the stablecoin <strong>USDe</strong> into the picture as a new restaking collateral asset. The <strong>adoption of ERC-20 tokens as collateral</strong> under the Symbiotic restaking protocol is a key differentiator, opening up the possibility for a much broader range of assets to be supported in the future. This move highlights Symbiotic’s innovative approach and maybe a strategic response to its growing competition. EigenLayer's recent partnership with EtherFi could be seen as a defensive move against Symbiotic, which is already positioning itself ahead with the ability to use ERC-20 tokens as staking collateral—something that EigenLayer currently does not offer.</p><h3 id="bitcoin-staking-babylon%E2%80%99s-success-and-fierce-competition"><strong>Bitcoin Staking: Babylon’s Success and Fierce Competition</strong></h3><p>Things are heating up on the <strong>Bitcoin staking</strong> front<strong>,</strong> too. Babylon’s first-ever staking launch at the end of August was a huge success—<strong>1,000 BTC</strong> was deposited in just four hours! With multiple large reserve tokens (LRTs) attracting a ton of BTC for the next round of staking, this momentum doesn’t seem to be slowing down.</p><p>However, competition in the Bitcoin space is fierce, with protocols vying for attention and deposits. <strong>Lombard</strong> recently announced the ability to re-stake LBTC with <strong>Ether.fi</strong>, strengthening its position as a leading LRT in the Bitcoin ecosystem.</p><h3 id="closing-thoughts-the-road-ahead-for-crypto"><strong>Closing Thoughts: The Road Ahead for Crypto</strong></h3><p>August and September are historically bumpy months for crypto and the stock market, and this year has been no exception. Price discovery is a natural process, and while volatility can feel unsettling, it also presents opportunities for growth in the long run. With exciting developments like <strong>EigenLayer’s restaking advancements</strong> and <strong>Bitcoin staking’s rapid expansion</strong>, we’re optimistic about what’s to come.</p><p>Stay tuned for our following market recap, where we’ll continue exploring the trends shaping the future of crypto!<br></p><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, with $7B from over 10,000 delegators/nominators across different high-class networks. Developing the SaaB (Staking-as-a-business) model, we help networks, exchanges, custodians, and institutions build their staking products and create new revenue streams.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alessandro via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Read about SaaB:</strong> <a href="https://x.com/P2Pvalidator/status/1778388967940902972?ref=p2p.org">https://x.com/P2Pvalidator/status/1778388967940902972</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p><p></p><p><br></p>
from p2p validator
<p>23rd July 2024 marked the exciting launch of Avail DA, who state they are <strong>the first modular data availability layer using validity proofs and data availability sampling.</strong> This innovation enables entire blockchain networks to scale efficiently and cost-effectively.<br><br>We have been working closely with Avail during all the testnet phases and we are excited to support it since day one.</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">We know some of you are looking forward to the <a href="https://twitter.com/AvailProject?ref_src=twsrc%5Etfw&ref=p2p.org">@AvailProject</a> launch.<br><br>For those who want to know what's Avail:<br>We got you! 🫡<br><br>Listen to <a href="https://twitter.com/anuragarjun?ref_src=twsrc%5Etfw&ref=p2p.org">@anuragarjun</a>, the <a href="https://twitter.com/AvailProject?ref_src=twsrc%5Etfw&ref=p2p.org">@AvailProject</a> co-founder, answering this question for us: <a href="https://t.co/N14ooH88NW?ref=p2p.org">pic.twitter.com/N14ooH88NW</a></p>— P2P.org (@P2Pvalidator) <a href="https://twitter.com/P2Pvalidator/status/1814232362412060943?ref_src=twsrc%5Etfw&ref=p2p.org">July 19, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p><br><br><strong>The AVAIL Token</strong> Powers the network by allowing users to pay fees, stake for security, and participate in governance.</p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/networks/avail?ref=p2p.org" class="kg-btn kg-btn-accent">Stake your AVAIL!</a></div><p><br><br>The Avail DA supports L2 solutions, RaaS providers, and blockchain developers by providing a robust, validity-proof-based DA layer optimized for ZK technology. This significantly reduces operational costs and enhances scalability for developers building on Avail DA.</p><h2 id="about-avail">About Avail:</h2><p>Since late 2020, founders <a href="https://x.com/anuragarjun?ref=p2p.org" rel="noreferrer">Anurag Arjun</a> and <a href="https://x.com/prabalbanerjee?ref=p2p.org" rel="noreferrer">Prabal Banerjee</a> have been dedicated to creating trust-minimized systems. <a href="http://availproject.org/?ref=p2p.org" rel="noreferrer">Avail</a> has secured investments from notable entities like Peter Thiel’s Founders Fund, Dragonfly, and the Cyber.fund.<br>The project has partnered with industry leaders such as Arbitrum, Optimism, and Polygon, fostering a robust ecosystem.</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">We’ve been working closely with 110+ partners including <a href="https://twitter.com/arbitrum?ref_src=twsrc%5Etfw&ref=p2p.org">@arbitrum</a>, <a href="https://twitter.com/Optimism?ref_src=twsrc%5Etfw&ref=p2p.org">@Optimism</a>, <a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw&ref=p2p.org">@0xpolygon</a>, <a href="https://twitter.com/StarkWareLtd?ref_src=twsrc%5Etfw&ref=p2p.org">@StarkWareLtd</a>, and <a href="https://twitter.com/zksync?ref_src=twsrc%5Etfw&ref=p2p.org">@zksync</a> prior to launch, with many more on the way. <a href="https://t.co/QrVA1d2ect?ref=p2p.org">pic.twitter.com/QrVA1d2ect</a></p>— Avail (@AvailProject) <a href="https://twitter.com/AvailProject/status/1815660858162270253?ref_src=twsrc%5Etfw&ref=p2p.org">July 23, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p><br>Read their blog post for an in-depth understanding of Avail’s vision for a unified Web3 <a href="https://blog.availproject.org/avail-da-mainnet-is-live/?ref=p2p.org">blog post</a>, or go to the comprehensive developer documentation available <a href="https://docs.availproject.org/?ref=p2p.org">here</a>.</p><h2 id="validator-network">Validator Network</h2><p>The Avail network can support up to 1000 validators using an NPoS consensus mechanism, ensuring equitable reward distribution and enhanced decentralization. The rollout will start with a genesis set of validators.</p><p><strong>P2P.org is proud to support Avail as a genesis validator and participate in all the testnet activities. That ensures we are the leaders, supported by strong technical expertise</strong>. We work closely with Avail Project on X: <a href="https://x.com/AvailProject?ref=p2p.org">https://x.com/AvailProject</a>, providing our audience with insightful pieces of information from its founder:</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Are you ready for an exciting launch tomorrow? AVAIL is about to change the game with its MODULARITY, promising to solve the blockchain fragmentation problem!<br><br>Let’s hear from <a href="https://twitter.com/anuragarjun?ref_src=twsrc%5Etfw&ref=p2p.org">@anuragarjun</a>, co-founder of <a href="https://twitter.com/AvailProject?ref_src=twsrc%5Etfw&ref=p2p.org">@AvailProject</a>, who explains how AVAIL improves the user experience. <a href="https://t.co/JT3iQgmdnL?ref=p2p.org">pic.twitter.com/JT3iQgmdnL</a></p>— P2P.org (@P2Pvalidator) <a href="https://twitter.com/P2Pvalidator/status/1815305760831615006?ref_src=twsrc%5Etfw&ref=p2p.org">July 22, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p><br></p><p>During high demand for the Avail Goldberg Testnet, P2P.org demonstrated its commitment and capability by actively supporting Avail. We participated in the light nodes challenge and were one of only three external providers of RPC nodes.</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text"> P2P.org successfully handled more than 30,000 simultaneous connections and processed over 100 million requests.</div></div><p><br>This strategic support played a vital role in ensuring the stability of the Avail Goldberg Testnet during a crucial phase of its operations.</p><p>Our team's efforts included deploying a proxy balancer that efficiently managed the load between several nodes:</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">We significantly enhanced the network's capacity to handle over 300 million requests and maintain peak connectivity for 37,000 concurrent connections.</div></div><p><br>This technological prowess demonstrates P2P.org’s capability in managing high-demand blockchain operations and shows our expertise in providing advanced infrastructure solutions.<br></p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/networks/avail?ref=p2p.org" class="kg-btn kg-btn-accent">Stake your AVAIL with P2P.org</a></div><h2 id="web3-unification"><br><br><strong>Web3 Unification</strong></h2><p>Avail DA aims to be the cornerstone of a permissionless unification layer for Web3. This layer will facilitate cross-chain transactions through Avail Nexus and provide comprehensive shared security via Avail Fusion, paving the way for a unified future for decentralized applications.</p><p>Developers are encouraged to build on Avail DA using Ethereum’s top rollup stacks or explore beyond the EVM. </p><p><a href="https://p2p.org/networks/avail?ref=p2p.org" rel="noreferrer"><strong>Discover more about the Avail project and start staking your AVAIL tokens today.</strong></a></p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alex via <a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake AVAIL with us:</strong> <a href="https://p2p.org/networks/avail?ref=p2p.org">https://p2p.org/networks/avail</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>This guide provides step-by-step instructions on setting up an account in the Avail network and staking AVAIL tokens using your account.</p><h3 id="understanding-ss58-format"><strong>Understanding SS58 Format:</strong></h3><ul><li><strong>What is SS58?</strong> SS58 is an address format Avail uses based on the Substrate framework that supports various blockchain solutions.</li><li><strong>Features</strong>: This format helps create shorter, more recognizable addresses. It includes a network-specific prefix, which adds a layer of security and helps in network identification.</li><li><strong>Security</strong>: Always ensure that the SS58 address matches the network you are interacting with to avoid cross-network errors or vulnerabilities.</li></ul><h3 id="creating-an-account">Creating an account</h3><p>To create an account, choose a trusted SS58-compatible wallet like <a href="https://www.subwallet.app/?ref=p2p.org">SubWallet</a> or <a href="https://www.talisman.xyz/?ref=p2p.org">Talisman</a> or use the Polkadot JS browser <a href="https://polkadot.js.org/extension/?ref=p2p.org">extension</a>.</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">🔐</div><div class="kg-callout-text"><b><strong style="white-space: pre-wrap;">Security tips:</strong></b> After creating your account, securely store your seed phrase. Please write it down on paper and store it in a secure location, such as a safe. Do not store it digitally to avoid the risk of digital theft.</div></div><h3 id="connect-account-to-avail-js-portal">Connect account to Avail JS portal</h3><p>Visit the <a href="hootsuit.com is an automated social media management tool that allows us to schedule and share content, monitor what people say about our brand and track performance. We also need it for consistent and periodical reporting." rel="noreferrer">Avail JS</a> portal using a Chrome browser. Upon connecting, your wallet will request authorization. Navigate to the 'Accounts' tab to view your account balance and details.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.51.18.png" class="kg-image" alt="Screenshot 2024-04-16 at 12.32.44.png" loading="lazy" width="2000" height="695" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.51.18.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.51.18.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.51.18.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.51.18.png 2000w" sizes="(min-width: 720px) 720px"></figure><p>The account should appear on the screen. This account will be your stash. You can have as many accounts as you like.</p><p>We will continue with a single account, but if there are multiple ones, the following creation process should be repeated for each one.</p><h3 id="bond-the-amount-of-avail-you-wish-to-stake">Bond the amount of AVAIL you wish to stake</h3><ol><li>Navigate to <em>Network -> Staking</em> and select the <em>Account</em> tab.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.51.29.png" class="kg-image" alt loading="lazy" width="2000" height="400" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.51.29.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.51.29.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.51.29.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.51.29.png 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><ol start="2"><li>Choose the amount of AVAIL to bond for staking. Ensure that a minimum balance of 1 AVAIL is unbonded to cover transaction fees. Select your preferred method for receiving staking rewards: Stash account (increase the amount at stake); Stash account (do not increase the amount at stake); Specified payment account (send rewards to any 3rd party account).</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.53.47.png" class="kg-image" alt loading="lazy" width="2000" height="849" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.53.47.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.53.47.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.53.47.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.53.47.png 2130w" sizes="(min-width: 720px) 720px"></figure><p><strong>We make payouts daily, so you won't need to pay a TX fee by yourself.</strong></p><p>We recommend assigning a staking proxy account. You should fund a separate account with 2-3 AVAIL and connect with your primary one to perform staking-related operations on behalf of your stash, like triggering payout or nominating a validator. A staking proxy has no access to the funds on the stash account.</p><ol start="3"><li>In the next window, select up to 16 validators with which you wish to stake. If you want to nominate P2P.org, search <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.ORG</a> and select our validators from the list. We highly recommend selecting more than 1 validator to increase your chances of being eligible for rewards.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.14.png" class="kg-image" alt loading="lazy" width="2000" height="878" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.54.14.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.54.14.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.54.14.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.14.png 2146w" sizes="(min-width: 720px) 720px"></figure><ol start="4"><li>Chosen validators will appear in the right column. Press Bond & <em>Nominate </em>to continue<em>.</em></li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.19.png" class="kg-image" alt loading="lazy" width="2000" height="887" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.54.19.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.54.19.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.54.19.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.19.png 2134w" sizes="(min-width: 720px) 720px"></figure><ol start="5"><li>Sign the transaction</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.29.png" class="kg-image" alt loading="lazy" width="2000" height="870" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.54.29.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.54.29.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.54.29.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.54.29.png 2148w" sizes="(min-width: 720px) 720px"></figure><ol start="6"><li>Your screen should be updated, and current nominations should appear in the <em>Account </em>tab. From here, you can manage your staking in the future.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2018.02.09.png" class="kg-image" alt loading="lazy" width="2000" height="182" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2018.02.09.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2018.02.09.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2018.02.09.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2018.02.09.png 2000w" sizes="(min-width: 720px) 720px"></figure><p>Staking will begin in the next era or two (24 - 48 hours). You will be able to track nominations from <em>Staking -> Account. </em>At least one nomination should become active, indicating that your stake is working in full and generating rewards.</p><p></p><h2 id="unbonding-funds">Unbonding funds</h2><ol><li>To start unbonding your funds, you must first express your desire to stop nominating. To stop the nomination, go to Network -> Staking, navigate to Account the tab, and select Stop.</li></ol><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">This only stops your nominations but does not unbond your funds. After you sign the TX, you need to continue with unbonding. </div></div><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2018.03.15.png" class="kg-image" alt loading="lazy" width="2000" height="165" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2018.03.15.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2018.03.15.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2018.03.15.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2018.03.15.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="2"><li>To start unbonding, tap on three dots, select <em>Unbodning funds</em>,<em> </em>and select how much you want to unbound after signing the tx. </li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.55.14.png" class="kg-image" alt loading="lazy" width="2000" height="662" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Screenshot-202024-07-24-20at-2017.55.14.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Screenshot-202024-07-24-20at-2017.55.14.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Screenshot-202024-07-24-20at-2017.55.14.png 1600w, https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.55.14.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="3"><li>After signing the unbonding transaction, you will see the timer for your unbonding period. In Avail, it's 28 days. After that, your funds will be free and available to withdraw.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Screenshot-202024-07-24-20at-2017.56.26.png" class="kg-image" alt loading="lazy" width="546" height="274"></figure><p>For more information about Avail staking, please refer to <a href="https://docs.availproject.org/docs/end-user-guide?ref=p2p.org" rel="noreferrer">the official documents</a>. </p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Polkadot/Kusama network since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alex via <a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong> <a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p><a href="P2P.org" rel="noreferrer">P2P.org</a> is proud to announce the launch of our innovative <a href="http://ssv.network/?ref=p2p.org" rel="noreferrer">SSV</a> <strong>White-Label Node solution</strong> in partnership with <a href="http://originprotocol.com/?ref=p2p.org" rel="noreferrer">Origin</a>.<br><br>This new product marks a significant milestone in our commitment to providing state-of-the-art decentralized validation technology (DVT) solutions to our clients. By focusing on efficiency and a customer-centric approach to their customization, we are delivering a solution that not only simplifies the staking process but also meets the unique needs for each of our unique and diverse clients. </p><h2 id="about-origin"><strong>About Origin</strong></h2><p>Origin Protocol is a longstanding Ethereum DeFi project focused on creating economic opportunities through permissionless multichain protocols. Their suite of products, including Origin Ether (OETH) and Origin Dollar (OUSD), are designed to enhance yield generation. These products integrate seamlessly across the DeFi ecosystem, allowing users to earn and compound returns on-chain.</p><p>Origin Protocol’s ecosystem is underpinned by the Origin Token (OGN), which serves as the governance and value-accrual token. Users can stake OGN to receive xOGN, gaining a share of the protocol’s revenue and voting rights in the governance process. The team behind Origin comprises experienced entrepreneurs and professionals from major tech firms, backed by prominent investors like Pantera Capital and Foundation Capital.</p><h2 id="introducing-the-ssv-white-label-node-solution"><strong>Introducing the SSV White-Label Node Solution</strong></h2><p>Our SSV White-Label Node solution allows clients to register validators on exclusive SSV private nodes dedicated solely to their use. This new offering brings several key advantages:</p><ul><li><strong>Customization: </strong>Clients can tailor their nodes based on specific requirements, such as geographical location and the choice of Consensus Layer (CL) and Execution Layer (EL) to run. </li><li><strong>Ease of Operation: </strong>With private nodes, we can significantly reduce the amount of $SSV required to run an SSV cluster. Public nodes typically require 6.5 $SSV per year. However, with our private nodes, we can set the operator fee to 0, so users only need to pay around 0.5 $SSV per year in network fees.</li><li><strong>Automation via DVT API:</strong> Our solution automates the entire SSV registration and validator deposit process through our DVT API, eliminating manual steps and streamlining operations. You can also learn more about our API integration from our <a href="https://docs.p2p.org/docs/getting-started-ssv?ref=p2p.org">integration guide</a>.</li></ul><h2 id="partnership-with-origin"><strong>Partnership with Origin</strong></h2><p>We have partnered with Origin to deploy this new solution, demonstrating the powerful capabilities of our SSV White-Label Node. We have set up eight dedicated SSV nodes for Origin, four of which have already reached their maximum capacity of 500 validators each. </p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/image--1-.png" class="kg-image" alt loading="lazy" width="1078" height="586" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/image--1-.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/image--1-.png 1000w, https://p2p.org/economy/content/images/2024/07/image--1-.png 1078w" sizes="(min-width: 720px) 720px"></figure><p><strong>This means that Origin has staked nearly 24,000 ETH using our new solution.</strong> Additionally, four more nodes are ready to be filled, with more ETH to be staked.</p><p>One of the key benefits Origin is experiencing with our solution is a drastic reduction in operational costs from the amount of $SSV tokens required up-front. For example, maintaining 146 days of operational runway requires only 105 SSV ($3,666) with our solution. Without it, achieving the same coverage would necessitate 1366.17 SSV ($47,788). This represents a significant saving in efforts from buying large amounts of SSV tokens upfront to register so many validators.</p><h2 id="looking-ahead"><strong>Looking Ahead</strong></h2><p>The launch of the SSV White-Label Node solution represents a major advancement in decentralized staking technology. This partnership with Origin is just the beginning. As we continue to develop and refine our solutions, we look forward to offering even more innovative and cost-effective options to our clients.</p><p>Stay connected with P2P.org for more updates and developments in the decentralized validation technology space. For more information, visit our website or join our official community Telegram channel.</p><p>Together, we are pushing the boundaries of decentralized finance, creating a more secure and efficient future for the Ethereum ecosystem.</p><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, with $7B from over 10,000 delegators/nominators across different high-class networks. Developing the SaaB (Staking-as-a-business) model, we help networks, exchanges, custodians, and institutions build their staking products and create new revenue streams.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alessandro via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Read about SaaB:</strong> <a href="https://x.com/P2Pvalidator/status/1778388967940902972?ref=p2p.org">https://x.com/P2Pvalidator/status/1778388967940902972</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p><em>Staking GRT (Graph Tokens) is a fantastic way to participate in the growth of The Graph network while earning rewards. Whether you're new to cryptocurrency or a seasoned investor, this guide will walk you through the process of delegating your GRT tokens step-by-step.</em></p><h2 id="what-is-the-graph"><strong>What is The Graph?</strong></h2><p><strong>The Graph is a decentralized protocol for indexing and querying data from blockchains.</strong> It allows developers to build and query decentralized applications (dApps) quickly and efficiently. The Graph network relies on a decentralized community of indexers, curators, and delegators to operate.</p><h2 id="why-delegate-grt-tokens"><strong>Why Delegate GRT Tokens?</strong></h2><p>As a GRT token holder, <strong>you can delegate your tokens to indexers and earn a portion of the rewards they generate.</strong></p><p>Delegating GRT tokens helps secure the network and ensures its efficient operation. In return, you receive a share of the rewards earned by the indexers. It's a way to earn passive income from your GRT holdings without needing to run your own node or perform technical operations.</p><h2 id="step-by-step-guide-to-delegate-grt-tokens"><strong>Step-by-Step Guide to Delegate GRT Tokens</strong></h2><p>To help you get started, we've prepared a comprehensive video tutorial that walks you through each step of the delegation process. Watch the video below for a visual guide, and then follow the detailed instructions provided in this article.</p> <!--kg-card-begin: html--> <style> .responsive-video { position: relative; padding-bottom: 56.25%; /* 16:9 aspect ratio */ height: 0; overflow: hidden; max-width: 100%; height: auto; } .responsive-video iframe { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } </style> <div class="responsive-video"> <iframe src="https://www.youtube.com/embed/ptG6xCCizCY" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> </div> <!--kg-card-end: html--> <p></p><h3 id="step-1-connect-your-wallet"><strong>Step 1: Connect Your Wallet</strong></h3><p><strong>Connect Your Wallet</strong>: Click on the "Connect Wallet" button. Select your wallet type (MetaMask, WalletConnect, or Ledger) and follow the prompts to connect your wallet to the site.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled.png" class="kg-image" alt="Untitled" loading="lazy" width="2000" height="539" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Go to The Graph’s Website</strong>: Visit the official Graph Network website (<a href="https://thegraph.com/explorer?ref=p2p.org">https://thegraph.com/explorer</a>).</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-2.png" class="kg-image" alt="Untitled" loading="lazy" width="2000" height="996" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-2.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-2.png 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><h3 id="step-2-choose-one-of-the-p2p-indexer"><strong>Step 2: Choose One of The P2P Indexer</strong></h3><p><strong>Locate Our Indexer</strong>: P2P has two active indexers, you can either search <code>p2p</code> within the indexers or visit one below:</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-text">* p2p-org-booster.eth - <a href="https://thegraph.com/explorer/profile/0xf00f7157fa8fd0420b87956d46058a16b2f23adc?view=Indexing&chain=arbitrum-one&ref=p2p.org" rel="noopener noreferrer">0xf00f7157fa8fd0420b87956d46058a16b2f23adc</a><br><br>* p2p-org-arbitrum.eth - <a href="https://thegraph.com/explorer/profile/0x2f09092aacd80196fc984908c5a9a7ab3ee4f1ce?view=Indexing&chain=arbitrum-one&ref=p2p.org" rel="noopener noreferrer">0x2f09092aacd80196fc984908c5a9a7ab3ee4f1ce</a></div></div><p></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-3.png" class="kg-image" alt loading="lazy" width="2000" height="736" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-3.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-3.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Review Our Metrics</strong>: Check the performance metrics and reward rates associated with our indexer. Our commitment to excellence ensures competitive rewards and reliable service.</p><p><strong>Select Our Indexer</strong>: Click on our indexer’s profile to see more details and proceed with delegation.</p><p></p><h3 id="step-3-delegate-your-grt-tokens"><strong>Step 3: Delegate Your GRT Tokens</strong></h3><p><strong>Initiate Delegation:</strong> On our indexer’s profile, click the “Delegate” button.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-4.png" class="kg-image" alt loading="lazy" width="2000" height="1642" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-4.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-4.png 2000w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">You will be required to pay 0.5% GRT deposit tax.</div></div><p></p><p><strong>Enter Amount:</strong> Specify the amount of GRT tokens you want to delegate. Make sure you leave some GRT in your wallet to cover potential transaction fees. You will be required to pay 0.5% GRT deposit tax.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-5.png" class="kg-image" alt loading="lazy" width="2000" height="1732" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-5.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-5.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-5.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-5.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Approve Transaction</strong>: Approve the transaction in your wallet. This step allows the staking contract to access your GRT tokens.</p><p><strong>Confirm Delegation</strong>: After the approval, confirm the delegation transaction. Pay the necessary gas fees to complete the process.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-6.png" class="kg-image" alt loading="lazy" width="2000" height="1402" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-6.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-6.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-6.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-6.png 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><h3 id="step-4-monitor-your-delegation"><strong>Step 4: Monitor Your Delegation</strong></h3><p><strong>Track Performance</strong>: You can monitor the performance of your delegation on the staking dashboard. It will show you the rewards you’ve earned and other relevant metrics.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-7.png" class="kg-image" alt loading="lazy" width="2000" height="2033" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-7.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-7.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-7.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-7.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Un-delegate</strong>: If you wish to un-delegate your tokens, you can do so from the dashboard. Note that un-delegating may have a 28-days cooldown period before your tokens become available again.</p><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">Rewards are automatically added to staked deposit and paid when the indexer closes allocation. <b><strong style="white-space: pre-wrap;">There is no slashing for delegators on The Graph.</strong></b> The Graph GRT unbonding period lasts 28 days.</div></div><p></p><h2 id="tips-for-successful-delegation"><strong>Tips for Successful Delegation</strong></h2><p><strong>Stay Informed</strong>: Keep up with news and updates from The Graph network to make informed decisions about your delegations.</p><p><strong>Be Patient</strong>: Staking and delegating are long-term strategies. Give your investments time to grow.</p><p>By following this guide and choosing P2P indexer, you'll be well on your way to successfully delegating your GRT tokens and participating in The Graph network. Enjoy earning rewards while contributing to the future of decentralized applications!</p><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. </p><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><br>Our team is here via our official Telegram channel if you have any questions or support. </p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p><strong>Babylon is a Bitcoin Staking Protocol that allows Bitcoin holders to stake their BTC, providing security for different PoS systems. </strong>As a result, BTC holders can gain rewards on their capital in the tokens of PoS systems they support. On the other hand, different blockchains or DA layers that decide to integrate with Babylon can use it to secure their networks with Bitcoin, the world’s most valuable crypto asset.<br><br>To understand it better, please read our previous article on BTC staking with Babylon:</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/what-is-bitcoin-staking/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">What is Bitcoin Staking?</div><div class="kg-bookmark-description">Introducing Babylon 1. The Problem Bitcoin is the most prominent and valuable cryptocurrency in the world. However, it lacks mechanisms for holders to earn passive income, similar to PoS networks such as Ethereum, leading to millions of idle Bitcoins. The evolving blockchain landscape, especially Proof-of-Stake chains, demands consistent security and</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Kamil Jakub Natil</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/BTC-20staking-202.jpg" alt></div></a></figure><p><br>In previous blog posts, we discussed Bitcoin Staking and how Babylon provides non-custodial staking of BTC:</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/understanding-non-custodial-staking-on-the-babylon/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Understanding Non-Custodial Staking on the Babylon</div><div class="kg-bookmark-description">What is Babylon? Babylon is a revolutionary staking protocol that allows Bitcoin holders to provide their BTC assets to secure PoS systems and receive a yield on their assets. The idea of BTC staking is relatively new and needs further explanation. When discussing BTC staking, many people associate it with</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Kamil Jakub Natil</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/Babylon.jpg" alt></div></a></figure><p><br>Today, we will look at Babylon from another angle, show how Babylon is achieving universality on a scale, and show how significant Babylon's impact can become on the blockchain industry and different PoS systems because of its flexible architecture.</p><h3 id="babylons-key-components">Babylon's key components</h3><p>As we discussed, <strong>Babylon leverages BTC to provide shared security, making it a reliable source of security for various PoS systems</strong>. But how does it achieve this?</p><p>Babylon introduces the role of Finality Providers, who receive delegations of BTC from Bitcoin holders. Finality Providers are additional validators that can participate in the block validation process. The largest blockchain validators, including P2P.org, will be Finality Providers in Babylon.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/pos-1.jpg" class="kg-image" alt loading="lazy" width="2000" height="1159" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/pos-1.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/pos-1.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/pos-1.jpg 1600w, https://p2p.org/economy/content/images/2024/06/pos-1.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><p>After receiving the BTC delegation, Finality Providers can participate in the block verification process. If they act maliciously, for example, by double signing, the portion of Bitcoins delegated by stakers can be slashed. Slashing can be technically achieved because of the EOTS signature that Finality Providers use to validate blocks. When Finality Providers double sign, their private key is leaked, which allows the broadcast of a pre-approved slashing transaction that was created when the user staked the tokens.<br></p><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-text">Babylon’s design is elegant and flexible. It adds additional finality rounds to blockchains operated by Finality Providers. This means that PoS systems, which have their own consensus mechanisms and validators, can add an extra level of verification supported by a set of Finality Providers who provide BTC as a slashable asset.</div></div><p><br>This set of Finality Providers can improve security and make the blockchain more decentralized. Decentralization is crucial for any blockchain to be secure and sustainable, but not all blockchains boast about it. Additionally, finding and maintaining a stack of validators is a resource-intensive process.</p><p><strong>Babylon acts as a shared security marketplace that brings together Finality Providers, who offer shared security, and PoS systems, which receive it in exchange for rewards.</strong></p><h3 id="cosmos-as-a-first-stop">Cosmos as a First Stop</h3><p>Babylon plans to focus on the Cosmos SDK blockchains and the Babylon PoS chain itself as the first PoS systems. Like other chains built on CometBFT, the Babylon PoS chain will have a set of validators that validate blocks and broadcast them to other nodes. Validators in Cosmos use the native tokens of these chains as security collateral. If they act maliciously, the portion delegated tokens can be slashed.</p><p>However, when integrated with Babylon, Cosmos SDK chains add an additional finality round that provides extra security through Finality Providers. As shown in the diagram, these Finality Providers become an additional step in the block path, creating a more secure block verification process.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/a3.jpg" class="kg-image" alt loading="lazy" width="2000" height="1159" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/a3.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/a3.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/a3.jpg 1600w, https://p2p.org/economy/content/images/2024/06/a3.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><p>If Cosmos SDK chains decide to work with Babylon and receive additional security, they must reward Finality Providers to attract them. This creates a marketplace where Finality Providers offer security, and blockchains reward them.<br></p><h3 id="other-ecosystems-are-welcomed">Other Ecosystems Are Welcomed</h3><p>One of the most exciting aspects of Babylon's plan is its focus on PoS systems outside of the Cosmos ecosystem. From Babylon's announcements, we know that Babylon plans to integrate its Bitcoin Staking Protocol to provide shared security to Bitcoin L2s, AltLayer rollups, standalone chains, and more.</p><p>The reality is that the additional round of finality after the protocol has finalized a block can be added to different consensus protocols, not just CometBFT. Babylon's general approach can open the doors to providing security for various blockchain ecosystems and allow Babylon to build a shared security marketplace, where PoS systems from different ecosystems can interact with finality providers and receive security from them.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/a2.jpg" class="kg-image" alt loading="lazy" width="2000" height="2000" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/a2.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/a2.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/a2.jpg 1600w, https://p2p.org/economy/content/images/2024/06/a2.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p>When speaking about Babylon, we should always keep in mind that Babylon's impact can be much more significant than we think right now. This is achieved through its architecture and the vast amount of BTC collateral that can be used. In the long run, this shared security model can lead to a more secure and resilient blockchain environment. As more PoS systems join the Babylon, the collective security and stability of the entire ecosystem improve. <br></p><h2 id="how-to-participate">How to Participate?</h2><p>If you're interested in participating in the launch of Babylon, we recommend two main directions for involvement:</p><ol><li><strong>Testnet Participation:</strong><br>Engage with the Babylon testnet by staking your SignetBTC directly on Babylon's <a href="https://btcstaking.testnet.babylonchain.io/?ref=p2p.org"><u>official website</u></a>. This allows you to familiarize yourself with the platform's features and functionalities without risking real assets.</li><li><strong>Support for Large Bitcoin Holders:</strong><br>If you hold significant Bitcoin, <strong>don't hesitate to contact our team</strong>. We can provide tailored validator solutions that will be optimal for you when the mainnet launches. (<a href="mailto:[email protected]" rel="noreferrer">Person of contact</a>)</li></ol><div class="kg-card kg-button-card kg-align-center"><a href="mailto:[email protected]" class="kg-btn kg-btn-accent">Email Us!</a></div><p><br><br>The Babylon Testnet-4 has already been launched, and the mainnet launch is anticipated by the end of the first half of the year. This new testnet focuses on the security of staked Bitcoins by testing user interactions with the BTC Signet test network. The Babylon team is actively monitoring updates and feedback from the community to ensure the network's </p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Babylon Chain activities since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alik via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>In line with our commitment to deliver the best staking opportunities, <strong>we will no longer support the following networks from July 17, 2024</strong>:<br></p><ul><li>Evmos ($EVMOS, <a href="https://twitter.com/EvmosOrg?ref=p2p.org" rel="noreferrer">@EvmosOrg</a>)</li><li>Persistence ($XPRT, <a href="https://twitter.com/PersistenceOne?ref=p2p.org" rel="noreferrer">@PersistenceOne</a>)</li><li>Archway ($ARCH, <a href="https://twitter.com/archwayHQ?ref=p2p.org" rel="noreferrer">@archwayHQ</a>)</li><li>KYVE ($KYVE, <a href="https://twitter.com/KYVENetwork?ref=p2p.org" rel="noreferrer">@KYVENetwork</a>)</li><li>Mars Hub ($MARS, <a href="https://twitter.com/mars_protocol?ref=p2p.org" rel="noreferrer">@mars_protocol</a>)</li><li>Marlin ($POND, <a href="https://x.com/MarlinProtocol?ref=p2p.org" rel="noopener noreferrer">@MarlinProtocol</a>)</li></ul><p><br><a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> remains dedicated to supporting other decentralized networks by providing our users with premium validator services and next-level support. <br><br><strong>Action Required for Token Holders:</strong><br>For those who have stakes in these networks through <a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> or any other means, here's what you need to know:</p><ul><li><strong>Redelegation</strong>: This action is usually instant for most networks. Once you initiate redelegation, your stake will seamlessly transfer to another validator.</li><li><strong>Unstaking</strong>: This step has an <strong>unbonding duration</strong>, which varies by network. Please ensure an early start to complete this process successfully.</li></ul><p><strong>Failure to act by the 17th July deadline will halt further reward generation.</strong> P2P.ORG's dedication to innovation, enhancing user experience, and community partnerships remain our priority through every decision. <br>We sincerely appreciate your flexibility during this transition.<br><br>Our team is here via our official Telegram channel if you have any questions or support. <br><br><a href="https://t.me/P2Pstaking**?ref=p2p.org">https://t.me/P2Pstaking</a>.<br><br><strong>About P2P Validator</strong></p><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. </p><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a><br></p>
from p2p validator
<p>We are excited to announce a <strong>significant update to our Polkadot Staking API</strong>, which was made possible by the dedicated efforts of our Staking API team.<br><br>In the rapidly evolving world of Web3, <strong>intermediaries like custodians, exchanges, wallets, and institutional investors are constantly seeking ways to optimize their services and provide superior value to their clients.</strong></p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-text">At P2P.org, we understand the critical role these intermediaries (for example, custodians, wallets, exchanges, and institutional investors) play in the ecosystem, and we are committed to offering solutions that enhance their operational efficiency and client offerings.</div></div><p>Our Staking API enables seamless integration and management of staking operations for Polkadot.</p><h3 id="why-choose-p2porgs-polkadot-staking-api"><strong>Why Choose P2P.org's Polkadot Staking API?</strong></h3><p>Our Staking API is tailored for businesses leveraging Polkadot's staking capabilities to enhance their service portfolio.<br><br>Here's how it can benefit your organization:</p><ol><li><strong>Streamlined Integration</strong>: Easily integrate staking functionalities into your existing systems with minimal effort, ensuring a smooth user experience for your clients. This saves you time and resources. It also enables you to integrate other networks to offer your clients various products effortlessly.</li><li><strong>Enhanced Security</strong>: Benefit from robust security features that protect your assets and ensure compliance with industry standards.</li><li><strong>Scalability</strong>: Our API supports high volumes of transactions, making it ideal for large-scale operations.</li><li><strong>Expert Support</strong>: Access our dedicated support team, which is ready to assist you with any technical challenges and ensure your integration is successful.</li><li><strong>Revenue Sharing</strong>: Benefit from a revenue-sharing model that aligns with your business goals, ensuring a mutually beneficial partnership.</li></ol><p>On top of that, our new Polkadot Staking API enhancements significantly increase the network rewards with P2P.org compared to the industry average. You can see it from this chart (check the <a href="https://dune.com/substrate/polkadot-staking?ref=p2p.org" rel="noreferrer">Dune Staking Dashboard for Polkadot and look for pools ID: 189 and 238</a>):</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/high-reward-polka-GRAPH-1.jpg" class="kg-image" alt loading="lazy" width="1978" height="1225" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/high-reward-polka-GRAPH-1.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/high-reward-polka-GRAPH-1.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/high-reward-polka-GRAPH-1.jpg 1600w, https://p2p.org/economy/content/images/2024/06/high-reward-polka-GRAPH-1.jpg 1978w" sizes="(min-width: 720px) 720px"></figure><p><strong>By enabling Nomination Pools staking via Staking API</strong>,<strong> we lowered the entry barrier for your Clients: Staking is</strong> <strong>now available starting from just 1 DOT</strong>. Before, the previous requirement was to stake at least 100K. This makes it accessible to a broader range of users.<br><br>This update provides much-needed flexibility and opportunities for our partners and clients. We believe it will foster new partnerships and help our existing partners grow their staking activities quickly and efficiently.</p><h3 id="how-does-the-integration-work"><strong>How does the Integration Work?</strong></h3><p>Our Staking API is designed to be intuitive and easy to implement. Here's a brief overview of the process:</p><ol><li><strong>Integration</strong>: Use <a href="https://docs.p2p.org/docs/staking-polkadot-public?ref=p2p.org" rel="noreferrer">our step-by-step documentation</a> and support resources to integrate the API into your platform easily. Approximate ETA: 3 days!</li><li><strong>On-demand support</strong>: Our integration team is ready to support you with any questions and doubts to lead to a successful integration</li><li><strong>Staking</strong>: Get your first stake and enjoy!</li></ol><h3 id="case-study"><strong>Case Study</strong></h3><p>Consider a scenario in which the CEO of a financial services company is seeking new revenue streams and ways to enhance client satisfaction. By integrating P2P.org's Staking API directly into their platform, the company can achieve several key objectives:</p><ol><li><strong>Operational Efficiency</strong>: By integrating our Staking API, the company can streamline staking operations, reducing manual effort and increasing reliability.</li><li><strong>Competitive Advantage</strong>: Our API optimizes the staking process, resulting in higher protocol rewards than other solutions (see the chart above: Our integration has historically provided higher staking rewards over the same period than others.). This positions the company as a leader in the market, providing an unparalleled staking experience that attracts more clients.</li><li><strong>Client Satisfaction</strong>: Thanks to reliable performance, your client satisfaction improves significantly. Our service boasts a 99% uptime SLA, ensuring that clients can stake their assets with confidence and reliability. The seamless staking experience and the promise of higher staking rewards ensure clients are more engaged and satisfied with the services.</li></ol><p>Contact us today to learn more about how our API can benefit your organization.</p><h3 id="person-of-contact">Person of contact:</h3><p>Polkadot Staking: <a href="mailto:[email protected]" rel="noreferrer">Alexander Tishin </a><br>Staking API integration: <a href="mailto:[email protected]" rel="noreferrer">Alessandro Maci</a><br><br>Let's continue to innovate and achieve great things together!</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Polkadot/Kusama network since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alex via <a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong> <a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a><br><br></p>
from p2p validator
<p></p><h2 id="what-is-babylon">What is Babylon?</h2><p><a href="https://twitter.com/babylon_chain?ref=p2p.org" rel="noreferrer">Babylon</a> is <strong>a revolutionary staking protocol that allows Bitcoin holders to provide their BTC assets to secure PoS systems</strong> and receive a yield on their assets.</p><blockquote>The idea of BTC staking is relatively new and needs further explanation. When discussing BTC staking, many people associate it with locking BTC in some multisig account, bridging BTC to other chains, and minting new synthetic tokens. The addition of third parties always reduces security. However, that's not the case with Babylon.</blockquote><p>To avoid misunderstandings, let’s clarify that Babylon is a Bitcoin Staking Protocol that provides shared security for PoS systems and allows Bitcoin holders to delegate their BTC to Finality Providers, who can then provide Bitcoin security to a consumer PoS chain or DA layer. On the other hand, there is also the Babylon chain, built on Cosmos SDK, which receives security from the Babylon Bitcoin Staking Protocol and acts as the first chain that Finality Providers can support. However, <strong>Babylon plans to support different PoS systems from various blockchain ecosystems and provide them access to shared security collateral with BTC.</strong></p><p>In this article, we’ll focus on the Babylon Bitcoin Staking Protocol. <strong>We’ll show you how the staking flow works</strong>, how Babylon applies non-custodial features, and why the process is secure.</p><h2 id="core-parts-of-the-babylon-bitcoin-staking-protocol">Core Parts of the Babylon Bitcoin Staking Protocol</h2><p>The Babylon Bitcoin Staking Protocol consists of two key protocols designed to enhance security in decentralized systems. These protocols leverage the robust features of both Bitcoin and Babylon:</p><ol><li><strong>Bitcoin Timestamping Protocol. </strong>This protocol in Babylon allows data from PoS systems, such as blockchains or DA layers, to be securely timestamped on the Bitcoin network. The protocol enables any data submitted to Babylon to receive Bitcoin timestamps, enhancing their security as more blocks are added over time. This increased immutability helps protect PoS systems from long-range attacks, improving their integrity. Additionally, this protocol facilitates data exchange between Bitcoin and other PoS systems that utilize BTC for security.</li><li><strong>Bitcoin Staking Protocol. </strong>Babylon’s Bitcoin Staking Protocol enables Bitcoin to secure decentralized systems through trustless, self-custodial staking. Bitcoin holders can stake their Bitcoin for PoS systems without needing third-party custody, bridges, or wrapping. This protocol offers economic security guarantees to PoS systems, allowing for slashing if necessary, and ensures efficient stake unbonding to enhance liquidity for Bitcoin holders. It’s designed to be modular and compatible with various PoS consensus protocols, serving as a foundation for building restaking protocols.</li></ol><p>These protocols form a solid foundation for Babylon, providing the ability to stake BTC and exchange data between Bitcoin and chains that use BTC as security collateral.</p><h2 id="how-does-staking-work">How does staking work?</h2><p>Before describing the entire flow, <strong>let’s briefly talk about the staking process's cornerstones: the Finality Providers' role, a time lock, and an EOTS signature.</strong></p><h3 id="finality-providers">Finality Providers</h3><p>Babylon introduces an additional layer of finality that can be added on top of CometBFT or other consensus protocols. Finality Providers are responsible for voting in a finality round on top of these consensus protocols.<br>Finality Providers can receive voting power delegations from BTC stakers and earn commissions from the staking rewards denominated in the tokens of the networks they support.</p><p>If a Cosmos chain decides to integrate with the Babylon Bitcoin Staking Protocol, they need to onboard Finality Providers in addition to their existing set of validators. Additionally, they must incentivize Finality Providers to secure the network by providing additional rewards.</p><p>This dual-layer security system creates a strong shared security that can be used by various PoS systems. <strong>By combining the efforts of current validators and Finality Providers, Babylon offers a solid foundation that PoS systems can use to boost their own security.</strong> This shared security strengthens the Babylon network and provides a reliable security setup for other networks and applications that connect with Babylon.</p><h3 id="a-time-lock">A Time Lock </h3><p>A UTXO time lock is a feature of the Bitcoin blockchain that ensures certain coins can't be used until a specific time or block height is reached. Since Bitcoin doesn't have smart contract functionality, developers use UTXO scripts to create these time locks. To set up a time lock on a UTXO, users need to utilize Bitcoin's script language. Bitcoin scripts define the conditions under which a transaction output can be spent. In the case of a time lock, the script includes specific opcodes (operations) that enforce the time-based restriction.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/1920x1080-9.jpg" class="kg-image" alt loading="lazy" width="1920" height="804" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/1920x1080-9.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/1920x1080-9.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/1920x1080-9.jpg 1600w, https://p2p.org/economy/content/images/2024/05/1920x1080-9.jpg 1920w" sizes="(min-width: 720px) 720px"></figure><p>Using time locks, Babylon can maintain a secure and trustless staking environment, giving users confidence that their staked assets remain controlled until the time lock conditions are met. This approach not only secures the funds but also enhances the overall integrity of the staking process.</p><h3 id="eots-signature">EOTS Signature</h3><p>An EOTS (Extractable One-Time Signature) is a cryptographic feature used by Babylon to enhance the security and integrity of its staking process. EOTS signatures are built using Schnorr signatures, which prevent finality providers from double-signing. In the context of Babylon, an EOTS signature ensures that if a finality provider attempts to sign two conflicting blocks, their secret key is revealed. This exposed secret key can then be used to penalize the malicious actor by triggering a slashing mechanism.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/1920x1080-36.jpg" class="kg-image" alt loading="lazy" width="1920" height="804" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/1920x1080-36.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/1920x1080-36.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/1920x1080-36.jpg 1600w, https://p2p.org/economy/content/images/2024/05/1920x1080-36.jpg 1920w" sizes="(min-width: 720px) 720px"></figure><p><br>Babylon employs EOTS signatures to ensure that Finality Providers validate blocks correctly and honestly. When a user like Alice stakes her Bitcoin, she relies on a Finality Provider to validate blocks using her staked BTC as collateral. If the Finality Provider behaves maliciously, for example, by signing the same block twice, the EOTS signature mechanism kicks in. Observers can detect the double-signing, reveal the provider’s EOTS secret key, and use this information to initiate a slashing transaction.</p><p><strong>Here’s how the EOTS signature is involved in the staking process:</strong></p><ol><li>Generating an EOTS Key Pair: The Finality Provider creates a pair of keys: a secret nonce and a public nonce.</li><li>Public Declaration: The Finality Provider announces in advance that for chain-X at block height-1000, this public nonce will be used to verify her vote. This ensures that only votes signed with this specific nonce will be accepted.</li><li>Signing the Block: After verifying block-1000 and being satisfied with it, the Finality Provider uses the secret nonce and her EOTS secret key to sign the block. She then publishes this signature as her vote.</li><li>Verification: The other participants can verify the vote using the finality provider’s EOTS public key and the pre-declared public nonce.</li></ol><p>Using EOTS signatures, Babylon adds an extra layer of security to its staking process. This mechanism guarantees that any attempt by a finality provider to act dishonestly is met with immediate consequences, such as slashing the staked BTC. This approach protects Alice's funds and maintains the integrity and trustworthiness of the entire Babylon staking system.</p><p>Let's imagine that Alice decides to stake her coins. What steps should she take?</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/1920x1080-37--1-.jpg" class="kg-image" alt loading="lazy" width="2000" height="782" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/1920x1080-37--1-.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/1920x1080-37--1-.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/1920x1080-37--1-.jpg 1600w, https://p2p.org/economy/content/images/2024/05/1920x1080-37--1-.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><h3 id="creating-a-staking-transaction">Creating a Staking Transaction </h3><p>When signing the transaction, Alice makes four essential steps:</p><ol><li>Creates a time lock for her BTC for a specified time range.</li><li>Chooses a Finality Provider to validate blocks and use Alice's BTC as security collateral.</li><li>Pre-signs a slashing transaction: Alice approves the transaction to be slashed if the finality provider she chooses acts maliciously. The finality provider's secret key is the only thing needed to broadcast this transaction. Bitcoins are slashed by sending them to a Bitcoin burn address like 0000…0000.</li><li>Links a Cosmos-based wallet for receiving rewards.</li></ol><h3 id="block-validation">Block Validation</h3><p>After staking BTC, the Finality Provider starts validating blocks to secure the PoS systems using the BTC delegated by Alice. There are two main scenarios for the finality provider:</p><ol><li>Acts Correctly—If the Finality Provider acts correctly and validates blocks without double-signing or being offline, the provider receives rewards for validating blocks, which Alice can claim. The Finality Provider can charge a fee for its validation services.</li><li>Acts Maliciously – If the Finality Provider acts maliciously, it can lead to a slashing transaction. Here’s how it can happen:<ol><li>For example, the Finality Provider acts maliciously by signing one block twice.</li><li>Whoever sees both votes can decrypt the provider’s EOTS secret key.</li><li>A special covenant committee signs the pre-signed slashing transaction created by the staker using the finality provider’s EOTS secret key.</li><li>The slashing transaction is broadcast to the network, and a portion of BTC is sent to a burn address like 0000…0000.</li><li>The remaining portion is returned to Alice.</li></ol></li></ol><p>Because of Babylon's approach's beauty, BTC is always held in Alice's account. If slashing occurs, her Bitcoin can only be withdrawn or sent to a burn address. The EOTS secret key is required to slash Alice's transaction, which can only be revealed if the validator acts maliciously. This architectural approach provides confidence that the whole process is secure and trustless, ensuring that Alice maintains control over her assets at all times. </p><p><strong>Alice's most important decision is choosing a provider with enough experience in the validating industry to secure her BTC without the risk of slashing it.</strong></p><h2 id="why-is-babylons-btc-staking-approach-different-from-alternatives">Why is Babylon's BTC staking approach different from alternatives?</h2><p>BTC holders can find different BTC staking solutions on the market. The most popular ones are Bitcoin L2s. If users want to stake their Bitcoins, they typically need to bridge Bitcoin using bridges, mint BTC derivatives on the receiving network, and find a protocol that allows them to stake their coins.</p><p>Most Bitcoin Layer 2 solutions don't use BTC as collateral for supporting PoS chains. Instead, they provide yield to BTC holders through additional emission, liquidity provision, or lending mechanisms.</p><p>Babylon's approach is more secure because it doesn't involve bridging or minting synthetic BTC. The source of yield is always clear, as it comes from supporting PoS networks, which reward validators with their coins.</p><p>We believe in the Bitcoin staking narrative and are committed to helping the Babylon Foundation use idle Bitcoin capital to fortify PoS systems. We will continue sharing content about this. Stay tuned for updates!</p><h2 id="how-to-participate">How to Participate?</h2><p>If you're interested in participating in the launch of Babylon, we recommend two main directions for involvement:</p><ol><li><strong>Testnet Participation:</strong> Engage with the Babylon testnet by staking your SignetBTC directly on Babylon's <a href="https://btcstaking.babylonchain.io/?ref=p2p.org"><u>official website</u></a>. This allows you to familiarize yourself with the platform's features and functionalities without risking real assets.</li><li><strong>Support for Large Bitcoin Holders: </strong>If you hold significant Bitcoin, don't hesitate to contact our team. We can provide tailored validator solutions that will be optimal for you when the mainnet launches.</li></ol><p>The Babylon Testnet-4 has already been launched, and the mainnet launch is anticipated by the end of the first half of the year. This new testnet focuses on the security of staked Bitcoins by testing user interactions with the BTC Signet test network. The Babylon team is actively monitoring updates and feedback from the community to ensure the network's robustness and security before the mainnet launch. </p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Babylon Chain activities since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alik via <a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p></p><p><strong>Introduction</strong></p><p>Today (4th July 2024) marks a significant milestone for Web3 as <a href="https://twitter.com/lagrangedev?ref=p2p.org" rel="noreferrer">Lagrange</a> Labs launches its Prover Network on the <a href="https://twitter.com/eigenlayer?ref=p2p.org" rel="noreferrer">EigenLayer</a> mainnet.<br><br>At P2P.org, <strong>we are thrilled to participate in this development, collaborating with top-tier institutional operators to bring the first decentralized zero-knowledge (ZK) prover network into production.</strong> <br><br>This launch represents a transformative step forward in adopting and implementing ZK technology, which promises to revolutionize how we approach scalability, privacy, and security in the blockchain space.</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Watch the video! Well-explained what the Zk (zero knowledge) technology is. 👌<br><br>We’re betting strongly on ZK proofs. Stay tuned to the upcoming launches of ZK networks.<br><br>Do you want to know what’s launching next?<br><br>⏩ Subscribe to the newsletter: <a href="https://t.co/QRWqmu2Rku?ref=p2p.org">https://t.co/QRWqmu2Rku</a> <a href="https://t.co/YhzTDULlzE?ref=p2p.org">https://t.co/YhzTDULlzE</a></p>— P2P.org (@P2Pvalidator) <a href="https://twitter.com/P2Pvalidator/status/1773629855860466007?ref_src=twsrc%5Etfw&ref=p2p.org">March 29, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p><br><br><strong>Our Role and Commitment</strong></p><p>As an operator within Lagrange's Prover Network, P2P.org is committed to contributing our expertise and infrastructure to ensure the network's success.<br><br>We are honored to join forces with esteemed partners such as Coinbase, Kraken's Staked, OKX, Ankr, Nethermind, and many more. Our collaboration underscores the collective effort to bring ZK technology to the forefront of the blockchain industry.</p><p>We have always been dedicated to supporting innovative technologies and enhancing the performance and reliability of decentralized networks. The launch of Lagrange's Prover Network aligns perfectly with our mission to advance blockchain technology and foster a more secure, scalable, and decentralized future.</p><p><strong>Lagrange's Prover Network 101</strong></p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text"><b><strong style="white-space: pre-wrap;">Lagrange’s Prover Network is the first production-ready decentralized ZK prover network designed to deliver high-liveness guarantees and cost-effective solutions </strong></b>for users and provers alike. </div></div><p></p><p>By leveraging EigenLayer's low-cost-of-capital environment and restaked ETH, the network ensures that users pay less for high availability while operators are incentivized to maintain optimal performance.</p><p>The Prover Network also introduces a novel architecture that enables a hyper-parallel ZK coprocessor. This allows <strong>developers to execute intensive off-chain computations and bring the results back on-chain with verifiable ZK proofs.</strong> This innovative approach significantly enhances the scalability and efficiency of ZK proofs, making them more accessible to developers and applications.<br><br>If you'd like to know more detailed information on Lagrange's ZK Prover, please read <a href="https://www.lagrange.dev/blog/lagrange-deploys-first-production-ready-zk-prover-network-powered-by-coinbase-kraken-and-okx?ref=p2p.org" rel="noreferrer">Lagrange's blog</a>.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.lagrange.dev/blog/lagrange-deploys-first-production-ready-zk-prover-network-powered-by-coinbase-kraken-and-okx?ref=p2p.org"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Lagrange: Lagrange Deploys First Production-Ready ZK Prover Network Powered by Coinbase, Kraken and OKX</div><div class="kg-bookmark-description"></div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://cdn.prod.website-files.com/6626eae60883543ea2814ed0/663aa051201b1281c91efeff_32.png" alt></div></div><div class="kg-bookmark-thumbnail"><img src="https://cdn.prod.website-files.com/6626eae60883543ea2814ed0/6628fa04f7855cecec18d64e_R.webp" alt></div></a></figure><p></p><p><strong>Our Continued Support for Lagrange</strong></p><p>In our previous blog post, <a href="https://p2p.org/economy/know-your-avs/" rel="noreferrer">Know Your AVS</a>, we highlighted the potential of advanced verification systems and our enthusiasm for partnering with trailblazers like Lagrange. Today, as we celebrate the launch of their Prover Network, we reaffirm our commitment to supporting Lagrange's vision and contributing to the broader adoption of ZK technology.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/know-your-avs/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Know Your AVS!</div><div class="kg-bookmark-description">Restaking with P2P.org: Know Your AVS The latest development in the EigenLayer protocol has culminated with the launch of the EigenLayer Stage 2 mainnet. This phase marks the introduction of Operators, who assume responsibility for performing validation tasks for Actively Validated Services (AVS) built on the EigenLayer protocol. This</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Kamil Jakub Natil</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/04/Know-Your-AVS.jpg" alt></div></a></figure><p></p><p><strong>Looking Ahead</strong></p><p>The launch of Lagrange's Prover Network on EigenLayer is just the beginning. P2P.org will continue to play an active role in the network, helping to scale its operations and ensure its robustness. We are excited about the opportunities for this collaboration and look forward to further innovations that will emerge from the Prover Network.</p><p>To stay updated on our progress and the latest developments within the Lagrange Prover Network, follow us on <a href="https://twitter.com/P2Pvalidator?ref=p2p.org" rel="noreferrer">social media</a> and <a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noreferrer">join our community discussions</a>. Together, we can drive the future of decentralized technology and unlock the full potential of zero-knowledge proofs.</p><p><strong>Conclusion</strong></p><p>The successful deployment of Lagrange's Prover Network marks a pivotal moment in the evolution of blockchain technology. At P2P.org, we are proud to be part of this historic launch and work alongside industry leaders to mainstream ZK technology. It's our commitment to advance the decentralized ecosystem and build a more secure, scalable, and efficient blockchain infrastructure for all.</p><h2 id="contact-us">Contact Us:</h2><p><em>Do not hesitate to ask questions in our </em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em>Telegram chat</em></a><em> <br>We are always open for communication.</em><br><br>We encourage you to check our website and start our staking journey together!</p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/ethereum?ref=p2p.org" class="kg-btn kg-btn-accent">Stake with us!</a></div><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a><br><strong>Blog:</strong> <a href="https://p2p.org/economy/">https://p2p.org/economy</a><br><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p><h1 id="about-p2p-validator"><br><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks.</p><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact our team directly on X or LinkedIn. We are always open to communication.</p>
from p2p validator
<p>Restaking in presents unique opportunities and challenges. <strong>This article explores the risks involved in restaking, such as smart contract vulnerabilities, operator issues, and protocol flaws, and offers practical strategies to mitigate these risks. </strong>Whether you're an experienced investor or a newcomer, this guide provides essential insights for secure and profitable restaking. Equip yourself with the knowledge needed to navigate this complex landscape confidently.</p><h3 id="contents">Contents</h3><ul><li>Intro</li><li>Map of risks<ul><li>EL smart contract risks</li><li>Operator risks</li><li>Protocol risks</li><li>Operational risks</li></ul></li><li>Risk mitigation</li></ul><h2 id="intro">Intro</h2><p>In April, <a href="https://www.eigenlayer.xyz/?ref=p2p.org">EigenLayer</a> restaking entered Stage 3 on the mainnet with an assortment of Actively Validated Services (AVS) becoming live and ready to be delegated. This marked the beginning of active restaking portfolio construction & management and refreshed the importance of restaking risk evaluation.<br><br>We at <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> take risk considerations carefully and are delighted to share our thoughts. This blog post aims to inform restakers of risks and risk mitigation measures. We will outline:</p><ul><li>the importance of building a risk framework</li><li>risks that may exist in restaking</li><li>risk mitigation strategies and why Operator choice is essential</li><li>challenges in risk evaluation<br></li></ul><blockquote><em>We exclude LRTs and risks specific to liquid restaking. However, a reader can use the provided information to explore the risks of underlying LRT restaking portfolios.</em></blockquote><p>We assume that a reader has an essential awareness of Ethereum, delegated proof of stake (DPoS) staking, and Eigenlayer restaking. For those who are not sure about that, we recommend checking out these resources:</p><ul><li><a href="https://ethereum.org/en/what-is-ethereum/?ref=p2p.org">What is Ethereum</a></li><li><a href="https://www.ledger.com/academy/what-is-delegated-proof-of-stake-dpos?ref=p2p.org">What is Delegated PoS</a></li><li><a href="https://docs.eigenlayer.xyz/eigenlayer/overview/?ref=p2p.org">Intro to Eigenlayer</a></li><li><a href="https://www.blog.eigenlayer.xyz/ycie/?ref=p2p.org">You Could’ve Invented Eigenlayer</a><br></li></ul><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://p2p.org/economy/content/images/2024/05/image-7.png" class="kg-image" alt loading="lazy" width="1602" height="1120" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-7.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-7.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-7.png 1600w, https://p2p.org/economy/content/images/2024/05/image-7.png 1602w" sizes="(min-width: 720px) 720px"><figcaption><span style="white-space: pre-wrap;">*</span><i><em class="italic" style="white-space: pre-wrap;">Mostly for illustrative purposes.</em></i></figcaption></figure><h3 id="background">Background</h3><p>In classic DPoS (<em>Delegated Proof of Stake</em>), a token holder who wants to stake chooses a staking service provider (SSP) who will operate nodes and perform protocol duties on the staker's behalf for some fee. This form of staker-SSP relationship is called a delegation. Delegations provide economic security to the protocol, require locking the funds, and are incentivized by reward earnings. A delegator is supposed to do their research on validators and decide who is the best in terms of yield & credibility.</p><p>Conceptually, the restaking process is similar to mere staking but introduces an additional layer of complexity. In addition to choosing an Operator, a delegator must now consider a set of protocols (AVSs).</p><p>We assume a case when a delegator has already settled with Ethereum - they run nodes themselves or stake via Ethereum staking service provider (SSP) or liquid staking protocol (LSP) and has yet to opt in restaking offered by Eigenlayer.</p><p>In Eigenlayer, a delegator (also referred to as a restaker) must choose a Strategy. The Strategy comprises an Operator and the set of AVSs supported by this Operator.</p><p>Operators are obliged to perform duties prescribed by AVS protocols. If they don't, they might be penalized, and the penalty is usually either slashing (burning a fraction of a stake) or jailing (de-registering, banning from operations).</p><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">A list of some slashing & jailing conditions that AVSs can have:<br><br>- Misattestation of block/data<br>- Doublesigning<br>- Operational<br>- Downtime<br>- Laziness (imitation of proper work)<br>- Wrong computation output</div></div><p><br>Slashing events may occur due to Operator misbehavior, failure, or protocol flaws, which are sometimes induced by specific market conditions (e.g., high load due to market volatility) and massive technical collapses. Even though slashing is not currently enabled in Eigenlayer, it eventually will be, and it's about the right time to start thinking about it if you didn't before.</p><p>Since a restaking choice is narrowed down to choosing a single Operator (per the same capital), the choice of the Operator is critical, as in case of severe operator-related issues, there is a chance of being penalized on all AVS simultaneously—risks become correlated to some extent. The infrastructure automation, monitoring, and support of AVSs will likely be handled by dedicated DevOps engineers, who may share a common architecture and resources.</p><p>For example, the whole cluster of different AVS nodes may go down because they were hosted on the same cloud provider, which went offline in disaster cases.</p><p><strong>Besides slashing risks, one could also think of Eigenlayer smart contract risks and operational risks.</strong></p><p>All these risks can be loosely classified by fundamental sources:</p><ul><li>Eigenlayer Smart contract risk</li><li>Strategy risk<ul><li>Operator (validator) risk</li><li>Protocol (AVS) risk</li><li>Operational (delegators operations) risk</li></ul></li></ul><p>Let’s look into these categories in the next section.</p><h1 id="map-of-risks"><br>Map of risks</h1><p></p><h2 id="eigenlayer-smart-contract-risks">EigenLayer Smart Contract risks</h2><p>EigenLayer consists of a complex set of smart contracts. Here are the most important ones:</p><ul><li><strong>EigenPod</strong> - verifies ETH Beacon deposits via Beacon chain oracle</li><li><strong>EigenPodManager</strong> - deploys pods, keeps track of pod shares (podOwnerShares)</li><li><strong>DelegationManager</strong> - registers operators</li><li><strong>StrategyManager</strong> - the primary entry- and exit point for funds into and out of EigenLayer</li><li><strong>Slasher</strong> - is attached to StrategyManager but does nothing at the moment</li></ul><p>Although we won't delve into their details in this chapter (how they function is well described in this <a href="https://www.blog.eigenlayer.xyz/ycie/?ref=p2p.org" rel="noreferrer">article</a>), it still merits mentioning mechanics related to slashing and draining risks.</p><p>EigenLayer restakes <strong>shares</strong>, not the underlying assets (ETH, LSTs) directly. Shares only exist in EigenLayer contracts for accounting and are subject to slashing. They are not tokens and are not transferrable. That highlights the possible foundation for developing slashing cancelation mechanisms. In the previous version of Eigenlayer, the slashing of real assets could happen via asset locks during the withdrawal process.</p><p>The most significant risk in EigenLayer in the existing version (and potentially in the following versions) is the <a href="https://docs.eigenlayer.xyz/eigenlayer/security/multisig-governance?ref=p2p.org" rel="noreferrer">upgrade governance</a>. Nine out of 13 community EOAs (P2P.org is one of the signers) can ruin the system if they coordinate or get hacked. Any malware code can be pushed to the mainnet smart contracts and drain the funds through them.</p><p>We will continue tracking the development and determine if additional jeopardizing features appear with new version releases.</p><h2 id="operators-risks">Operators risks</h2><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-9.png" class="kg-image" alt loading="lazy" width="2000" height="885" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-9.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-9.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-9.png 1600w, https://p2p.org/economy/content/images/2024/05/image-9.png 2000w" sizes="(min-width: 720px) 720px"></figure><h3 id="hardware">Hardware</h3><p>Under hardware, we understand the physical properties of infrastructure—location, CPU, bandwidth, power stability, etc. Operators can use various cloud providers and configure nodes that don't fully meet the requirements or face capacity problems over time. It won’t be clear until the protocol issues a penalty, and then it might be too late for a delegator as they lose funds.</p><p>Hardware issues usually lead to higher downtime risks (meaning losing rewards), but sometimes also to slashing.</p><blockquote>As an abstract example, bad connectivity may lead to delays in the perceived state of the network; therefore, a node will attest to wrong data that does not fit the consensus.</blockquote><h3 id="software">Software</h3><p>Software may include nodes’ clients, various plugins, and automatization and management solutions deployed by an Operator. Software problems can come from AVS developers and an Operator; sometimes, the node client might come from external developers, and an Operator may choose to use it. Bad, unaudited code and the absence of timely client updates may cause unexpected operational behavior and lead to downtime and slashing.</p><h3 id="hardware-software-setup">Hardware + Software = Setup</h3><p>Technical issues related to hardware and software are not perfectly independent. Problems with one may reveal issues with another.</p><blockquote>Consider an Operator who runs two nodes. The second one is a backup node in case the first one goes down. It is managed automatically. Imagine if the system wrongly decides that there’s a need to turn on the secondary node while the main one operates, maybe because of losing the connection to the primary node or for other reasons. This will then lead to double signing and, hence, slashing.</blockquote><p>In this example, a minor hardware (connectivity) problem highlighted suboptimal software configuration, which resulted in a catastrophe. Thus, it is also reasonable to evaluate hardware and software as a whole system from the design perspective.</p><h3 id="security-breaches">Security breaches</h3><p>Poor security procedures, such as weak passwords, access management, and key management, put node operations at risk. This won’t necessarily lead to the total loss of the delegation funds unless the delegation is made in a custodial way. Still, it may expose a protocol to dishonesty/griefing attack vectors, resulting in slashing.</p><h3 id="bad-actors-dishonesty">Bad actors & dishonesty</h3><p>Generally, dishonesty is driven by two major factors: profit extraction and griefing. Dishonesty is intentional. For this to happen, there should be a condition satisfied: </p><blockquote><em>Value from the attack > Cost of the attack</em></blockquote><p>The cost of the attack can be decomposed into a) financial cost and b) reputation cost.</p><p>Reputation cost is hard to denote in exact numbers but easy to grasp. If an Operator is caught doing dishonest actions, eventually, they will lose credibility and, consequently, delegations and future earnings. AVS operations do not limit the reputation damage and will spread across all Operator businesses. One can roughly say that reputation cost is the net present value of all future profits that an Operator can earn. The higher the TVL (as a proxy of profit), the higher the chance that the Operator will be honest. It merits mentioning that it is not essential that Operators are the only participants in the attack. They can be just members of the attack group and, in the end, bribed (or even hacked) by another party.</p><p>Financial costs will vary across AVSs depending on the protocol design. An abstract example would be network congestion or spamming to disable other Operators to take over a protocol for a short period. This may include fees, infrastructure, bribes to other Operators, etc. To determine the cost, one should inspect all possible attack vectors on AVSs, which is sometimes difficult.</p><p>The value from the attack will also depend on the AVS type and ecosystem around it — value locked, trading activity, etc.</p><h2 id="protocol-risks">Protocol risks</h2><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-10.png" class="kg-image" alt loading="lazy" width="2000" height="885" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-10.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-10.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-10.png 1600w, https://p2p.org/economy/content/images/2024/05/image-10.png 2000w" sizes="(min-width: 720px) 720px"></figure><h3 id="protocol-logic">Protocol logic</h3><p>Protocol logic resembles the set of rules, policies, and processes that govern the operations and, in particular, ensure that Operators are properly incentivized to perform duties well. Rules include consensus, slashing conditions, reward schemes, etc. Improper protocol logic design may cause unintended violations of slashing conditions.</p><blockquote>Imagine an oracle that delivers an aggregated exchange rate for some asset pair. Let it be a median price. Oracles gather data from external providers like Coingecko or CMC, each has their own version of truth. <br><br>Let this oracle protocol pursue accuracy of the data, it should be gathered timely. So if some Operator posts the price that diverges from the resulting median too much, then they get slashed. For example, this might happen when an operator is lagging and delivers an “old price”, which is inaccurate, or the Operator might want to influence the result value to attack DeFi protocols. These are Operator side issues that should be disincentivized. <br><br>But what if there’s a problem with the external source? The Operator performs their duties well but gets slashed anyway because their truth source differs from others. This is exactly the case of bad protocol rules’ design. No bad intention, no bad performance, still slashed.</blockquote><p>The example above may generally be applied to occasions when slashing cannot be organized purely based on on-chain data. However, such slashing conditions can be potentially mediated through $EIGEN token staking. Learn more in <a href="https://p2p.org/economy/how-eigen-works/">our blog post</a>. </p><h3 id="software-vulnerabilities">Software vulnerabilities</h3><p>There is a chance of AVS having code flaws, which may then expose it to security vulnerabilities and operations breaks. The consequences can vary depending on the attack goal, making operators attest to malicious state transition (i.e., enabling double spending), Oracle price misreporting, etc.</p><h3 id="infrastructure-landscape">Infrastructure Landscape</h3><p>Even if everything is good with Operators and AVS, the infrastructure landscape itself can still present slashing risks. For instance, imagine something like the supermajority of Geth clients in Ethereum*. This particular case is a protocol-level risk, but it comes from the existing infrastructure landscape and sometimes can be managed by an Operator.</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">❗</div><div class="kg-callout-text">*For a bigger picture, learn more about Ethereum supermajority risk here: <a href="https://supermajority.info/?ref=p2p.org">https://supermajority.info</a></div></div><h3 id="centralization-led-risks"><br>Centralization-led Risks</h3><p>Depending on the protocol design, sometimes large stake centralization poses risks for the whole network. If operators possessing large amounts of stake go offline or experience bugs, they can affect the whole network and cause mass slashing events. The probability of such a risk is higher when some Operator has a critical amount of delegations requiring just this Operator to fail to initiate the issue.</p><h3 id="staking-derivatives-contagion">Staking Derivatives Contagion</h3><p>LRTs appeared to be an important market player and have attracted large amounts of ETH since the launch of Eigenlayer. Some AVSs softly deal with them to ensure the initial amounts of security delivered. At the same time, the limit on LST restaking has been removed recently; therefore, an additional inflow of LST restaking can be expected.</p><p>Therefore, there can be situations when liquid restaking and staking protocols provide most of the AVS stake.</p><p>In normal market conditions, it doesn't pose any significant risk, but in the case of LRT and LST depegging, the security of AVS might evaporate, exposing it to attacks and instability.</p><h2 id="operational-risks">Operational Risks</h2><h3 id="reward-management-risks">Reward Management risks</h3><p>Security provisions are supposed to be rewarded, and restaking is no exception. There will be a large variety of AVSs; some may pay in the native tokens, some may pay out in tokens of integrated protocols (i.e., roll-ups), and tokens can even be issued in the non-Ethereum ecosystem (i.e., in Ethos). Once a restaker is rewarded, they must decide what to do with rewards - sell or stake again, if AVS accepts this token for staking, or swap to ETH and (re)stake ETH (or LST). Additional actions can be taken to accomplish that, such as reward withdrawal, bridging, swapping, etc. Apparently, restaking on multiple (imagine 10+ or even 20+) AVS will result in a resource-consuming reward management process.</p><p><strong>From a practical perspective, restakers can encounter the following:</strong></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-11.png" class="kg-image" alt loading="lazy" width="1430" height="972" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-11.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-11.png 1000w, https://p2p.org/economy/content/images/2024/05/image-11.png 1430w" sizes="(min-width: 720px) 720px"></figure><p><br>In the most basic cases, rewards are paid in ETH and occur at predefined Ethereum addresses. There is no need to make any withdrawals or trade tokens. It's almost the same as Ethereum staking itself.</p><p>In a complicated dual staking case, rewards are paid in the AVS token on the external blockchain. AVS has a dual staking model, and rewards should be claimed. Then, they might be compounded or sold, bridged, and dispersed across different trading venues.</p><p>There can be so many actions and various data to track that <strong>the number of points of failure and reporting nuances is pretty high</strong>. Compared to mere ETH staking, restaking requires additional time and resources in rewards management; otherwise, stakers may <strong>miss rewards, not meet tax liabilities, and fail to realize the yield.</strong></p><p>Regarding reward management procedures, restakers should consider market conditions for reward tokens. In particular, it is important to track the available liquidity on trading venues and choose an optimal execution strategy to preserve yield.</p><h3 id="additional-unbonding-period">Additional unbonding period</h3><p>Eigenlayer restaking increases the duration of ETH withdrawals as there’s the time of undbonding from AVSs. Therefore, additional opportunity costs can arise due to the inability to move ETH.</p><blockquote>Currently, Eigenlayer unbonding period equals 7 days, but the period can change in the future.</blockquote><h3 id="legal-risks">Legal risks</h3><p>A delegator should check whether the AVS and owning the AVS token or even restaking itself doesn’t violate legislation of the country of their residence.</p><p></p><h1 id="risk-mitigation">Risk mitigation</h1><h3 id="protocol-risks-the-devil-is-not-so-terrible-as-he-is-painted"><br>Protocol risks: The devil is not so terrible as he is painted.</h3><p>Mass slashing events caused by improper protocol functioning theoretically do not harm a restaker. Eigenlayer has a special committee that is expected to revert the consequences. Also, the protocols are examined and audited for such possibilities during the onboarding procedures. Therefore, without regulatory complications, a protocol risk is expected to be minimized to reward handling.</p><p>Nevertheless, it’s better to be aware of all kinds of scenarios, even if they can be managed post-factum. The odds are small, but can something go wrong? Keep that in mind while constructing a portfolio and checking for risks we outlined previously.</p><h3 id="choose-a-credible-operator">Choose a credible Operator</h3><p>To minimize Operator risk (which seems to be the largest source of risks so far), delegating to Operators with a solid track record and large TVL, public recognition, or personal assurance is important. Before choosing between different Operators, <strong>it is worth building a checklist</strong> highlighting TVL in other networks, acknowledgment from Eigenlayer and AVSs’ foundations, availability of SOC certificates, and previous cases of dishonest & unprofessional behavior that led to the loss of funds.</p><h3 id="plan-in-advance-how-the-reward-monitoring-and-reporting-will-work">Plan in advance how the reward monitoring and reporting will work</h3><p>As we saw above, the variety of yield extraction paths is huge, so a delegator should carefully examine it and construct business/monitoring/reporting processes themselves or outsource it to a specialized third party. Doing it properly will help maximize yield and avoid unnecessary tax and legal pressure. Data services become crucial in this regard.</p><h3 id="role-of-data-services">Role of data services</h3><p>Besides helping operational functions, data services can be applied to operator and protocol risk evaluation. The qualitative approach determines the surface of possible slashing risks but cannot tell the probabilities of outcomes.</p><p>Practically, almost always, there will be no available data or method to predict slashing risks with verifiable accuracy. Most slashing events have an extremely low probability, making it almost impossible to figure out the exact exposure. Historically, there have been few slashing events in matured networks, all having diverse origins.</p><p>Nevertheless, we still want to have something that might indicate the issue.</p><p>Generally, we expect gathering data about AVS operators’ performance to be possible. It can still be used to rank Operators and spot signs of infrastructure disturbances, which then can be used as a proxy for downtimes & slashing risks. For example, if an Operator frequently (and recently) experiences spikes in attestation miss rates in some abstract protocol, they may face harsher problems in the future unless the problem is fixed. These algorithms and models based on performance data are yet to be developed, and their sensitivity must be fine-tuned.</p><p><strong>About Lambda</strong><br>Historically, <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> extensively uses data services for internal needs (i.e., business analysis & planning) and external reporting (clients & research). Now, we aim to build a new data product to cover new data domains introduced by restaking.</p><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">We are working on the Lambda data platform with partners <a href="https://twitter.com/DroseraNetwork?ref_src=twsrc%5Etfw&ref=p2p.org">@DroseraNetwork</a> and <a href="https://twitter.com/OpenLayerHQ?ref_src=twsrc%5Etfw&ref=p2p.org">@OpenLayerHQ</a> to bring consensus layer data on-chain.<br><br>This innovation enhances Ethereum's EVM, providing accurate data for <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw&ref=p2p.org">@eigenlayer</a> ecosystems and making it more developer-friendly.<br><br>Details in the 💬 <a href="https://t.co/BIz4bgRa73?ref=p2p.org">pic.twitter.com/BIz4bgRa73</a></p>— P2P.org (@P2Pvalidator) <a href="https://twitter.com/P2Pvalidator/status/1794032940512665879?ref_src=twsrc%5Etfw&ref=p2p.org">May 24, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><p></p><p>Lambda is a data product from P2P<a href="http://p2p.org/?ref=p2p.org">.org</a> that originally stems from the staking data API for P2P clients. Lambda will offer pre-built real-time API endpoints for EigenLayer ecosystem builders, including:<br><br>- Operator performance metrics to monitor duties and slashing events for Beacon Chain, AVS, and Cosmos chains.<br>- Rewards and APRs to monitor profits from direct staking for each pair delegator-operator. It also includes rewards per re-staked ETH to measure the profit of re-staking.<br>- DeFi (DEX, Lend-borrow) reserves to manage liquidity for LRT.<br><br>The platform will also provide a customization engine for real-time APIs, allowing builders to integrate new endpoints without additional latency or loss in data quality. The Lambda team works with several AVS projects to explore integration methods. <br><br>Stay tuned for updates!</p><h3 id="conclusion">Conclusion</h3><p>In this blog post, we discussed risks that restakers might face when they choose the strategy and shared high-level recommendations around risk mitigation. There are still many open questions: slashing conditions and amounts are not stated for most of the AVSs, and Eigenlayer slashing logic has not been released yet. The restaking market is young, and protocols are not battle-tested. No slashing phase will give some time to work through unknowns.</p><p><a href="http://p2p.org/?ref=p2p.org">P2P.org</a> aims to actively contribute to risk evaluation discussion and continue working on risk assessment methodologies from qualitative and quantitative perspectives. As an operator in Ethereum and AVSs, we aim to navigate our clients and partners in the Eigenlayer ecosystem.</p><div class="kg-card kg-button-card kg-align-center"><a href="https://eth.p2p.org/auth?ref=p2p.org" class="kg-btn kg-btn-accent">Stake and restake your ETH with us!</a></div><h1 id="about-p2p-validator"><br><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks.</p><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact our team directly on X or LinkedIn. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<h3 id></h3><p>As one of the leading staking providers in the market, we frequently receive feedback from our clients about the need for a more comprehensive staking portfolio dashboard. They expressed the necessity for a tool that effectively tracks and monitors their staking metrics. That’s why we are excited to announce the launch of the Ethereum Staking Dashboard, a tool crafted to enhance how you track and analyse your Ethereum staking.</p><p>This innovative dashboard is designed to provide users with a detailed view of crucial staking metrics for the entire portfolio, demonstrating P2P’s commitment to advancing blockchain technology through strategic innovation.</p><p>Our team has worked hard to create a product that not only offers an exceptional user experience but also provides a broad set of features tailored for Ethereum stakers. <br><br></p><p><strong>Uncover the benefits that make our dashboard exceptional:</strong></p><ol><li>Support of Any Delegator Address:<ul><li>Ability to track data for the entire Ethereum community.</li></ul></li><li>Support of Multiple Addresses:<ul><li>Ability to create your personal account and track several deposit addresses</li></ul></li><li>Detailed Rewards Data:<ul><li>Fetch detailed rewards data for the tax office or any other purposes.</li></ul></li><li>Ability to View Public Staking Data:<ul><li>View and share public staking data for any address.</li></ul></li><li>Track All Figures in Tokens and USD:<ul><li>Monitor your staking figures in both tokens and USD for better financial oversight.</li></ul></li><li>Daily Rewards Statistics by Different Reward Types:<ul><li>Access detailed daily rewards statistics, categorised by reward types.</li></ul></li><li>Comprehensive Performance Metrics:<ul><li>Compare your portfolio's performance against the network with key metrics such as extracted rewards, participation rate, attestation correctness, missed blocks, % of MEV blocks, and others.</li></ul></li><li>Detailed MEV Rewards Statistics:<ul><li>Gain insights into detailed MEV rewards data.</li></ul></li><li>Detailed Lifetime Data for Any Validator:<ul><li>Track the performance history and detailed lifetime data for any validator.</li></ul></li></ol><p><strong>Ethereum Staking Dashboard: Open Insights for All</strong></p><p>Ethereum Staking Portfolio Dashboard is open to all, providing comprehensive staking insights in a user-friendly manner. </p><p><strong>Try it yourself: </strong><a href="https://app.p2p.org/dashboard?ref=p2p.org"><u>https://app.p2p.org/dashboard</u></a></p><p></p><p><strong>The Future of Staking Analytics: Expanding Horizons</strong></p><p>We're committed to expanding our platform to include data from a diverse range of cutting-edge blockchain networks, ensuring that our users have access to the most comprehensive and up-to-date staking insights. In the coming months, keep an eye out for the integration of data from EigenLayer, Solana, Polkadot, and Cosmos Hub.</p><p></p><p><strong>Unleash the Potential of Staking Data with Staking Data API</strong><br><br></p><p>Ready to take your staking applications and research to the next level? With our Staking Data API, you can fetch all of the staking data from a wide range of leading networks, including Ethereum, Polkadot, Solana, Cosmos Hub, Polygon, Sui, Kusama, Vara, and Moonbeam. </p><p>Visit our <a href="https://p2p.org/products/staking-data-api?ref=p2p.org"><u>Staking Data API</u></a> to explore the endless possibilities and unlock the full potential of staking data.</p>
from p2p validator
<h2 id="introducing-babylon">Introducing Babylon</h2><p></p><h3 id="1-the-problem">1. The Problem</h3><p>Bitcoin is the most prominent and valuable cryptocurrency in the world. However, it lacks mechanisms for holders to earn passive income, similar to PoS networks such as Ethereum, leading to millions of idle Bitcoins. The evolving blockchain landscape, especially Proof-of-Stake chains, demands consistent security and liquidity contributions, a role Bitcoin has yet to play significantly.</p><p>Current yield-generating solutions for Bitcoin involve moving assets to centralized platforms, which must be wrapped or stored in custodial wallets. This introduces risks such as hacks and regulatory issues, undermining the blockchain's decentralization and security principles.</p><p>Babylon addresses these issues by offering a decentralized alternative that not only opens up new opportunities for Bitcoin holders to generate yields but also enhances the security and functionality of the broader blockchain infrastructure.</p><h3 id="2-babylons-solution"><br>2. Babylon's Solution</h3><p>Babylon is a PoS protocol designed to enable Bitcoin holders to stake their BTC in a secure and non-custodial manner, allowing them to earn rewards in tokens of chains they support.</p><figure class="kg-card kg-image-card"><img src="https://lh7-us.googleusercontent.com/sVlmVDQFTBG3pHPkTQz0KzC-2lAP3woc2_MCJcFTUaXbYkd4NA1lwfmsmtP7_HfjUtHWytuiFJ_o7HsayVUEUWylqoVyzMX4oh1GTI3O3KpnJf-LjY50D2icGP-Sk_BkHn0nYHLnZNKbbKrJvLFDQ1M" class="kg-image" alt loading="lazy" width="1600" height="900"></figure><p></p><p><strong>The protocol includes two protocols:</strong></p><ul><li><strong>Bitcoin timestamping: </strong>This protocol sends succinct and verifiable timestamps of any data (such as PoS blockchains) to Bitcoin</li><li><strong>Bitcoin staking: </strong>This protocol allows Bitcoin, the asset, to provide economic security to any decentralized systems through trustless (and self-custodian) staking.</li></ul><p>At its core, Babylon allows Bitcoin users to directly stake their BTC, supporting Proof-of-Stake chains while simultaneously earning yields in tokens of chains they support. This capability transforms idle Bitcoin into active, yield-generating assets without requiring holders to relinquish control or security.</p><p><strong>The key features of Babylon include:</strong></p><ol><li><strong>Yield Generation:</strong> Users can earn rewards by staking their BTC directly on the platform.</li><li><strong>Fast Unbonding: </strong>A quick unbonding process allows users to withdraw their staked Bitcoin promptly.</li><li><strong>Non-Custodial Staking: </strong>Users maintain complete control over their BTC without transferring them to a third party.</li><li><strong>EOTS Signature for Security:</strong> This ensures security by ensuring the staked Bitcoin is locked and accounted for.</li><li><strong>Cross-Chain Interoperability: </strong>Facilitates interactions between different blockchain networks, enhancing the utility and reach of staked assets.</li><li><strong>Slashing Mechanism:</strong> Implements measures to penalize bad actors, thus safeguarding the network's integrity and user assets.</li></ol><p>Babylon presents an innovative and secure solution to the problems faced by Bitcoin holders and the broader blockchain ecosystem. </p><h3 id="3-how-does-it-generally-work">3. How does it generally work</h3><p>A user with BTC can secure the Babylon chain or other Cosmos PoS chains while receiving yields in their tokens. To do this, the user must lock their BTC coins on Bitcoin. Because Bitcoin doesn't support smart contracts, the user should initiate the staking process using a <a href="https://academy.binance.com/en/glossary/unspent-transaction-output-utxo?ref=p2p.org"><u>UTXO transaction</u></a> that creates a time lock for the BTC coins. This UTXO transaction has three main outputs: the time lock can expire, allowing withdrawal; the user can unbond their transaction before expiration; the transaction can be slashed if a validator acts maliciously.</p><figure class="kg-card kg-image-card"><img src="https://lh7-us.googleusercontent.com/TlrRoo92Dv84SpZHXzPnf9Fld9RkMzwLc0MVuWAzbK1S5BfGbTDuaUNClgNPnCZcBGLuoDp57M9SR37k4b5hluaJY_52VYLSx0_d8sNUS1RivRQ65CI1o3t5gSg0GZqh4887RHI9GXK1O7YdkFNgwlg" class="kg-image" alt loading="lazy" width="1600" height="900"></figure><p>After signing the transaction, the user delegates their BTC tokens to a finality provider, who can validate the transaction. This allows the user to receive yield if the provider secures blocks correctly. However, if the finality provider acts maliciously, it can be slashed.</p><p>The cornerstone of the entire model is the pre-signed slashing transaction and EOTS keys. When staking, the user pre-signs a slashing transaction that can be broadcast to the network if the finality provider acts maliciously. If the provider double-signs a block, its EOTS keys are revealed, and the covenant committee can sign the pre-approved transaction using the finality provider’s private key.</p><ol><li><strong>Detection of malicious activity</strong>: Finality providers detect malicious activity, such as another finality provider signing a block twice.</li><li><strong>Exposure of private key:</strong> If malicious activity is detected, the malicious finality provider’s private key is leaked.</li><li><strong>Notification and slashing:</strong> The finality providers notify the covenant committee, which signs the pre-signed slashing transaction using the exposed private key and broadcasts it to the network.</li><li><strong>Slashing transaction:</strong> A predetermined amount of Bitcoins is sent to a burn address as a penalty for the malicious activity.</li></ol><p>The process results in securing PoS chains and receiving yields for BTC tokens, which depend on the chains the user secures. Initially, the Babylon chain will start on the mainnet by ensuring only the Babylon chain itself. Still, stakers can secure other Cosmos chains and receive yields in their tokens.</p><h3 id="4-investors-and-market-confidence">4. Investors and Market Confidence</h3><p>Babylon has successfully secured substantial funding across several rounds, showcasing strong market trust and investor interest in its innovative approach to Bitcoin staking.</p><p><strong>Seed Round: </strong>Babylon initiated its funding journey by raising $8.8 million in a seed round led by IDG and Breyer Capital, emphasizing early support from established investors in transformative technologies.</p><p><strong>Series A Funding: </strong>The momentum continued with a Series A round that raised $16 million. This round was co-led by Polychain Capital and Hack VC and saw additional participation from Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, Finality Capital, Breyer Capital, Symbolic Capital, and IOSG Ventures. The diverse investor base in this round highlights a robust endorsement of Babylon’s technology and strategic direction.</p><figure class="kg-card kg-image-card"><img src="https://lh7-us.googleusercontent.com/iOnLuQ4shVuFqN2B21LVeJzjF_xoeqOL8i5TivZan-49K6WHj6VtPMleRAZe0IRWU-j-KxO0wvO7sRt0vH0kvNTZtwqKUYTtLcGbYESkTieJT3rXMjDY_JujXlt_4a0S8RU3bcv5k3EH0d1CPhT5wkg" class="kg-image" alt loading="lazy" width="1600" height="900"></figure><p><strong>Last Round: </strong>Binance Labs made the most recent investment, reflecting significant strategic backing. This partnership provides financial resources and enhances Babylon’s capabilities in technology development and global market positioning.</p><p>These investment milestones fund Babylon's growth and affirm its potential as a significant player in the evolving landscape of blockchain technology and cryptocurrency.</p><h3 id="5-how-to-participate">5. How to Participate</h3><p>If you're interested in participating in the launch of Babylon, we recommend two main directions for involvement:</p><ol><li><strong>Testnet Participation:</strong> Engage with the Babylon testnet by staking your SignetBTC directly on Babylon’s <a href="https://btcstaking.babylonchain.io/?ref=p2p.org"><u>official website</u></a>. This allows you to familiarize yourself with the platform’s features and functionalities without risking real assets.</li><li><strong>Support for Large Bitcoin Holders: </strong>If you hold a significant amount of Bitcoin, don't hesitate to contact our team. We can provide tailored validator solutions that will be optimal for you when the mainnet launches.<br></li></ol><p>The Babylon is currently in the testnet phase, with the mainnet launch anticipated by the end of the first half of the year. The new testnet (bbn-test-4) will focus on the security of staked Bitcoins by testing user interactions with the BTC Signet test network. The Babylon team plans to launch this new testnet towards the end of May 2024. The team is closely monitoring updates and feedback from the community to ensure the robustness and security of the network before the mainnet launch. </p><p></p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks.</p><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact our team directly on X or LinkedIn. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a><br><br><br><br></p>
from p2p validator
<p>We have exciting news that will boost your staking returns!</p><p>From <strong>June 1st to June 30th</strong>, we’re launching a special promotion to reduce fees to an incredible <strong>0.5%</strong> for a select group of our validators in the Polkadot network. With our dynamic fee structure, you can enjoy better returns and a more rewarding staking experience.</p><p><strong>What’s New:</strong></p><ul><li><strong>Dynamic Fee Structure:</strong> We’re temporarily lowering the fees to <strong>0.5%</strong> for a subset of our validators. This subset changes approximately monthly, so you can always access <a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> validators with reduced costs.</li><li><strong>Better Returns:</strong> With lower fees during this promo period, you can earn more from your staking.</li><li><strong>Monthly Rotating Low-Fee Validators:</strong> A new set of <a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> validators will be chosen monthly. This ensures you can always stake with low-fee validators, regardless of when you start staking.</li><li><strong>Fair and Transparent:</strong> We’re all about transparency. The rotation of low-fee validators will be clear and balanced, and each <a href="http://p2p.org/?ref=p2p.org">r</a>otation will be announced on <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> communities on Telegram and Twitter. Stay tuned!</li></ul><p><strong>How It Works:</strong></p><ul><li>From <strong>June 1st to June 30th</strong>, take advantage of the <strong>0.5%</strong> fee with these validators:</li></ul><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">13uW7auWPX9WAtqwkBx7yagb78PLcv8FAcPZEVCovbXoNJK4 12ud6X3HTfWmV6rYZxiFo6f6QEDc1FF74k91vF76AmCDMT4j 145Vw57NN3Y4tqFNidLTmkhaMLD4HPoRtU91vioXrKcTcirS</div></div><ul><li>At the start of each month, we’ll announce the new validators with reduced fees for the next period. The current validators’ fees will then return to our standard rate (4.5% as of May 2024).</li></ul><p>Remember, this reduced fee is a special promotion and not permanent. Make sure to take advantage of it while it lasts!</p><p>We’re thrilled about these changes and believe they’ll make a significant difference for you. Thank you for being part of the <a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> community and for your continued support.</p><p>If you have any questions or want to discuss this further, our support team is here to help.</p><p>Happy Staking!</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Polkadot/Kusama network since the beginning.</p><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Alex via <a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong> <a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
from p2p validator
<p>On April 29, EigenLayer introduced the $EIGEN, which has a unique token design and utility. We dived deeper to explain intersubjective faults, how tokens may be forkable, and the nature of $bEIGEN.</p><h1 id="what-is-eigen">What is $EIGEN?</h1><p>Before discussing $EIGEN and its design, it's essential to understand some concepts introduced by EigenLayer.</p><p>The main idea behind any decentralized network or service is trustlessness. This means you don't need a central supervisor. Instead, the network's nodes work together to verify each other's work. If a node breaks the network rules, it gets punished through a process called slashing. For example, if an Ethereum validator creates two different blocks simultaneously, it's considered an attempt to split the network into two forks, and the validator is punished by slashing.</p><p>Decentralized services rely on the ability to verify if nodes violate network rules and punish bad behavior. However, not all types of bad behavior are easy to verify and punish. EigenLayer divides bad behavior (faults) into two types:</p><ol><li><strong>Objective Faults</strong>: These are behaviors that can be verified within a blockchain using mathematical or cryptographic methods.</li><li><strong>Intersubjective Faults</strong>: These are behaviors that cannot be objectively identified on-chain, but any reasonable observer would agree that a fault occurred and deserves a penalty.</li></ol><figure class="kg-card kg-image-card"><img src="https://lh7-us.googleusercontent.com/iG7oqosSleJ4W2xN_FNg4d-B6vFNCbTL1HtpmImB2uqhCCDamkgrXcLaRJdewETTpfBrL9zYCuOzOMgKHukhO7GZ6H5w85LMZ7VGyxdu2Vic3exRkJhpFrAViInyLXiTRT0eA1QsPPOb7nadNw0uZwc" class="kg-image" alt loading="lazy" width="1600" height="840"></figure><p>ETH restaking provides a way to penalize objective faults, extending Ethereum's security to other protocols. The new $EIGEN token introduces a mechanism specifically designed to address intersubjective faults.</p><p>$EIGEN works like staking, where slashing is imposed through mechanisms similar to formalized social disputes because these slashing conditions cannot be tracked on-chain. Another analogy is governance: voting for or against proposals to charge malicious actors. You can read more about objective and intersubjective faults in the white paper.</p><p>The purposes of $EIGEN are:</p><ol><li>To cover off-chain slashing conditions. Examples include transaction ordering, databases, prediction markets, storage services, oracles, artificial intelligence, and more.</li><li>To enable protocols to implement some form of slashing without designing on-chain slashing. This can be used in new launches before ETH restaking is enabled.</li></ol><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">What are some usecases of AVSs with intersubjective slashing <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw&ref=p2p.org">@eigenlayer</a><br>---------------<br>1) EigenDA - to slash for data withholding (not onchain verifiable)<br><br>2) Ordering service - to slash for censorship (not onchain verifiable)<br><br>3) Validity on arbitrary VM - to slash for… <a href="https://t.co/uvhGHdDWwJ?ref=p2p.org">https://t.co/uvhGHdDWwJ</a></p>— Sreeram Kannan (@sreeramkannan) <a href="https://twitter.com/sreeramkannan/status/1788093177288601851?ref_src=twsrc%5Etfw&ref=p2p.org">May 8, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><h1 id="token-fork%E2%80%A6-how-will-it-work">Token fork… how will it work?</h1><p>$EIGEN is represented in two forms: bEIGEN and EIGEN, both of which are ERC-20 tokens that can be interchanged.</p><ul><li><strong>bEIGEN</strong>: This is a bonded (staked) token used for staking. It can be withdrawn by converting it back into EIGEN. bEIGEN is subject to forking, which is a slashing mechanism.</li><li><strong>EIGEN</strong>: This is a transferable token used for non-staking purposes, such as DeFi. It can be bonded by converting it into bEIGEN.</li></ul><p>The purpose of having two representations is to simplify the process and avoid complications related to forking. If there were only one token, every forking event would require DeFi platforms and CEXes to register a new fork and supply liquidity, which is inconvenient.</p><p>Now, let’s imagine that some AVS adopted $EIGEN to secure intersubjective slashing conditions. This AVS defines the mechanism for how the intersubjective slashing will work, i.e., conditions, dispute periods, voting design, etc. Here’s a step-by-step explanation of the forking process when an operator commits an intersubjective fault:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-4.png" class="kg-image" alt loading="lazy" width="1414" height="646" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-4.png 1000w, https://p2p.org/economy/content/images/2024/05/image-4.png 1414w" sizes="(min-width: 720px) 720px"></figure><ol><li><strong>Social Deliberation</strong>:<ul><li>A fault alert is raised by a bEIGEN staker.</li><li>Consensus participants engage in deliberation to discuss the issue.</li><li>Honest participants converge on an opinion and agree on who will raise the challenge.</li></ul></li><li><strong>Challenge</strong>:<ul><li>Raising a challenge involves launching a new version of bEIGEN (an ERC-20 contract fork), a new challenge contract, and a new fork-distributor contract.</li><li>These contracts specify how malicious operators are penalized and how challengers are rewarded.</li><li>A challenger must submit a significant number of bEIGEN tokens as a bond, which will be returned if the challenge is successful.</li><li>The new bEIGEN accounts for the operators' malicious actions, slashes them, and rewards the challengers.</li></ul></li><li><strong>Configuring the EIGEN Contract</strong>:<ul><li>If the challenge is successful, EIGEN should be tied to the new fork of bEIGEN through an upgrade transaction.</li></ul></li></ol><h1 id="eigen-allocation-details">$EIGEN allocation details</h1><p>You can read all details about token allocation and check your eligibility on the official site <a href="https://eigenfoundation.org/?ref=p2p.org">https://eigenfoundation.org/</a> Here is a summary</p><p>The total supply of EIGEN at launch is 1,673,646,668.28466 tokens.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-6.png" class="kg-image" alt loading="lazy" width="1418" height="806" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-6.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-6.png 1000w, https://p2p.org/economy/content/images/2024/05/image-6.png 1418w" sizes="(min-width: 720px) 720px"></figure><p>Notable that In the initial phase, the $EIGEN will be non-transferable and non-forkable. That means you can’t trade it and get slashing. According to the EigenLayer plans, we can expect enabling transferability by the end of Q3 after the <a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org#:~:text=Responsible%20Rollout%3A%20Non%2DTransferability" rel="noreferrer">following milestones</a>:</p><ul><li>Community Discussions and agreement about EIGEN’s novel design, parameters, and proposed implementation.</li><li>Payments and Slashing enable the improvement of key features for a sustainable marketplace.</li><li>Enhanced Decentralization with token allocation to the community of 15% of the EIGEN supply and community participation in upcoming protocol governance.</li></ul><h1 id="what-to-do-with-eigen">What to do with $EIGEN?</h1><p>EigenLayer <a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org#:~:text=Enhanced%20Decentralization" rel="noreferrer">announced the plans</a> to empower decentralization and distribute 8.95% more of the initial token supply for ecosystem participation before the token become transferable and forkable (so approx. next four months). </p><p>One of the few options to participate in the ecosystem right now is by staking $EIGEN. Since the token is currently non-transferable, staking is the only available action. By staking $EIGEN, you will help secure EigenDA and other upcoming intersubjective AVSs.</p><p>To get started with staking $EIGEN, check out our step-by-step staking guide in our detailed article.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/eigen-staking-guide-with-p2p/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">$EIGEN Staking Guide</div><div class="kg-bookmark-description">EIGEN stakedrop claims are open. Season 1 starts with 6.05% of the initial supply ready to claim. Eigen Foundation has already announced the next stakedrop season plans and is considering distributing 8.95% of the initial token supply for ecosystem participation. This guide will explain how to participate in</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Vladislav Kurenkov</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/Guide-2.jpeg" alt></div></a></figure><h1 id="more-reading-about-eigen">More reading about $EIGEN</h1><ol><li><a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org" rel="noreferrer">Blog announcement</a></li><li><a href="https://github.com/Layr-Labs/whitepaper/blob/master/EIGEN_Token_Whitepaper.pdf?ref=p2p.org" rel="noreferrer">$EIGEN whitepaper</a></li><li><a href="https://docs.eigenfoundation.org/?ref=p2p.org" rel="noreferrer">Stakedrop season1 FAQ</a></li></ol>
from p2p validator
<p>EIGEN stakedrop claims are open. Season 1 starts with 6.05% of the initial supply ready to claim. Eigen Foundation has already announced the next stakedrop season plans and is considering distributing 8.95% of the initial token supply for ecosystem participation.</p><p>This guide will explain how to participate in the ecosystem and secure EigenDA and other AVS that will soon accept $EIGEN as staking collateral.</p><h1 id="how-to-choose-the-operator-for-eigen">How to choose the operator for $EIGEN</h1><p>While $EIGEN can secure ONLY EigenDA it doesn't matter how many AVS supports your operator (because your $EIGEN stake won't participate in securing other AVS except EigenDA). A few considerations to take into account: </p><ol><li>It's important that the operator plans to onboard more AVS using $EIGEN, which is coming according to EigenLayer announcements. </li><li>you can delegate all your staked assets only to one operator, including restated natively ETH, LST, and $EIGEN. Therefore, if you already opted in for some operator previously, you don't need to do that again; after depositing $EIGEN to the EigenLayer smart contracts, it will be automatically delegated to an operator you have already chosen. </li><li>since you can't choose separate operators for your restaked ETH and $EIGEN, in case you have restaked $ETH it makes sense to opt-in operator best suited both for restaked ETH and restaked $EIGEN</li></ol><h1 id="two-options-if-you-decided-to-stake-with-p2porg">Two options if you decided to stake with P2P.org</h1><p></p><ol><li><a href="https://app.eigenlayer.xyz/operator/0xb585cb192855253d33ddbdac2d20f50085ef8d41?ref=p2p.org">Renzo x P2P.org operator</a> for ONLY $EIGEN restaking. - supports all intersubjective AVSes. It's only EigenDA now, but expecting more in the near future. On top of that, this operator has an additional incentive from our partner <a href="https://app.renzoprotocol.com/portfolio?ref=p2p.org" rel="noreferrer">Renzo</a> - 100 ezPoints for every 100 $EIGEN staked.<br><br>How to restake with P2P x Renzo operator -> <a href="https://p2p.org/economy/eigen-staking-guide-with-p2p/#:~:text=by%2Dstep%20guide-,1.Renzo%20x%20P2P.org,-operator%20for%20ONLY" rel="noreferrer"><strong>step-by-step guide</strong></a><br></li><li><a href="https://app.eigenlayer.xyz/operator/0xdbed88d83176316fc46797b43adee927dc2ff2f5?ref=p2p.org">P2P.org [all AVS]</a> operator for ETH and $EIGEN restaking. It doesn't have a Renzo ezPoints incentive, but supports all AVS securing both your ETH and $EIGEN stake, thus maximizing your farming opportunities. <br><br>How to restake with this operator P2P.org[all AVS] -> <a href="https://p2p.org/economy/eigen-staking-guide-with-p2p/#:~:text=staked%20with%20Renzo.-,2.P2P.org%20%5Ball%20AVS%5D,-operator%20for%20ETH" rel="noreferrer"><strong>step-by-step guide</strong></a></li></ol><h1 id="1renzo-x-p2porg-operator-for-only-eigen-staking-guide">1.Renzo x P2P.org operator for ONLY $EIGEN staking guide</h1><p>We proudly announce that we are partnering with Renzo to provide users with better UX and increase farming opportunities. Renzo makes staking your $EIGEN and giving you ezPoints as incentive while <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> ensures validator infrastructure uptime and manages associated risks of securing EigenDA</p><p>1.Check eligibility & claim $EIGEN <a href="https://claims.eigenfoundation.org/?ref=p2p.org">https://claims.eigenfoundation.org/</a>. You have to connect the wallet and accept the Terms to do that. Note you will need to turn off the VPN to do that.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image.png" class="kg-image" alt loading="lazy" width="2000" height="1150" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image.png 1600w, https://p2p.org/economy/content/images/2024/05/image.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="2"><li>Go to Renzo dApp and connect wallet <a href="https://app.renzoprotocol.com/portfolio?ref=p2p.org">https://app.renzoprotocol.com/portfolio</a></li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-1.png" class="kg-image" alt loading="lazy" width="2000" height="1041" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-1.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-1.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-1.png 1600w, https://p2p.org/economy/content/images/2024/05/image-1.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="3"><li>Stake your $EIGEN. You will need to sign three txs to do that. </li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-2.png" class="kg-image" alt loading="lazy" width="2000" height="1114" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-2.png 1600w, https://p2p.org/economy/content/images/2024/05/image-2.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="4"><li>Receive 100 ezPoints for every 100 $EIGEN staked with Renzo.</li></ol><h1 id="2p2porg-all-avs-operator-for-eth-and-eigen-staking-guide">2.P2P.org [all AVS] operator for ETH and $EIGEN staking guide</h1><p>1.Check eligibility & claim $EIGEN <a href="https://claims.eigenfoundation.org/?ref=p2p.org">https://claims.eigenfoundation.org/</a>. You have to connect the wallet and accept the Terms to do that. Note you will need to turn off VPN to do that.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image.png" class="kg-image" alt loading="lazy" width="2000" height="1150" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image.png 1600w, https://p2p.org/economy/content/images/2024/05/image.png 2000w" sizes="(min-width: 720px) 720px"></figure><ol start="2"><li>After you claim tokens visit <a href="https://app.eigenlayer.xyz/restake/EIGEN?ref=p2p.org" rel="noopener noreferrer">https://app.eigenlayer.xyz/restake/EIGEN</a> and enter the amount that you'd like to deposit and push delegate button </li></ol><figure class="kg-card kg-image-card"><img src="https://docs.eigenlayer.xyz/assets/images/stake-eigen-one-0e44816b1ad8ca47935414e9c671bfb4.png" class="kg-image" alt loading="lazy" width="2562" height="1440"></figure><ol start="3"><li>Once the deposit is successful, click on the Delegate button. (If you have restaked ETH and you have already delegated it to an operator, you're done - your EIGEN is automatically delegated to that same operator)</li></ol><figure class="kg-card kg-image-card"><img src="https://docs.eigenlayer.xyz/assets/images/stake-eigen-two-2c6ec74c0ae8b9572b267ae935463ff6.png" class="kg-image" alt loading="lazy" width="2559" height="1438"></figure><ol start="4"><li>Go to P2P.org [all AVS] delegator's page <br><a href="https://app.eigenlayer.xyz/operator/0xdbed88d83176316fc46797b43adee927dc2ff2f5?ref=p2p.org">https://app.eigenlayer.xyz/operator/0xdbed88d83176316fc46797b43adee927dc2ff2f5</a></li><li>Click Delegate to initiate a delegation.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-3.png" class="kg-image" alt loading="lazy" width="2000" height="1167" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/05/image-3.png 1600w, https://p2p.org/economy/content/images/2024/05/image-3.png 2000w" sizes="(min-width: 720px) 720px"></figure><h1 id="stakedrop-eigenlayer-faq">Stakedrop EigenLayer FAQ </h1><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://docs.eigenfoundation.org/?ref=p2p.org"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Overview | EigenFoundation</div><div class="kg-bookmark-description">What is a stakedrop? An airdrop designed for EIGEN staking. Learn more about staking here.</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://docs.eigenfoundation.org/img/favicon.ico" alt><span class="kg-bookmark-author">EigenFoundation Logo</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://docs.eigenfoundation.org/img/meta_banner.png" alt></div></a></figure>
from p2p validator