<p>We're elated to unveil our collaboration with Chainflip, a pioneering protocol to reshape how value transfers occur between blockchains. As Chainflip's genesis validator, P2P.org enters the scene from the inception of the mainnet, bringing with us a legacy of exceptional security features and staking acumen to simplify institutional onboarding for staking solutions. <br></p><p>Chainflip, being a Substrate-based chain, aligns well with our extensive experience as a leading validator on Polkadot/Kusama for more than three years. This experience underscores our capability to fulfill Chainflip's vision as their genesis validator. We are poised to offer secure validator services to enhance the decentralization of the operator set further.<br></p><p>Embracing our vast experience across over fifty blockchains, we're geared to reinforce Chainflip's ambition for a holistic, decentralized Web3 landscape, bringing our unparalleled security features and staking expertise to the table, amplifying Chainflip's vision of a decentralized and composable Web3 ecosystem. <br></p><p><strong>About Chainflip</strong><br></p><p>Chainflip aims to revolutionize the crypto landscape by addressing the limitations of centralized exchanges, which have long dominated value transfers between different blockchains. Building upon the foundational AMM ideas popularized by Uniswap, Chainflip's protocol extends this to a multi-chain environment.<br></p><p>Chainflip is laser-focused on a mission that resonates with us at P2P.org: to offer not just an alternative but a superior option to centralized exchanges for cross-chain asset swaps. The goal is ambitious but highly achievable via a two-fold approach:<br></p><ol><li><strong>Develop the Best Cross-Chain DEX Technology:</strong> Chainflip is committed to building top-tier decentralized exchange technology with a user-centric focus.</li><li><strong>Forge Partnerships with Aligned Entities:</strong> A core part of Chainflip's strategy is collaborating with entities that share their vision, as these partnerships will expedite the adoption of cross-chain solutions.<br></li></ol><p>The ethos of Chainflip aligns beautifully with our own mission at P2P.org—creating a decentralized open financial system for all. We're taking a leap towards realizing this vision by merging Chainflip's groundbreaking cross-chain technology with our robust infrastructure and staking services.<br></p><p>This partnership is an important milestone for both Chainflip and P2P.org as we move toward a future that eliminates the barriers to asset transfer between blockchains, thereby democratizing access to various financial services in a secure, non-custodial manner.<br></p><p><strong>Chainflip's technology is designed to be:</strong><br></p><ul><li><strong>Wallet and Chain Agnostic:</strong> No specific wallet or blockchain requirements.</li><li><strong>Non-Intrusive:</strong> This does not require native chains to make underlying consensus or infrastructure changes.</li><li><strong>Gas-Efficient: </strong>Off-chain computations to minimize on-chain costs.</li><li><strong>No 'Wrapped' or Synthetic Assets:</strong> Transparent transactions without any post-swap exposure.</li><li><strong>Developer-Friendly:</strong> Easily integrated into other products via simple RPC calls or the Chainflip SDK.<br></li></ul><p><strong>Security and Non-Custodial Staking</strong><br></p><p>We share Chainflip's commitment to decentralization and security. Our integration ensures that staking through Chainflip will uphold our stringent security measures, including 100% slashing protection and multiple levels of fail-safes. In the unlikely event that P2P.org faces any challenges, users will retain the ability to unstake their assets seamlessly, maintaining complete control over their digital assets.<br></p><p><strong>Unlocking New Possibilities</strong><br></p><p>This alliance aligns perfectly with Chainflip's ultimate goal of enabling programmatic swapping across all major blockchains. Together, we're making strides toward a future where users can easily, securely, and permissionlessly trade assets across multiple chains, breaking free from the constraints of centralized exchanges.<br></p><p>We are excited to contribute to this promising project and can't wait to see how this partnership evolves. Stay tuned for more updates and features as we gear up for Chainflip's network launch!</p>
from p2p validator
<p>P2P.org is delighted to announce our strategic partnership as large-scale alpha-testers with Obol Network. This collaboration aligns us with a company that shares our vision for revolutionizing the decentralized staking landscape and driving the institutional adoption of ETH staking. <br></p><p>In this blog, we'll explore who Obol Network are, their groundbreaking contributions to Distributed Validator Technology (DVT), and how our united mission and values are redefining the standards for institutional Ethereum staking.<br></p><p><strong>Our Collaboration on Mainnet Alpha Distributed Validators</strong><br></p><p>Alongside Obol Network, we have been an integral part of a pivotal testing phase in the Ethereum staking community. Obol Network launched their Alpha phase in April this year, deploying the first set of Mainnet Distributed Validators initiated by the staking community. With their core team having laid the foundation in December 2022 by deploying the very first Mainnet DV, the participation since April has been nothing short of phenomenal. Over 45 organizations are now running Distributed Validators (DVs) on the Ethereum Mainnet in either solo or multi-org clusters.<br></p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/OjSs_U9tzrjilyZ-liIGwhIU14ut0KYn6P_BgomZrLnile1PYmWE5Oo-4jSthTgotkcaw7GlUO2LPzpfJkDQYQ12VldyBOWPNnnvKISrpZKWAWt7vxgExYJ35igfJCAuoxtaJmRLCEJHqCIrzc34uZg" class="kg-image" alt loading="lazy" width="602" height="339"></figure><p><br></p><p><strong>Who is Obol Network?</strong><br></p><p>The Obol Network is an ecosystem for trust-minimized staking that enables people to create, test, run & coordinate distributed validators, focusing on Ethereum staking solutions. <br></p><p>According to their website, their mission is to foster trust minimized staking through multi-operator validation. This will enable low-trust access to Ethereum staking, which can be used as a core building block in various Web3 products.<br></p><p>With their open-source ethos and commitment to public good, Obol is breaking the norm. Fee collections from Obol V1 will be funneled into retroactive public goods funding, embodying a regenerative circular economics model. In simple terms, Obol is about as trust-minimized as it gets, using advanced cryptography to eliminate the need to trust any single staking operator.<br></p><p><strong>A Deep Dive into the Testing Structure</strong><br></p><p>Our collaborative efforts have also extended into in-depth testing structures. Currently, we're actively involved in deploying distributed validator clusters on the Görli testnet, with varying node counts and scaling up to thousands of validators per cluster. These comprehensive tests assess various key metrics, including the effectiveness of validator duties, missed duties, and inclusion distances, among others. Additionally, the studies are focused on evaluating the operational cost efficiencies of running Distributed Validator clusters and the impact of MEV-boost on these configurations.<br></p><p>Obol Labs, the core research and development team for the Obol Network, is working closely with us and other participants to compile performance reports, making the data accessible for further insights. These collaborative research efforts are pivotal for understanding the cost per validator in different infrastructural setups and assessing the impact of DVT on enterprise validator profitability.<br></p><p>Through this extensive and rigorous testing, both P2P.org and Obol Network are gathering the critical data needed to deploy distributed validators on the Ethereum mainnet with complete confidence. We are committed to helping our partners optimize their infrastructure, better understand DV's capabilities, and share key performance insights with the broader community.<br></p><p><strong>What is DVT? </strong><br></p><p>So, what's all the fuss about Distributed Validator Technology? Traditional validator nodes in the Ethereum network present a critical weakness—they are all single points of failure. Obol DVs eliminate this Achilles heel by allowing multiple nodes to perform the duties of an Ethereum validator as a cluster. This innovation leads to an exceptional boost in resilience, fault tolerance, and—most importantly—security. To illustrate, each node within a DV cluster operates with a key share. Obol's DV middleware, Charon, collects the individual signatures from each node within a cluster and uses threshold signing to generate the full validator signature for attesting and producing blocks. For each cluster, as long as more than 66% of the nodes are live (i.e., 3 of 4, 5 of 7, etc.), the cluster will function normally. Key advantages of DVs include improving fault tolerance, since you can have some nodes down without the validator going offline, and improving security as the full private key never exists in one place, making it exceedingly difficult for attackers to compromise the system. DVT also allows for increased decentralization as operators can now collaborate in multi-operator validation.<br></p><p><strong>Joint Mission and Values between P2P.org and Obol Network</strong><br></p><p>As we transition into this partnership, we must note that our core values resonate deeply with Obol's principles. We both harbor a steadfast commitment to decentralized validation and trust minimization. Our shared focus on transparency, security, and regenerative economics makes this collaboration more than just a business arrangement—a unified vision for the future of Ethereum staking.<br></p><ol><li><strong>Open Source & Transparency:</strong> P2P.org and Obol Network adhere to open-source philosophies. This transparency ensures the broader community can engage, contribute, and benefit from our joint efforts.<br></li><li><strong>Public Good:</strong> Obol's commitment to channeling fees into public goods resonates with our belief in fostering a decentralized ecosystem that benefits everyone, not just a privileged few.<br></li><li><strong>Trust Minimization:</strong> In a world filled with centralized traps, P2P.org and Obol Network are bastions for trust-minimized, decentralized platforms. We aim to reduce reliance on any single operator, making the staking process as secure as possible.<br></li><li><strong>Innovation & Security: </strong>Our collaborative work aims to push the envelope in DVT, improving key distribution, fault tolerance, and geographic redundancy.<br></li></ol><p>By converging our strengths in these areas, P2P.org and Obol Network are collectively accelerating the development and adoption of next-gen decentralized staking solutions. <br></p><p>As always, we pledge to uphold our core values, summarized by the acronym STATS:<br></p><p><strong>Security:</strong></p><p>Our top concern is safeguarding your staked resources and personal information. By utilizing a non-custodial staking model and fortified systems, we aim to provide unmatched security and operational excellence.<br></p><p><strong>Transparency:</strong></p><p>We're committed to being transparent in all our endeavors and governance choices. We consistently disclose essential financial details and project updates to keep our community well-informed.<br></p><p><strong>Asset Rewards:</strong></p><p>Our goal is to amplify returns and value for our clientele. We apply our vast industry know-how to back thriving networks and make informed governance decisions.<br></p><p><strong>Technology:</strong></p><p>We take great pride in our extensive understanding of the staking networks we support, underscored by a staking infrastructure with an average network uptime exceeding 99%.<br></p><p><strong>Smart Governance:</strong></p><p>We're staunch believers in the decentralizing power of blockchain technology, which we see as the cornerstone of the digital age. We act as your proxy within each network, advocating for your interests when you can't.<br></p><p>As we journey through this exciting chapter, we'd like to extend our heartfelt gratitude to our community for their unwavering support. Stay tuned for more updates on this synergistic partnership that promises to redefine what's possible in Ethereum staking.<br></p><p>Join us as we pioneer the future for a more decentralized future for everyone.<br></p>
from p2p validator
<p>P2P.org is thrilled to extend our support for Vara Network, a L1-network built on the top of Gear Protocol. This step reflects our unwavering commitment to nurturing innovation within developer communities and facilitating easy and efficient access to decentralized technologies.</p><p><strong>Vara Network: Transforming Blockchain Development</strong></p><p>Vara Network is built on the top of Gear Protocol technology, a Substrate based smart contract platform which presents a familiar environment for developers, allowing them to create innovative dApps for all industries</p><p>Here are the key highlights of Vara Network:</p><ol><li><strong>Robust Operation and Scalability</strong>: Vara leverages Gear Protocol's technology stack and implements sharding to divide its network into smaller "shards." This approach significantly enhances network scalability as Vara continues to expand.</li><li><strong>Message Delay Functionality</strong>: Vara Network allows users to schedule and execute actions at specific times in the future. This capability proves invaluable for various applications, including decentralized finance (DeFi) and time-sensitive operations.</li><li><strong>Smart Contracts Powered by Substrate</strong>: Vara Network relies on Substrate's framework for its smart contracts, ensuring a solid foundation for decentralized applications.</li><li><strong>Gas Reservation Mechanism</strong>: Vara introduces a gas reservation mechanism, allowing users to allocate computational gas for their transactions in advance. This ensures the prioritized execution of critical transactions, promoting efficiency and timely processing.</li></ol><p><strong>Gear Protocol: Streamlining Smart Contracts with WebAssembly</strong></p><p>Gear Protocol represents a pivotal moment in smart contract development. It provides developers with a Substrate-based platform that streamlines the creation and deployment of decentralized applications (dApps).</p><p>Let's explore the features of Gear Protocol:</p><ul><li><strong>The Actor Model:</strong> Gear Protocol adopts the Actor Model, where each program functions as an independent "actor." These actors process and transmit messages asynchronously, guided by their unique logic. This architecture enables parallel processing, allowing multiple tasks to run concurrently, thereby enhancing scalability and efficiency.</li><li><strong>Persistent Memory:</strong> This feature ensures data accessibility. Persistent memory guarantees the secure preservation of critical data, enhancing network reliability and resilience.</li></ul><p>"Gear Protocol and Vara's groundbreaking approach bridges Web2 and Web3 seamlessly. By simplifying development and enabling focus on messaging, it accelerates blockchain adoption. Vara simplifies the transition from Web2 and Web3 with its features, eliminating complexities and propelling blockchain into the mainstream." - Aleksandr Tishin, Data Analyst at P2P.org</p><p>As one of the first validators and one of the largest non-custodial staking providers, P2P.org plays a pivotal role in securing and advancing the blockchain industry. With a track record of safeguarding over $1.5 billion in assets, our commitment to the blockchain ecosystem is unwavering. We excel in conducting comprehensive due diligence on digital assets, providing top-tier staking opportunities, and establishing valuable partnerships across the DeFi landscape.</p><p>At the core of our mission is the shared vision of an open and decentralized future for all. We firmly believe in the power of decentralized technologies to drive positive change and innovation. Our support for projects like Gear Protocol and Vara Network underscores our dedication to developer communities, simplifying development processes, and fostering easy access to decentralized solutions. As we continue to forge ahead, our strengths as a company lie in our unwavering commitment to the blockchain industry's growth, security, and accessibility, aligning with a world where blockchain technology transforms industries and empowers individuals worldwide. Together with others in the ecosystem, we strive to build a more inclusive and decentralized future that benefits everyone.</p>
from p2p validator
<p></p><h3 id="introduction"><strong>Introduction</strong><br></h3><p>Since 2018, we have dedicated ourselves to creating the pinnacle of secure staking solutions, especially within the Ethereum ecosystem. As of June 2023, our operations span over 50 networks, managing staked assets exceeding $1.6B. Recent enhancements to our Platform bolster our enterprise-level staking service, enabling easy integration for custodians, wallets, and neo-banks through a streamlined API. P2P.org stands as a vanguard in the drive for non-custodial staking at the institutional level, consistently pioneering methods to boost its widespread acceptance.<br></p><p>We're now pleased to announce further enhancements as P2P.org and SSV Network are collaborating to bring an upcoming integration of SSV distributed validators staking within the P2P.org staking platform. This enhancement will become a significant milestone for us, making it easier for institutions to manage their portfolio of digital assets and staking strategies utilizing DVT technologies.<br></p><h3 id="dvt-the-institutional-bridge"><strong>DVT, the institutional bridge</strong><br></h3><p>Our vision is to provide institutional investors, their preferred custodians, and B2B wallets with a single integration point to the staking-related services.<br></p><p>We've been working closely with custodians, self-custody services, and wallets and collected the following understanding of their key concerns:<br></p><ul><li>Being risk-averse, a need for comprehensive controls for all the risks associated with staking, including counterparty and slashing risks, is needed.</li><li>They need the ability to use multiple staking providers based on the staker's preference and decentralization considerations.</li><li>They have little appetite for maintaining multiple integrations with these providers, so ease of use and integration are critical.<br></li></ul><p>DVT technology represents an excellent opportunity to create a compelling offer for institutional investors that would address these needs. Once integrated with SSV, the P2P.org staking platform will also receive an additional differentiation that will help its positioning as a single integration point across various staking services, including direct and liquid staking across multiple networks and DVT-based staking. <br></p><p>While many can only offer staking across various providers as a part of a liquid staking option, P2P.org will provide a unique opportunity to stake directly to multiple institutional node operators.<br></p><h3 id="considering-institution-requirements"><strong>Considering institution requirements</strong><br></h3><p>Institutional staking solutions need to reflect important aspects of how hedge funds, VCs, Family Funds, and other similar entities operate in various technical and legal environments:<br></p><ul><li>Funds are typically managed via custody, a B2B wallet, or a crypto-friendly bank.</li><li>These intermediaries would typically be very risk averse and require explicit controls for counterparty risk, slashing risk (e.g., insurance), and legal risk, including OFAC compliance with the MEV relays.</li><li>They would often employ highly skilled professionals requiring control of the specific MEV relays in use and access to quasi-real-time monitoring.<br></li></ul><p>With these points in mind, we envision the Platform built with the following approach:<br></p><ul><li>API first: building for easy integration with the custodians and wallets</li><li>Whitelisted node operator set: Pick the locations and partners that would be capable of supporting each specific institutional requirements</li><li>Built-in reporting capabilities for better tax reporting and rewards management for their specific jurisdictions<br></li></ul><h3 id="payment-simplification"><strong>Payment simplification</strong><br></h3><p>SSV Network operates on a tokenomics model where SSV tokens are essential for availing the validator services. On the other hand, institutional stakers are familiar with two prevalent fee structures: monthly billing and an automatic deduction of validator fees from their cumulative staking rewards. In the latter case, stakers receive slightly diminished rewards, for instance, 95% of the total if there's a 5% validator commission, ensuring a hassle-free payment process for the validator.<br></p><p>P2P.org will keep this arrangement as much as possible within the SSV integration, so we must navigate the discrepancy between the clients' preferred pay method and the SSV tokenomics model.<br></p><h3 id="only-trusted-operators-need-to-apply"><strong>Only trusted operators need to apply</strong><br></h3><p>Due to the Platform's emphasis on institutional needs and the additional demands this places on node operators, we anticipate that the Platform will function with a pre-approved list of node operators, at least in the immediate to medium future. The P2P.org team will oversee the management and integration of node operators, drawing from the expertise we've gained through various partnerships with similar technical requirements. <br><br>Essential criteria for node operators will encompass the following:<br></p><ul><li>Reputable providers with proven track records for managing large amounts of stake and working with institutions</li><li>High-performance track record, as measured by rated network or similar tools</li><li>Consent to operate with the standard SSV fees assigned by the Platform</li><li>Commitment to providing the infrastructure that would be diversified geographically, as well as client software-wise, and MEV relay-wise</li><li>Potentially, commitment to providing slashing insurance<br></li></ul><p>In the future, node operator participation can be opened to a broader group of node operators.</p>
from p2p validator
<h3 id="why-should-you-migrate">Why should you migrate?</h3><p>The Graph has decided to move the protocol to Arbitrum since gas fees are smaller for all operations there, including delegating & claiming query fees.</p><p>Many query fees on Ethereum remained unclaimed as it was more expensive to claim than their value. As it is cheaper to claim them, delegators will finally have additional revenue to their stake with indexers.</p><h3 id="what-is-the-migration-schedule">What is the migration schedule?</h3><p>At the moment of writing, 5% of the total rewards of the protocol issuance happens on Arbitrum, while 95% of the rewards are still being distributed on Ethereum.</p><p>Sometime around September 10th, a shift to 25% / 75% distribution is expected.</p><p>If everything goes well, 2-4 weeks after that, the distribution will be changed to 50%/50%.</p><p>As soon as enough stake will migrate to Arbitrum, the distribution will change to 95% Arbitrum / 5% Ethereum.</p><h3 id="when-is-it-better-to-move-your-delegation">When is it better to move your delegation?</h3><p>We have prepared a dashboard to help you make data-driven decisions and maximize your revenue during migration.<br><br><a href="https://reports.p2p.org/superset/dashboard/153?ref=p2p.org">https://reports.p2p.org/superset/dashboard/153</a></p><p>We have prepared the best date for you to start the process on this dashboard.<br></p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/qUGx-xI_6MnHMqd4G5ckGvDX6uARjJQtN-YD_QivM-Cb-KteAGwpx6n-RPXY_PE_nJLddxTQbX4bduqsUP8qE9n4OT2BLarTN4LtblrZFiKWb9Gkj6eWdWMy-NaLXLEbnPAKtrjSUYKmovoXwPz3FLA" class="kg-image" alt loading="lazy" width="602" height="104"></figure><h3 id="how-was-this-date-picked">How was this date picked?</h3><p>Below the dates, you can see our currently opened allocations on both indexers. You get your rewards when we close those allocations. So, if the allocation is open for 20 days, those rewards are stored on the smart contract, and when we close the allocations, the rewards for these 20 days are assigned to your address. The recommended days are when you get most of the rewards from L1, thus making you ready to move to L2.</p><h3 id="will-my-unclaimed-rewards-be-transferred-as-well">Will my unclaimed rewards be transferred as well?</h3><p>Yes.</p><h3 id="how-can-you-start-the-migration-process">How can you start the migration process?</h3><ol><li>Go to <a href="https://thegraph.com/explorer?ref=p2p.org">https://thegraph.com/explorer</a> and connect the wallet with your current delegation in the top right corner.</li><li>Expand the menu in the top right corner and click on the overview button to look at the general stats of your activity within The Graph.</li><li>There, you will see a notification that gives you an option to start the migration process</li></ol><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/14C-CDwh80UFsHSiO3MOV9lrdpjuPSOhdUmY7pFe7pQwDKjMoerTcWP-szx0KdIazxtgGnVkRoqZhM5aTs7U7QzoDO-MhNMTT0kVtYMbgQrHVZcAA8ur09tsfRunqGeJNj57axOBLbmoeMAgV0Yf-Fw" class="kg-image" alt loading="lazy" width="602" height="220"></figure><p>4. Click on the Transfer Delegation button. You will end up on this page:</p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/QAx84LQZXVPlUVw9-j1a6q_xVv57os8qvZg8NrrzXnybM4PBbWeTPZC80xb3KtVdPEy-W3X5tnFzpHBiw2Vwlv0FypEXFkYUgM6w9mOPWuiwYxUxShMfy0ca4QoATOVJVu1ATS_hsKGnxBfbJ4O7Qk4" class="kg-image" alt loading="lazy" width="602" height="383"></figure><p>5. The Receiving Arbitrum One Wallet Address will be pre-filled with the same address as your current Ethereum wallet.</p><p>a) Make sure that you control that Arbitrum address!<br>If that is an EOA (a common wallet labeled as “Address” in etherscan), you are good to go unless you want to specify another wallet address.</p><p><strong>b) <strong><strong>IF YOU ARE USING SAFE OR OTHER SMART CONTRACT WALLET, THEN YOU PROBABLY NEED TO CHANGE THE ADDRESS IN THE RECEIVING ARBITRUM ONE WALLET ADDRESS</strong></strong></strong></p><p> ! Your Safe Wallet is a SMART CONTRACT! Thus, you most likely don’t control this contract address on Arbitrum. So, change this field to the address you control! It can be another Safe or smart contract wallet on Arbitrum and a regular EOA address, but make sure you own it!</p><p>6. It is better to send some ETH to this wallet address via the official Arbitrum bridge <a href="https://bridge.arbitrum.io/?ref=p2p.org">https://bridge.arbitrum.io</a> if you don’t have ETH there to pay for gas. <em>Optional</em>: To ensure you control this wallet, you can make some transactions there, no matter which. Remember that the migration process can not be reverted, so sending the tokens to an address you do not control will lose them!</p><p>7. Push the transfer delegation button. Your transfer will be initiated.</p><figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/MU3ceFGFV9DI_MDMwdSgBjzAQmSRux49rLytrVZwkvHopczlkRYwaKXAt6VES9v_x7kDP9kV3PaymD5XXtDkCD6Bn37D5WtLqRSJOi9t8CrKXDVFGGeIYAm7OeHfRbtM2wkJYzMJXHDFjDgtFD3VhhA" class="kg-image" alt loading="lazy" width="602" height="408"></figure><p><br>8. You will see the countdown appear. It is better to stay nearby as the network can have gas spikes, and some additional actions might appear on the left part of the screen. After the countdown reaches 0, the migration will be completed.</p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/HRE4texsUIJnS0Km0gVESmzpW2BsGn2PFq9RYSuupufPXwCnD4eknyVLY6XmXievJElDvHwWrXI77_1N7PM16dfU6DpWy9fFActnfu_Dbv0qai7lc7A-vFUa_kLNMECbhU0HtHoJk4rnnhfwQLCfzVw" class="kg-image" alt loading="lazy" width="602" height="332"></figure><p>There is also an official guide by The Graph Foundation with videos so that they might be helpful.<br><br>In any case, if you have any questions, feel free to ask them on our P2P telegram chat: <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p><p>And remember, no one from P2P.org or The Graph Foundation will DM you first! It is better to verify the identity of any person talking to you in the official telegram chat.</p><p><br><br></p>
from p2p validator
<p></p><p>As part of our ongoing effort to support Institutional demand and the needs of large ETH stakers, P2P.org has developed a new smart contract that allows true large scale stake of up to 12,800 ETH in a single transaction. (you can find the audit report by @MixBytes <a href="https://p2p.org/networks/ethereum/staking/audit.pdf?ref=p2p.org">here</a>).</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-text">smart contract address: <a href="https://etherscan.io/address/0x8e76a33f1aFf7EB15DE832810506814aF4789536?ref=p2p.org">0x8e76a33f1aFf7EB15DE832810506814aF4789536</a></div></div><p>This groundbreaking technology is just one of the many pillars supporting our innovative non-custodial staking platform. It allows users to have set fees agreed upon before you stake via MetaMask, Ledger & Safe. <strong>This new feature allows true institutional staking without boundaries. </strong></p><p><strong>Breaking the industry norms which currently only allows a user to stake up to 3,200 ETH from a wallet in a single transaction.</strong><br><br>We received tens of questions about the purpose of the 3200 $ETH limitation. At that moment, we realized how inconvenient that standard was. It needed to be fixed. The service is meant to be simple and user-friendly!<br>Imagine: You want to stake 12 thousand ETH and you used to have to make 3 transactions. You pay for gas. Plus, it is especially inconvenient if you have multisig. Less transactions - better. It's easy to make mistakes and lose money when you're signing the fifth transaction in a row<br><br>We have solved these problems. Now we have truly institutional stake feature. 12k ETH per one transaction. One click staking. It should be as simple as that.<br><br>But truly institutional staking means something else. It’s big. True. But it’s <strong>SIMPLE AND FAIR</strong>, too!</p><p>Unlike others, we won't overcharge you as your Ethereum rewards grow. Our fee is precisely agreed upon, on-chain. You won't be overpaying and it allows you to stake confidently with all the clarity.</p><p>Context: There are two revenue streams in Ethereum, consensus rewards for performing validators duties like attestations and execution rewards for proposing blocks (the last one part includes MEV as well). And popular approach nowadays is to place proxy smart contract witch accumulates executions layer rewards (EL) and charge some % - like 25-35% from EL rewards. It's simple one.</p><p>BUT proportion between CL / EL rewards isn't stable. Our research shows that while you paying 30% from EL it quals 8% from total rewards in average. BUT since you may be lucky and get more blocks to create / large MEV you are at risk to be overcharged and pay up to 10-11% fee from total rewards. </p><p>That's not fair! It's difficult to choose the staking option while you don't know which exact conditions you are agree on. 8% or 11%? </p><p>So we created the oracle that knows how many CL rewards you got and calculate how many $eth we should charge you from El rewards in order to get exact % from total rewards. With P2P you will pay exact percent we agreed on. No less, no more.</p><p>You need this type of convenience and safety when staking large amounts of $ETH!</p><p><strong>We've reimagined large-scale ETH staking, simplifying the process and offering considerable savings in both time and money. </strong><br><br>Where others might vary their fees or give complex conditions, we stick to clarity and transparency. Our smart contract ensures that the exact % agreed upon is charged from your rewards. No hidden fees. No ambiguity. Only absolute transparency.</p><p><strong>How P2P.org is simplifying Institutional staking</strong></p><p>For our users, you can now manage and stake upto 12,800 ETH within one single session, providing a seamless user experience. You'll also notice enhanced functionalities, accommodating the 12.8k ETH deposit smart contract, ensuring a smoother user experience.</p><p>Additionally, our personalized dashboard is crafted with the user in mind, centralizing all vital data in an intuitive interface, making asset management truly effortless. Moreover, our comprehensive reporting capabilities let you delve deep into your staking history. Track rewards, assess strategies, and glean insights using a multitude of data points, ensuring you're always in the driver's seat of your digital journey.</p><p>At P2P.org, we remain committed to ensuring true ownership of a user's digital assets and providing users with a genuine decentralized non-custodial staking experience. With this in mind, we always aim to be ahead of the curve, bringing innovative solutions and products to our ever-growing platform. With the introduction of our new smart contract, we've taken a significant step in ensuring that institutional staking is efficient and user-friendly. </p><p><strong>Key Takeaways:</strong></p><ul><li>Efficiency: Reduce operational overheads by cutting down the number of transactions needed.</li><li>Transparency: No more ambiguous fees. You're charged the exact agreed-upon percentage, ensuring clarity and trust.</li><li>Flexibility: Available on the most trusted and popular non-custodial staking wallets, MetaMask, Ledger & Safe Wallet.</li><li>Forward-Thinking: Designed with future smart contract upgrades in mind, ensuring longevity and adaptability.<br>Ready to elevate your staking game? <strong><em><a href="https://p2p.org/networks/ethereum?ref=p2p.org">Stake now or Book Call</a></em></strong></li></ul>
from p2p validator
<p>Since our inception, P2P Validator has been a staunch supporter of the Polkadot network, continuously striving to offer top-tier validation services. Our suite of developed products empowers nominators, making it convenient for them to manage their investments and gain insights into their staking returns.</p><p>Our commitment to the Polkadot network and its canary network, Kusama, remains strong, and we see immense long-term potential. However, as these networks grow and evolve, so do the challenges associated with maintaining their robustness.</p><p>To keep pace with these developments and ensure that we can sustainably deliver the quality and reliability you've come to expect, we will be implementing a fee revision.</p><p><strong>Upcoming Commission Rates from August 25, 2023:</strong></p><ul><li><strong>Polkadot (DOT)</strong>: Our commission will be adjusted to <strong>4.5%</strong>.</li><li><strong>Kusama (KSM)</strong>: Our commission will be set at <strong>15%</strong>.</li></ul><p>These modifications are essential for us to remain agile, enhance our services, and further contribute to the development of both the Polkadot and Kusama networks.</p><p>We understand that fee adjustments can raise concerns, and we assure you that this decision wasn't made lightly. It's a necessary step to ensure the continued excellence of our services and the prosperity of the Polkadot and Kusama networks as a whole.</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 in accelerating the growth and capabilities of both networks.</p><p>A heartfelt 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><strong>Exclusive Offer for 20,000+ DOT Holders</strong></p><p>For those who have staked 20,000 DOT or more, you can take advantage of our P2P rebalancing service. This tailored service not only ensures you're getting the most out of your stake but also outperforms with returns that are up to 20% higher than the network's average.</p><p>For a deeper dive into what we offer for Polkadot stakeholders, please visit <a href="https://p2p.org/networks/polkadot?ref=p2p.org">https://p2p.org/networks/polkadot</a>.</p><p>Queries or thoughts? Our <strong><a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram chat</a></strong> is always open for conversations. We prioritize open communication and look forward to hearing from you.</p>
from p2p validator
<p></p><p><strong>Introduction</strong><br></p><p>P2P.org, are excited to reveal our latest collaboration as a validator - stepping into the influential role of Mainnet Verified Operator for the SSV Limited Mainnet Launch. This significant stride enables us to directly contribute to the implementation of Distributed Validator Technology (DVT) and bolster Ethereum's decentralized staking landscape.<br></p><p><strong>P2P.org as SSV Network Mainnet Verified Operator</strong><br></p><p>P2P.org’s involvement in SSV network as a Mainnet Verified Operator (MVO) isn't just a mere participation; it's an active contribution to shaping the future of decentralized validation inline with our vision for a more decentralized future for all. <br></p><p>Currently, the SSV Network is in a limited launch, where only verified operators are contributing to the launch, and stakes originate from the SSV core team. This phase ensures that the system undergoes rigorous testing and refinement, laying the foundation for a more extensive and inclusive public launch.<br></p><p>The public launch is set for an early Q4 launch, but several crucial steps must be completed to ensure that the SSV Network is ready for widespread use such as the essential process of bringing validators onto the network. This step is pivotal in building the network's strength and readiness for public participation. After that, P2P.org will analyse the performance within the network to see where improvements can be made as a validator. Our relentless focus on excellence during this period sets us apart and will play a key role in defining our contribution to the SSV Network.<br></p><p>As a MVO, P2P.org & SSV Network are set to redefine Ethereum staking with the integration of DVT into the P2P.org platform. This integration propels our value proposition to institutional investors, framing us as the go-to platform for a diverse suite of staking services. <br></p><p>Ethereum staking, historically, has posed a daunting challenge to those wanting to set up validator infrastructure, due to its necessity for niche knowledge and extensive time commitment to manage validators. Consequently, many stakers prefer to delegate the staking process to infrastructure providers like us. While this approach has proved fruitful on other networks, Ethereum's staking process continues to be intricate. DVT strives to resolve these intricacies, instilling trust and bolstering security by decentralizing validator responsibilities and key management duties among multiple operators.<br></p><p>P2P.org's status as a Mainnet Verified Operator with SSV Network is due to several key assessment criteria, notably, operations experience such as being active for over 90 days in testnet, above average performance, client diversity and runs nodes on other chanis. P2P.org meets this criteria and our experience has been reinforced by our successful testing on the Jato v1 testnet, and subsequently, the Jato v2. The latter serves as the current testnet and the last pitstop before the mainnet. Our readiness for the mainnet launch, in terms of infrastructure and operator performance, is impeccable. Our performance statistics reflect our standing as one of the top performers among SSV operators, as seen here: <a href="https://goerli.explorer.ssv.network/operators/30?ref=p2p.org">https://goerli.explorer.ssv.network/operators/30</a>.<br></p><p>As we prepare for the mainnet launch, we're eagerly looking forward to the integration of Maximum Extractable Value (MEV) by the SSV team. This is the final piece of the puzzle that will complete our DVT offering and boost its functionality. The integration of MEV will ensure optimal staking performance and profitability, cementing our position as a frontrunner in the DVT revolution.<br></p><p>Our progress and readiness underscore our commitment to providing innovative staking solutions, promising a smooth transition into the new era of decentralized staking. <br></p><p><strong>DVT and the Future of Decentralization</strong><br></p><p>DVT enhances Ethereum's security and optimizes staking operations. The architecture of Ethereum's staking requires each validator node to lock 32 ETH as collateral to earn rewards. The node's collateral can be slashed as a penalty for unethical behaviors such as transaction manipulation. However, slashing is typically due to operational risks including poor key management or failing to sign transactions. DVT mitigates these risks by improving validator redundancy.<br></p><p>The trustlessness of the staking process, an essential feature of blockchain technology, is also enhanced by DVT. Although the traditional outsourcing of staking to infrastructure providers is non-custodial, there is still an inherent level of trust required. DVT reduces this need for trust by distributing key management duties and validator responsibilities.<br></p><p>For investors beginning with ETH staking, the limited diversification in terms of setup and providers can be discouraging. DVT addresses this concern by enabling clients to diversify their staking provider portfolio, thus reducing operational risks.<br></p><p><strong>P2P.org's Core Values as a Mainnet Verified Operator</strong><br></p><p>As a Mainnet Verified Operator, we pledge to uphold our core values, summarized by the acronym STATS:<br></p><p>Security: We prioritize the protection of your staked assets and personal data. Our non-custodial staking capabilities and secure infrastructure ensure maximum security and performance.<br></p><p>Transparency: We commit to maintaining transparency in our actions and governance decisions. We share all pertinent financial and project-related data with our community.<br></p><p>Asset Rewards: We aim to maximize value and high returns for our clients by leveraging our industry expertise to support successful networks and execute smart governance.<br></p><p>Technology: We pride ourselves on our comprehensive knowledge of supported staking networks and our high-performing staking infrastructure, which boasts an average network uptime of over 99%.<br></p><p>Smart Governance: We firmly believe in decentralization and the potential of blockchain to form the digital world's foundation. We represent your interests within each network when you're unable to do so.<br></p><p>By embracing the role of Mainnet Verified Operator and leveraging DVT's benefits, we look forward to fostering a more secure, efficient, and decentralized Ethereum staking ecosystem. As we embark on this journey, we thank you for your continued trust and support. Join us as we chart the path to a more robust and resilient staking experience for Ethereum.<br></p><p><strong>What does this mean for the future of staking?</strong><br></p><p>ETH staking inherently involves risks associated with dependence on a single provider. While the provider performs staking operations, the staker can face significant operational risks, as well as slashing penalties inherent in the Ethereum network's staking mechanism. At P2P.org, we have always strived to minimize these risks with slashing protection that offers maximum staking coverage, and now with DVT, we can extend this protection further to our clients.<br></p><p>Our protective measures include an 80% slashing coverage as default and an option for a 100% slashing coverage. For clients staked with 320+ ETH, we ensure coverage of slashed amounts from our fund limited by 12 months of P2P-related service fee, in the unfortunate event of a slashing occurrence. Our insurance covers 80% of slashing incidents with a higher limit of $3.5M, while a premium plan provides 100% coverage with no limits. To date, we have a record of zero slashing events and offer five technical levels of slashing protection along with customized slashing coverage options.<br></p><p>DVT offers an innovative approach to tackle these risks by enabling users to diversify their staking provider portfolio. This strategy dramatically reduces the impact of downtime or failures associated with a single provider, making DVT a compelling proposition for institutional adoption of ETH staking.<br></p><p>From a security standpoint, DVT reimagines staking by partitioning the staking private key, storing different segments with various providers, thus thwarting unauthorized access. It also mitigates the risk of validator mismanagement leading to slashing penalties and loss of staked ETH. It achieves this by distributing the duties of a single validator amongst a network of nodes that must reach consensus before signing any message, significantly improving validator redundancy and slashing protection.<br></p><p>While operating ETH staking validators, achieving a balance between performance and security often poses a challenge. Slashing penalties are a constant threat, while compromised keys pose significant security risks. DVT addresses these concerns by enhancing resilience against failures, attacks, and operational risks, effectively optimizing both performance and security.<br></p><p>Furthermore, DVT's influence on staking Annual Percentage Rate (APR) is encouraging. Early tests suggest that DVT setups can match the validator effectiveness of traditional setups, with the prospect of even further improvements on the horizon. DVT setups with SSV and Obol have demonstrated reliable and accurate attestations, underscoring the effectiveness and potential of DVT.<br></p><p>In conclusion, DVT is an influential tool in transforming the staking process, reducing risk, and enhancing performance and security. As we continue to advocate for and adopt DVT, we invite you to join us on this thrilling journey towards a new era of decentralized staking.<br></p>
from p2p validator
<p></p><p>P2P.org is thrilled to announce the release of our latest feature, the Staking API. </p><p>Our new product lets you kickstart robust staking solutions as part of your own product offering, backed with comprehensive analytical tools, providing unparalleled insights into staking activities and volumes. </p><p>Additionally, powerful dashboards, enriched with granular data, enabling informed decision-making and better strategies for your teams. These analytical capabilities simplify tax and financial obligations, ensuring compliance while keeping you on top of your staking strategy for your users. Let's jump into some of the key features.<br></p><p><strong>A Gateway to Robust Infrastructure</strong><br></p><p>P2P.org's Staking API isn't just a new feature to our already robust portfolio of tools and services. It's a gateway to a high-performance validator infrastructure for your business. Staking API offers a seamless avenue to stake assets on our industry leading platform.<br></p><p><strong>Unsurpassed Security</strong><br></p><p>Security is always our number one priority. We've designed the Staking API with security measures that surpass industry norms, stringent Service Level Agreements (SLAs), comprehensive slashing protection, and various insurance options. Additionally, we've gone a step further by creating a unique insurance bundle that combines traditional insurance policies, blockchain-based alternative insurance, and an internal P2P.org treasury fund, providing optimal protection for your stakes.<br></p><p><strong>Simplicity at Its Best</strong><br></p><p>Staking API is user-friendly and readily accessible, thanks to comprehensive documentation, multi-language code examples, and a straightforward workflow. We've taken extensive measures to simplify staking, enabling easy navigation of the DeFi ecosystem.<br></p><p>You can review the API documentation here: <a href="https://docs.p2p.org/docs?ref=p2p.org">https://docs.p2p.org/docs</a> <br></p><p><strong>Unparalleled Support</strong><br></p><p>We're committed to delivering excellent customer service at P2P.org. With dedicated private Telegram chat support and round-the-clock node monitoring, we're always here to assist you on your staking journey and integration requirements to get you set up with ease.<br></p><p><strong>Tailored Staking Strategies</strong><br></p><p>With our Staking API, you can customize your staking strategy to suit your unique needs. Advanced node configuration lets you define node requirements, location, MEV relay, and much more. This flexibility enables a personalized staking experience tailored to your preferences and helps you build a tailored staking strategy to meet regulatory needs in an ever changing environment.<br></p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/BjYDwz4hMQ8c1cAtVbZ64PoqjvWCsjCVOL883p9P52W0V0vW0LRoYfuoDF4zwox-5UPBVKfeNqURqlLi4zZo1UwWTIAAyGx9iGPFVszBgpNpnCEi_NKmItXC1D1pZlrGZr_nOwPEUiI7_mko_kqY-SA" class="kg-image" alt loading="lazy" width="568" height="358"></figure><p><strong>Comprehensive Analytical Tools</strong><br></p><p>In the age of big data, having comprehensive analytical tools at your fingertips can be a game-changer. Our Staking API delivers just that. Its insightful dashboard provides granular data about your staking activities and total volume, supported by real-time monitoring via our Data API. This powerful feature keeps you informed about the status of your assets at all times, allowing you to make data-driven decisions.<br></p><p><strong>Easy Integration for Greater Innovation</strong><br></p><p>For busy teams, time is always of the essence and a valuable commodity to any company. That's why we've designed our Staking API for quick and easy integration. Our thorough API documentation includes multiple code examples to expedite your integration process. Easy-to-follow guides allow your development team to get to grips with our integration requirements easily and efficiently.<br></p><p>Staking API isn't only about ease of use, it's also about flexibility. A single integration allows clients to streamline all their networks, saving substantial time and resources. This added convenience accelerates your product offering, letting you focus on business goals and growth.<br></p><p><strong>The Future of Staking</strong><br></p><p>Our mission is to propel a decentralized future, rooted in our conviction that custodians, wallets, and exchanges should not just observe, but actively participate in this transformational era for both crypto-native and traditional finance businesses. By providing a platform that opens a gateway to the immense potential of staking, we're enabling you to take a pivotal role in shaping the future of decentralized finance. With our Staking API, you can provide staking services to your customers, diversify your staking strategies, increase your revenue streams, and simplify integration processes across different networks.<br></p><p>With P2P.org's Staking API, we are elevating the staking space, providing an all in one solution that is powerful, secure, easy to use, and adaptable to your needs. We invite you to join us on this exciting journey as we continue to shape the future of staking, turning passion into performance at P2P.org. <br></p><p>To discover more, please book a demo with our team <a href="https://p2p.org/products/api?ref=p2p.org#contact-us">https://p2p.org/products/api#contact-us</a> <br><br><br><br></p>
from p2p validator
<p>A virtual machine functions like a physical computer, allowing applications and operating systems to be run on it. The largest smart contract development platform, the Ethereum Virtual Machine (EVM), utilizes the computational power of a network of nodes distributed worldwide.<br></p><p>The Ethereum network is by far the biggest and most popular smart contract network, so there is immense utility in developing EVM-compatible applications. By creating an EVM-compatible blockchain, a lot of developer attention can be captured, allowing some of these dApps to be ported over from the Ethereum network.<br></p><p>Neon EVM is an Ethereum virtual machine on Solana, developed by Neon Labs, that allows Ethereum-based smart contracts and dApps to take advantage of Solana native functionalities. <br></p><p><strong>Neon EVM</strong><br></p><p>The Ethereum virtual machine (EVM) does not exist as a tangible machine but as an entity maintained by all the nodes running the Ethereum client. More than a decentralized ledger typically used to define blockchains, the EVM defines the rules by which changes happen from block to block. In essence, the EVM functions as a decentralized computer which allows smart contracts to exist on the Ethereum Network. From DeFI to games and other dApps in the ecosystem, the EVM allows these to function.<br></p><p>While Ethereum bolsters the biggest on-chain economy of any blockchain, gas fees and transaction speeds can be counterproductive to the development of its ecosystem. In comparison, Solana allows users to transact at low cost and at faster rates thanks to its ability to process transactions in parallel. A highly optimized EVM chain can process up to 1,500 transactions per second (TPS), whilst Solana can reach upwards of 50,000 TPS.</p><p>One of the challenges when developing a blockchain ecosystem is attracting developers to work on it. The difference in programming languages and developing tools used by both chains makes porting popular Ethereum-based applications to the Solana network a difficult task. By making Solana EVM compatible, Ethereum developers can make use of their already existing code base and expertise on the Solana network.<br></p><p><strong>How does Neon EVM work?</strong><br></p><p>Neon EVM is an on-chain solution that works by wrapping Ethereum-like transactions into Solana transactions and then sending them to the Solana network. One of Ethereum's limiting factors is how transactions are processed. Solidity smart contracts need to be executed sequentially so that only one contract at a time can modify the blockchain state.</p><p>In contrast, Solana allows for parallel execution of transactions through a functionality called Sealevel, which uses as many cores as are available to the validator. Because Solana transactions describe all the states a transaction will read or write during its execution, they can be processed in parallel, thus avoiding unwanted overlaps.<br></p><p>Neon EVM enables any Ethereum native application to run on Solana without requiring any changes to its codebase. Developers can continue to write smart contracts in Solidity, and users can continue to use MetaMask. Anyone using Neon EVM can port over Ethereum transactions to Solana. This approach allows popular applications such as Uniswap, Curve and MakerDAO to be built natively on Solana with much less friction and resources. This reduces development requirements and time savings while granting access to Solana's large liquidity. <br></p><p><strong>What are Neon EVM key features?</strong><br></p><ul><li>For each Solana token, an <strong>ERC20 SPL-Wrapper</strong> contract can be deployed and Ethereum wallets such as Metamask can be used to transfer funds in Solana tokens.</li><li>The <strong>ERC20 SPL-Bridge</strong> can generate a Solana token representing the corresponding ERC20 token in the SPL-token contract.</li><li>Neon EVM operators can be paid in an ERC-20 token designated by the user for completing transactions, which adds an extra layer of flexibility.</li><li>Gas consumption is done according to Ethereum rules.</li><li>Neon EVM keeps track of any hard forks and upgrades on Ethereum and Solana. This is a crucial aspect since any potential changes to the network codebase could be disruptive.<br></li></ul><p><strong>Neon Web3 Proxy</strong><br></p><p>Neon EVM Proxy operators are key players in the Neon EVM ecosystem. They run special servers, known as Neon Proxies, that enable Ethereum-based applications (dApps) to function seamlessly on the Solana network with minimal reconfiguration. The primary task of a proxy operator is to set up and manage these Neon Proxy servers. They provide an interface that accepts transactions formed according to Ethereum rules, transform Ethereum-like transactions into a series of Solana transactions, and ensures these transactions are successfully executed on the Solana network, enabling dApps to benefit from the speed and efficiency of the Solana network.<br></p><p>Neon EVM proxy operators are crucial in enabling Ethereum-based applications to run smoothly on Solana's network. As they manage Neon Proxy servers, they incur transaction costs on Solana, paid in lamports, for executing the Solana portion of Neon EVM users' transactions. To compensate for these costs, Neon EVM automatically retrieves an equivalent amount of ERC-20 tokens from the users plus a small additional fee, which is shared between the operators and the Neon treasury. Initially, users will only pay these fees in Neon tokens, but as per the project roadmap, they will eventually be able to choose from any supported ERC-20 tokens. While these fees are minimal from a user's perspective, they can accumulate to a significant sum for proxy operators, depending on the number of Neon EVM users and their activity level. Therefore, this fee structure covers the operational costs of the proxy operators and serves as a revenue stream for the Neon proxy operators and the Neon DAO treasury, making it a pivotal part of the Neon EVM economy.<br></p><p><strong>Why is P2P.org working with Neon Labs?</strong><br></p><ol><li>P2P.org endorses Neon EVM and supports its crucial role as a proxy operator, enabling Ethereum-like transactions to be efficiently executed on the Solana network. Recognizing the importance of cross-compatibility, P2P.org provides a robust infrastructure to facilitate the smooth operation of the Neon EVM, thereby ensuring seamless interaction of Ethereum-based applications on the Solana network.</li><li>P2P.org backs Neon EVM as it empowers Ethereum developers to build brand-new blockchain products, only possible on Solana, with much less friction and resources using familiar tools, such as Ethereum wallets and Solidity smart contracts. We believe that Neon EVM widens Solana's appeal, stimulates advanced dApp development, and fuels broader network adoption and evolution of DeFi space. In promoting competition across networks, P2P.org aims to drive the creation of superior end-user products.</li><li>Aligning with P2P.org's mission to increase blockchain technologies adoption and enhance user's DeFi experience, Solana-based Neon EVM's high throughput, low transaction costs, and user-friendly features, such as choosing a wrapped ERC-20 token for fee payment bring more flexibility, adaptability, speed, and a superior user experience to the blockchain ecosystem.<br></li></ol><p><strong>How Neon EVM could benefit the Solana ecosystem</strong><br></p><ul><li><strong>Drives liquidity</strong>: Neon EVM could create an additional inflow of liquidity to Solana, enhancing the robustness of its financial ecosystem.</li><li><strong>Expands user base</strong>: bringing existing large Ethereum DeFi protocols to Solana can significantly increase its user base, enabling users to leverage their established understanding of these protocols in a new environment.</li><li><strong>Promotes cross-compatibility:</strong> Neon EVM, by transforming Ethereum-like transactions for execution on the Solana network, contributes to enhancing the cross-compatibility between different blockchain protocols. This fosters a more interconnected and efficient blockchain ecosystem, paving the way for a more cooperative future in the decentralized world.</li><li><strong>Enhances dApp development</strong>: it enables the development of new high-load and sophisticated dApps on Solana using familiar tools. This opens up new possibilities for applications that can leverage Solana's high transaction speed and low costs.</li><li><strong>Boosts developer flexibility</strong>: Neon EVM provides more flexibility for smart contract developers, enabling them to deploy Ethereum-compatible applications on Solana without altering their codebase.</li><li><strong>Enables scalability: </strong>by leveraging Solana's ability to process transactions in parallel, Neon EVM provides an environment where Ethereum applications can be deployed and scaled effectively. This enhancement in performance is opening new avenues for the existing Ethereum protocols to operate at greater capacities.<br></li></ul><p><strong>Projects that are supporting Neon EVM</strong></p><ol><li>Sobal: Sobal is a project focused on forking the Balancer V2 protocol for deployment on Neon EVM. After thorough testing on Devnet, Sobal is advancing to the Neon EVM on Solana Mainnet.</li><li>Elk Finance: As a decentralized cross-chain liquidity network, Elk Finance enables users to conduct token trades and earn rewards.</li><li>Lever Finance: Acting as a multifunctional decentralized platform, Lever Finance offers leveraged trading, liquidity provision, farming, lending, and borrowing in the DeFi ecosystem.</li><li>Thetanuts: Thetanuts Finance is a front-runner in DeFi structured products protocol designed to generate diverse, organic yields. The platform caters to DAOs for treasury management and aids retail traders in earning organic yields on their assets.</li><li>DxSale: DxSale, a decentralized launchpad, can conduct token crowd sales with zero coding. It offers features such as presale setup and decentralized locking.</li><li>Protofire (Safe): Protofire, a development partner of Gnosis Safe, has helped develop the technology behind Gnosis Safe Multisig—a customizable Ethereum-based crypto wallet. This wallet allows access to DeFi apps and secure asset management through multi-signature confirmation requirements.</li><li>Robonomics: Robonomics is a unique open-source platform for IoT applications. It facilitates the exchange of technical and economic information through atomic transactions among user applications, IoT services, and robotics.</li><li>Kana Labs: Kana Labs offers a DeFi super app designed to demystify DeFi for all users. The app allows users to send/receive tokens, swap, stake, lend, and borrow across multiple blockchain networks such as Solana, Aptos, Neon, and Polygon.</li><li>xDAO: xDAO provides an easy-to-use platform for creating and managing decentralized autonomous organizations (DAOs) and the joint management of crypto assets.</li><li>Moraswap: MoraSwap, the first automated market maker (AMM) built on Neon EVM, brings high-speed, low-cost transactions to its users.</li><li>Powerpool: Powerpool is a unique protocol that allows governance token (GT) holders to lend, pool, borrow GTs, and generate income from it.</li><li>GhostNFT: GhostNFT is at the forefront of the NFT 2.0 standard, which enables asset-backed NFTs. This includes features such as sustainable NFT royalties backed by tangible assets and additional revenue streams for NFT collection creators.</li><li>Yin Finance: YIN Finance is a versatile NFT liquidity management platform. It allows users to utilize the project's strategy for effective high-yield liquidity management across different public chains and decentralized exchanges.</li><li>Poolz Finance: Poolz Finance is a decentralized swapping protocol empowering startups and project owners with the ability to auction their tokens to bootstrap liquidity.</li><li>Math Wallet: Math Wallet is a comprehensive, multi-platform cryptocurrency wallet that supports storage for all major blockchain tokens.</li><li>Etherspot: Etherspot offers an Account Abstraction SDK, promoting a seamless Web3 user experience. It caters to the needs of decentralized applications, game, and wallet developers through its multi-chain, self-custody smart contract wallet platform.</li><li>Zerion: Zerion Wallet is a secure, open-source, non-custodial cryptocurrency wallet. It acts as a Web3 Crypto Wallet with NFT and DeFi Portfolio Tracker.<br></li></ol><p><strong>How to start using Neon EVM?</strong><br></p><p>NEON token is necessary to make transactions in the Neon EVM as it is used as gas required for covering the Neon EVM transaction fees (more tokens will be supported in the future), so ensure you have enough NEON tokens for your planned activities. Here's an instruction on how to get Neon tokens and transfer them to Neon EVM:<br></p><p>1. <strong>Purchase NEON tokens</strong>: buy NEON tokens from CEXes such as Gate.io, ByBit, or CoinList.</p><p>2.<strong> Transfer NEON tokens to a Solana-compatible wallet</strong>: create or open a Solana-compatible wallet like Phantom / Solflare / Key App and copy the wallet address. Withdraw NEON from your CEX wallet to the Solana wallet following the instructions provided by the CEX platform.</p><p>3. <strong>Setup an EVM-compatible wallet</strong>: install an EVM-compatible wallet like MetaMask in your browser and set up your wallet:<br></p><p><em>Option A: Automatic Setup with Chainlist.org</em></p><ol><li>Install MetaMask extension and create a wallet.</li><li>Go to <a href="https://chainlist.org/?search=Neon+EVM+MainNet&testnets=false&ref=p2p.org">https://chainlist.org/?search=Neon+EVM+MainNet&testnets=false</a>.</li><li>Click "Connect Wallet" to allow Chainlist to automatically select the Neon Proxy operator for you or choose an operator you prefer from the dropdown list and click the "Connect Wallet" link near its RPC server address.</li><li>Follow MetaMask prompts to connect.</li></ol><p><em>Option B: Manual Configuration</em></p><ol><li>Install MetaMask extension and create a wallet.</li><li>In MetaMask, click the circle in the top right and select "Settings".</li><li>Select "Networks", then "Add Network".</li><li>Fill in the fields:</li></ol><ul><li>Network Name: "Neon EVM MainNet"</li><li>New RPC URL: use one of the Neon Proxy operators RPC server addresses that you can find on Chainlist by expanding the dropdown list: <a href="https://chainlist.org/?search=Neon+EVM+MainNet&testnets=false&ref=p2p.org">https://chainlist.org/?search=Neon+EVM+MainNet&testnets=false</a>.</li><li>We recommend using P2P.org's RPC server address as one of the most reliable options: <a href="https://neon-proxy-mainnet.solana.p2p.org/?ref=p2p.org">https://neon-proxy-mainnet.solana.p2p.org</a></li><li>Chain ID: 245022926</li><li>Currency Symbol: NEON</li><li>Block Explorer URL (optional): <a href="https://neonscan.org/?ref=p2p.org">https://neonscan.org</a></li></ul><p>5. Click "Save".<br></p><p>4. <strong>Use NeonPass to transfer NEON to Neon EVM</strong>: once the NEON tokens are in your Solana-compatible wallet, use the NeonPass (<a href="https://neonpass.live/?ref=p2p.org">https://neonpass.live</a>) transfer interface to move your tokens to Neon EVM. You can cover the transaction cost in NEON or SOL tokens. After completion, your funds will be available on the Neon EVM network, i.e., in your EVM-compatible wallet.<br></p><p>5. <strong>Start Using NEON on Neon EVM</strong>: now that your NEON tokens are in your EVM-compatible wallet on the Neon EVM, you can start using them for transaction costs or other uses in the Neon EVM ecosystem (you will be able to interact with the protocols deployed on the Neon EVM via corresponding dApps using Metamask). You can find the protocols that are supported by Neon EVM here: <a href="https://neonfoundation.io/ecosystem?ref=p2p.org">https://neonfoundation.io/ecosystem</a></p>
from p2p validator
<h3 id="eigen-layer-restaking-alive">Eigen Layer restaking alive!</h3><p>EigenLayer <a href="https://twitter.com/eigenlayer/status/1669065156427681792?s=20&ref=p2p.org">successfully launched</a> Stage 1 Mainnet. This is a significant milestone and we are happy to be a part of this historical moment as one of the EigenLayer <a href="https://www.blog.eigenlayer.xyz/eigenlayer-stage-1-mainnet-launch/?ref=p2p.org#:~:text=Dimitry%20Ukhanov%20%2D%20P2P">community multisig members</a>!</p><p>Restaking doesn't generate any rewards right now since the launch of Actively Validated Services (AVS) generating these rewards is planned for a stage.</p><p>However, EigenLayer <a href="https://www.blog.eigenlayer.xyz/eigenlayer-mainnet-launch-benefits-of-early-restaking-2/?ref=p2p.org">highlights</a> that restaking early provides the earliest possible access to AVS rewards, as some services may cap their initial restake amounts.</p><p>EigenLayer launched with initial usage limits of 3200 for stETH, rETH, cbETH and 9600 ETH for native staking. The stETH cap of 3200 ETH was reached <a href="https://twitter.com/eigenlayer/status/1669085279020527616?ref=p2p.org">within the first hour</a> with rETH and cbETH following shortly afterwards! The team promises to increase limits progressively over the coming weeks and months. Although all liquid staking token (LST) options have already reached <a href="https://restaking.nethermind.io/?ref=p2p.org">their caps</a> native stakers still have time to become a part of early adopters (considering all risks that it might have)</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--2-.png" class="kg-image" alt loading="lazy" width="2000" height="464" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--2-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--2-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--2-.png 1600w, https://p2p.org/economy/content/images/2023/06/Untitled--2-.png 2378w" sizes="(min-width: 720px) 720px"></figure><h3 id="restaking-with-p2porg">Restaking with P2P.org</h3><p>You are already able to restake your ETH with <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> Ethereum staking dApp. Our non-custodial staking dApp already supports customization of validator withdrawal addresses, which is the basic requirement for native restaking to an EigenPod. Below we have prepared a step-by-step guide on how to do this. However, before restaking, please take note:</p><div class="kg-card kg-callout-card kg-callout-card-yellow"><div class="kg-callout-emoji">⚠️</div><div class="kg-callout-text">Withdrawal address is used for getting your ETH deposit back. Its specified once, and nobody can change it after the staking deposit is sent because the network cements the association of a particular validator and withdrawal address. When you decide to put EigenPod Address as a withdrawal address, you accept Eigen Layer smart contract risk and understand that <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> can't change this address.</div></div><p>To restake you first need to set up an EigenPod address that will be connected with your wallet. This EigenPod address will be used as the withdrawal address in the P2P.org staking dApp. To do this:</p><ol><li>Go to <a href="https://app.eigenlayer.xyz/?ref=p2p.org">https://app.eigenlayer.xyz/</a> and connect a wallet:</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--3-.png" class="kg-image" alt loading="lazy" width="2000" height="1225" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--3-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--3-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--3-.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/06/Untitled--3-.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>2. Click “Create EigenPod” and confirm this transaction in your wallet:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--4-.png" class="kg-image" alt loading="lazy" width="2000" height="1180" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--4-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--4-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--4-.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/06/Untitled--4-.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>3. A confirmation message will confirm your EigenPod was created successfully:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--5--1.png" class="kg-image" alt loading="lazy" width="2000" height="1130" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--5--1.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--5--1.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--5--1.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/06/Untitled--5--1.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>4. Click “Pod Details” and copy your EignePod address:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--6-.png" class="kg-image" alt loading="lazy" width="2000" height="1276" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--6-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--6-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--6-.png 1600w, https://p2p.org/economy/content/images/2023/06/Untitled--6-.png 2364w" sizes="(min-width: 720px) 720px"></figure><p>5. Visit <a href="http://eth.p2p.org/?ref=p2p.org" rel="noopener noreferrer">eth.p2p.org</a> to complete the next step in the process: Staking your ETH to an Ethereum validator. This step takes around 2 min and does not require registration or KYC. The below image shows how to complete this simple process, but note that <strong>you must set your EigenPod address as the validator withdrawal address</strong>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--7-.png" class="kg-image" alt loading="lazy" width="1752" height="1372" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--7-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--7-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--7-.png 1600w, https://p2p.org/economy/content/images/2023/06/Untitled--7-.png 1752w" sizes="(min-width: 720px) 720px"></figure><p>6. After this step is complete your ETH will enter the validator entry queue, and by the time your ETH validator is live your EigenPod balance will immediately reflect the stake. <strong>Note that current entry queue time is approximately 45 days</strong>. You can check the current activation time in our <a href="https://reports.p2p.org/superset/dashboard/128/?ref=p2p.org">Ethereum queue dashboard</a>.</p><p>7. The last but not least step is changing the execution rewards address (rewards for proposing new blocks). By default, it is set to the withdrawal address. However, since you have set up EigenPod as the withdrawal address, <strong>you need to choose a different wallet to receive these execution rewards</strong>. This is because the EigenPod address does not accept direct transactions from MEV bots. To accomplish this, you should reach out to P2P.org support through the dedicated chat in the staking dApp.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/06/Untitled--9-.png" class="kg-image" alt loading="lazy" width="1608" height="884" srcset="https://p2p.org/economy/content/images/size/w600/2023/06/Untitled--9-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/06/Untitled--9-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/06/Untitled--9-.png 1600w, https://p2p.org/economy/content/images/2023/06/Untitled--9-.png 1608w" sizes="(min-width: 720px) 720px"></figure>
from p2p validator
<p><strong>Introduction:</strong></p><p>Our team has been hard at work, and we're pleased to say that the new direct ETH staking app is now live in the Safe Apps Ecosystem. This blog post will guide you through how to use the P2P.org Non-Custodial direct ETH Staking App on Safe. Discover how to set up your wallet integration, find additional support from us, and seize the opportunity to stake your ETH effortlessly.</p><p></p><p><strong>The P2P.org App with Safe</strong></p><p>Safe is one of the most trusted decentralized custody protocols and collective asset management platforms on Ethereum. Holding and safeguarding billions of dollars in assets, Safe provides secure and <a href="https://www.google.com/url?q=https://docs.safe.global/learn/security/security-audits&sa=D&source=docs&ust=1686751866991915&usg=AOvVaw0Vm0CRfgmqRZjLRGu-89ff">audited</a> smart contract accounts for individuals and organizations.</p><p>The first-of-its-kind app on the Safe Apps Ecosystem allows users to quickly and easily direct stake ETH with just a few clicks while maintaining full custody of their assets.</p><p>Additionally, it will enable clients to avoid smart contract risks associated with liquid staking protocols. At the time of this article being created, Safe currently stores $39B+ in digital assets for its users. <br></p><p>The P2P.org Safe App integration is another step towards our vision to support non-custodial staking services to a growing DeFi community whilst allowing full ownership over your digital assets. Additionally, Safe users will still benefit from P2P.org's slashing protection guarantee when they direct stake their ETH through the app.</p><figure class="kg-card kg-video-card"><div class="kg-video-container"><video src="https://p2p.org/economy/content/media/2023/06/Safe-New.mp4" poster="https://img.spacergif.org/v1/1920x1080/0a/spacer.png" width="1920" height="1080" playsinline preload="metadata" style="background: transparent url('https://p2p.org/economy/content/images/2023/06/media-thumbnail-ember210.jpg') 50% 50% / cover no-repeat;"></video><div class="kg-video-overlay"><button class="kg-video-large-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button></div><div class="kg-video-player-container"><div class="kg-video-player"><button class="kg-video-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button><button class="kg-video-pause-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><rect x="3" y="1" width="7" height="22" rx="1.5" ry="1.5"/><rect x="14" y="1" width="7" height="22" rx="1.5" ry="1.5"/></svg></button><span class="kg-video-current-time">0:00</span><div class="kg-video-time">/<span class="kg-video-duration"></span></div><input type="range" class="kg-video-seek-slider" max="100" value="0"><button class="kg-video-playback-rate">1×</button><button class="kg-video-unmute-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M15.189 2.021a9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h1.794a.249.249 0 0 1 .221.133 9.73 9.73 0 0 0 7.924 4.85h.06a1 1 0 0 0 1-1V3.02a1 1 0 0 0-1.06-.998Z"/></svg></button><button class="kg-video-mute-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M16.177 4.3a.248.248 0 0 0 .073-.176v-1.1a1 1 0 0 0-1.061-1 9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h.114a.251.251 0 0 0 .177-.073ZM23.707 1.706A1 1 0 0 0 22.293.292l-22 22a1 1 0 0 0 0 1.414l.009.009a1 1 0 0 0 1.405-.009l6.63-6.631A.251.251 0 0 1 8.515 17a.245.245 0 0 1 .177.075 10.081 10.081 0 0 0 6.5 2.92 1 1 0 0 0 1.061-1V9.266a.247.247 0 0 1 .073-.176Z"/></svg></button><input type="range" class="kg-video-volume-slider" max="100" value="100"></div></div></div></figure><p><strong>How to Set Up Your P2P.org Safe Wallet Integration:</strong></p><ul><li>Visit the Safe website: <a href="https://safe.global/?ref=p2p.org">https://safe.global/</a>.</li><li>Click on "Launch Wallet" to access your dashboard.</li><li>On the left-hand side, locate and click on "Apps" to enter the apps ecosystem.</li><li>Search for "P2P" or "P2P.org" to find the P2P.org app.</li><li>Select the app and click on "Open Safe App."</li><li>Read the Disclaimer and press "Continue."</li><li>Next, review the User Terms, tick the box to accept, and click "Accept."</li><li>Enter the amount of ETH you wish to stake (remember, the minimum requirement is 32 ETH), and click "Continue." This will set up the validator and infrastructure, which may take up to one minute.</li><li>Confirm the staking details on the screen, then click "Stake ETH" and confirm the transaction in your wallet.</li><li>Once the transaction is indexed, you can view it in the pending queue. Feel free to click the "Chat with us" button to connect with our customer support via the Telegram group <a href="https://t.me/P2Pstaking?ref=p2p.org">@P2Pstaking</a>.</li><li>Head back to your dashboard to access the details of your staked ETH and monitor the status of your transaction.</li><li>If you encounter any questions or need further assistance, our dedicated support team is here to help. Join our Telegram group @P2Pstaking to connect with our knowledgeable staff and engage with the P2P.org community.</li></ul><p>You should now all be set up and ready to embark on your staking journey with P2P.org's direct ETH Staking App on Safe. Enjoy the benefits of secure and hassle-free staking while maintaining complete control and ownership of your assets. <br></p><div class="kg-card kg-button-card kg-align-center"><a href="https://app.safe.global/share/safe-app?appUrl=https%3A%2F%2Feth.p2p.org&chain=eth&ref=p2p.org" class="kg-btn kg-btn-accent">Stake with safe</a></div><p></p>
from p2p validator
<p><em>P2P.org recently launched a public pool on Aptos, and we are currently working towards accumulating a stake of 1 million to activate our node. If you’re interested in partnering with us, please feel free to reach out by contacting [email protected] or reaching us on Telegram at @P2P_staking.</em></p><p>Aptos is a Layer 1 blockchain heavily backed by an impressive group of VC funds, a16z, Tiger Global, Katie Haun, Multicoin Capital, Coinbase Ventures, Binance Labs and PayPal Ventures. With its own programming language called Move, strong partnerships, and a focus on technology, this blockchain holds great potential for real-world applications based on interest from various tech giants. On April 20th, delegated staking was launched, and P2P.org aims to provide you with all the information you need before starting your Aptos staking journey. Additionally, we conducted analytical research comparing the pace of staking adoption to a similar Layer 1 competitor.</p><p><strong>Currently, six node providers are available for staking</strong>, most of whom are well-known players in the crypto world. For example, Jump-Crypto has built a wormhole bridge connecting over 20 networks, and B-Ware labs led the development of delegated staking on Aptos. The network security is robust, backed by over 100 validators from around the globe using a different private staking mechanism. There is also a liquid staking opportunity called Tortuga Finance.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/05/2586.png" class="kg-image" alt loading="lazy" width="1680" height="734" srcset="https://p2p.org/economy/content/images/size/w600/2023/05/2586.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/05/2586.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/05/2586.png 1600w, https://p2p.org/economy/content/images/2023/05/2586.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>Node providers start generating rewards only after the total stake reaches over one million APT, approximately $9 million (as of 24.05.23). Currently, over ten inactive validators are still seeking enough stake to become active.</p><p><strong>The Annual Percentage Rate (APR) on Aptos is 7%</strong> and depends on a validator's uptime and commission. So far, all validators have been performing well, and there haven't been any significant downtime periods. There is no slashing, and the minimum commission is 7%, resulting in a final yield increase of approximately 6.5%.</p><p><strong>The validator unlock period varies from a few hours to 30 days</strong>, depending on when you unstake your APT. For example, if you stake 10 days into the cycle, you must wait 20 days to unlock your tokens. Once the unlock date has passed, you can withdraw your tokens.</p><p><strong>The minimum stake required is 11 APT</strong>, and there is also a staked fee. You may notice that the amount you have staked is less than the total stake you added. This is because you start earning rewards when the next epoch begins. However, this fee is then returned at the end of the current epoch.</p><p>Staking can be done directly from the main Aptos Explorer <a href="https://explorer.aptoslabs.com/validators/delegation?network=mainnet&ref=p2p.org">page</a>. All you need to do is connect one of the supported wallets (Petra, Pontem, Martian, Blocto, to name a few), choose a validator, and click the "stake" button. Our pool is called p2p-org.</p><p><strong>How quickly does the staking amount grow?</strong> Is the pace fast enough to instil confidence in token holders regarding Aptos as a long-term investment? How many institutions and whales are involved in staking? To answer these questions, let's compare Aptos to a similar Layer 1 blockchain, Near. For a fair comparison, let's return to October 2020, during the early stages of staking on Near.<br></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/05/2583.png" class="kg-image" alt loading="lazy" width="1680" height="971" srcset="https://p2p.org/economy/content/images/size/w600/2023/05/2583.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/05/2583.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/05/2583.png 1600w, https://p2p.org/economy/content/images/2023/05/2583.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>As we can see, the lines are quite uniform, except for the significant spikes that occurred on Aptos on days 3 and 23. These spikes result from the requirement of reaching a threshold of 1 million APT for a public node to become active. On those days, several large public pools joined the validation set, particularly on day 23 when a pool with over 14 million APT entered. In Near, at that time, the total of 100 biggest validators was required, so the minimum stake needed was not predetermined, resulting in a smoother line.</p><p><strong>Now let's examine who delegates on Aptos.</strong></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/05/2584.png" class="kg-image" alt loading="lazy" width="1680" height="971" srcset="https://p2p.org/economy/content/images/size/w600/2023/05/2584.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/05/2584.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/05/2584.png 1600w, https://p2p.org/economy/content/images/2023/05/2584.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>As we can see from the table, the majority of the stake is held by a few large institutions on both networks. However, this distinction is more significant on Aptos. You cannot start a pool and wait for small delegators to collectively generate 1M APT. They are more likely to stake with active pools to generate rewards. Therefore, you must find a large partner who can stake 1M APT at once.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/05/2585.png" class="kg-image" alt loading="lazy" width="1680" height="739" srcset="https://p2p.org/economy/content/images/size/w600/2023/05/2585.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/05/2585.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/05/2585.png 1600w, https://p2p.org/economy/content/images/2023/05/2585.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The table shows that only 15 delegators own 98.7% of the total stake. Most of them staked their tokens before the pools became active. Their total Total Value Locked (TVL) in USD is nearly $290,000,000, accounting for 85% of all delegated stake. However, this comparison is uneven because, at this stage, the Aptos foundation hadn't yet bootstrapped the validators, and there are only 6 mainnet participants who essentially stake their own money through the mechanism. This distribution will normalise when over 100 private validators join public staking.</p><p>Aptos delegated staking represents a significant milestone in the network's roadmap, although it is still in the early stages of development, with only a few participants currently involved. Despite this, there is noticeable interest in staking within the community, with a sufficient number of small and medium-sized delegators. However, the majority of stakers are still large investors. In contrast to Near, Aptos has gained support from major VC funds and global tech giants. This offers the potential for significant collaboration projects (e.g. Google Cloud partnership). According to Aptos, this is expected to accelerate the adoption of web3 and lead to numerous real-world applications of crypto solutions.</p>
from p2p validator
<p>If you hold SUI tokens, you can help secure the network by delegating to validators on the mainnet. This way, proof of stake delegators can keep or grow their percentage of the total supply over time.</p><h3 id="why-delegate-sui">Why delegate Sui?</h3><p>Sui network rewards participants with extra subsidies from 10% of the total supply, on top of gas fee rewards. Delegation is non-custodial, so validators cannot access or take your tokens. Sui does not slash your initial delegation, but your staking rewards may be lost if validators perform poorly. So choose your validators carefully.</p><p>P2P.org is a trusted SUI validator that participated in all pre-mainnet tests, including the validator game. We have over six years of experience validating 40+ proof of stake networks with top ratings. Our support team is available 24/7 to assist you or answer your questions. You can join our <a href="https://t.me/P2Pstaking?ref=p2p.org">telegram</a> channel or visit https://p2p.org/ website for more information.</p><h3 id="step-by-step-staking-instruction">Step-by-step staking instruction</h3><p>To start, you need to download <a href="https://chrome.google.com/webstore/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil?ref=p2p.org">Sui wallet browser extension</a> for Chrome</p><ul><li>Register in Sui wallet. You might lose control over your funds if you lose access to your seed phrase. Save it in a safe place. You can unlock Sui wallet from your device using the password.</li></ul><figure class="kg-card kg-image-card"></figure>
from p2p validator
<p>Data analytics is an important part of any blockchain's lifecycle. It provides valuable insights into the network's behaviour, allows for informed decision-making, and helps improves performance.</p><p>It is not only important but necessary to implement a data-driven approach from an early stage, such as during the test-net phase. This approach can help identify and resolve issues, predict the emergence of new ones, facilitate the resolution of multiple challenges on the path to the mainnet, and ensure that the final product is robust and reliable.</p><p>Performing data analytics on Celestia can be challenging due to its modular architecture, which requires a unique approach to data storage and indexing. However, leveraging our expertise in working with indexers and cutting-edge technology, we propose developing a comprehensive set of open-source tools for data indexing and storage. This will enable efficient and reliable data management solutions within the Celestia blockchain.</p><h3 id="what-to-analyze-in-celestia">What to analyze in Celestia?</h3><p>To understand how the Celestia network grows and operates, we propose analyzing a set of metrics that depict different product aspects. As the network's future is expected to consist of a variety of rollups, it should be possible to drill down to the level of a particular rollup in addition to a high-level system overview. Metrics will form certain benchmarks and trends, enabling health checks and predictions.</p><p><strong>Measures of demand for Celestia's Data Availability Layer.</strong></p><p>The metrics below will help evaluate the scale and rate of adoption, and identify the main consumers and their costs. This is a major part of Celestia's tokenomics.</p><ul><li>Number of data requests (ever/per period/per sender/rollup)</li><li>Number of unique request senders/rollups (ever/per period) - this is the number of entities that use DA</li><li>Amount of data requested (ever/per period/average per sender/rollup)</li><li>Fees paid for data (per request/per sender/rollup)</li></ul><p><strong>Measures of Data Availability Layer operation quality.</strong></p><p>While it is valuable to see how Celestia is used, it is also important to track the robustness of the network. Therefore, the following metrics can be used to provide an idea of whether operational requirements are met, security (light nodes for sampling) is ensured, and requests are fulfilled in a timely manner.</p><ul><li>Percentage of fulfilled requests (ever, per period, and per rollup).</li><li>Percentage of data made available (ever, per period, and per rollup).</li><li>Average actual number of light nodes in DAS per rollup per request (ever, per period) and average minimum required light nodes in DAS per rollup per request (ever, per period).</li><li>Average time it takes to fulfill requests after transaction is sent.</li></ul><h3 id="how-to-analyze">How to analyze?</h3><p><a href="http://p2p.org/?ref=p2p.org">P2P.org</a> has already developed a solution that can easily extract raw data from any Cosmos chain - the <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> Any-Cosmos-Chain Indexer. While Celestia may have specific data structure requirements, we are confident that we will not need to start development from scratch.</p><p>The Indexer source is open source and can be deployed and launched by anyone to access raw data. <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> suggests running an indexer on their own infrastructure, which includes an Indexer instance, a database for storing data, and several nodes for running data extraction. This provides an end-to-end solution for community data analysis.</p><p>Data can be stored in any database, but <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> offers to store it in a public DWH project. This is the best way to integrate a data-driven culture into your project, by having a public dataset with all the necessary data. An example of a CosmosHub public dataset, consisting of raw data from our indexer on CosmosHub, is available.</p><p>Currently, we use Google BigQuery to share this data with the community, but we plan to provide totally-free access to the data in the future. For now, you need a Google account with a free trial to query the data for free.</p><p>With the raw data, you can do anything, including data mining and providing analysis. Our main purpose is to extract knowledge from the data source. We take raw data and transform it into structured domain data which consists of metric definitions and metric history storage.</p><p>However, the main goal of any data analysis and research is transparency, clarity, and data visibility. The best way to achieve this is to build a public dashboard. <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> supports Looker (Google BI system) and Superset as BI for public dashboards, but also works with custom front-end solutions. This is just the tip of the iceberg in <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> data analysis process. Anyone who wants to understand and control the situation needs public dashboards to share insights and attract attention from the community.</p><p>We welcome any feedback and look forward to receiving the green light to begin.</p>
from p2p validator
<p>Sui network allocated 10% of the total supply to incentivize participants with additional subsidies paid on top of gas fee rewards. It allows proof of stake delegators to maintain or increase their share of the total supply over time.</p><h3 id="what-is-sui-staking">What is SUI staking?</h3><p>Every SUI token holder can improve network security by delegating to mainnet validators. The process is non-custodial, and validators cannot control or steal delegated tokens. Sui does not imply slashing of initial delegation. If validators cannot maintain good performance, it can result in staking rewards being seized. It is essential to select validators wisely.</p><p>P2P.org is an early SUI validator that participated in all pre-mainnet testing phases, including the validator game. Our team has over six years of experience validating 40+ proof of stake networks with AAA staking rewards ratings. Our 24/7 support team is eager to help or answer your questions, feel free to join our <a href="https://t.me/P2Pstaking?ref=p2p.org">telegram</a> channel or visit <a href="https://p2p.org/?ref=p2p.org">https://p2p.org/</a> website.</p><h3 id="step-by-step-staking-instruction">Step-by-step staking instruction</h3><p>To start you need to download <a href="https://chrome.google.com/webstore/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil?ref=p2p.org">Sui wallet browser extension</a> for Chrome</p><ul><li>Register in Sui wallet. You might lose control over your funds if you lose access to your seed phrase. Save it in a safe place. You can unlock Sui wallet from your device using the password.</li></ul><figure class="kg-card kg-image-card"></figure>
from p2p validator
<p>The world of blockchains is evolving rapidly, with innovations and improvements in design and user experience. The goal is to create a platform that can serve the needs and aspirations of billions of people worldwide. Today, we are excited to celebrate the launch of Sui - a next-generation layer one blockchain with modular architecture and parallel execution powered by Move language.</p><p>Sui uses a proof of stake mechanism that aligns validators' incentives with the network's long-term health. The team introduces the reference gas price (RGP) and storage fund to ensure predictable and affordable gas costs for users and to cover the data storage costs for validators. For every epoch, validators collectively choose the RGP, which determines their expected gas fee revenue. The storage fund is a pool of funds compensating validators for storing data on the chain over time.</p><p>Sui is based on an object-oriented data model, where each object is a data piece with its own identifiers and attributes. Users can freeze objects or share them without giving up their ownership rights. This allows for more flexibility and creativity in designing applications on Sui, including collaborative scenarios. For example, users can share the game object with a streaming platform object to broadcast the game live or freeze the game object to preserve its original version.</p><p><em>We are proud to be a genesis validator for Sui mainnet after participating in all the testing phases. This aligns with our vision of supporting the most cutting-edge projects fostering adoption in the blockchain space.</em></p><p>Our infrastructure is secure, reliable, and distributed across different locations. We have a dedicated team of experts monitoring infrastructure 24/7 and ensuring smooth and timely upgrades. We also have a robust alert system that enables us to respond quickly to any issues or updates.</p><p><em>If you hold SUI tokens, you can delegate them to our public node and earn rewards for securing the network.</em></p><h3 id="about-sui">About Sui</h3><p>Sui is a revolutionary blockchain network that aims to achieve high scalability and low costs while maintaining fast and secure transactions. Sui team has a wealth of experience and expertise in building scalable and secure systems since working on Novi/Diem at Meta. Sui has also attracted the support of prominent investors such as Jump, a16z, Binance Labs, Kosmos VC, and many others.</p><p>To find out more and join the community, visit the official<a href="https://sui.io/?ref=p2p.org"> Sui website</a>,<a href="https://sui.io/developers?ref=p2p.org"> developer portal</a> and join<a href="https://discord.gg/sui?ref=p2p.org"> Discord</a></p><h3 id="about-p2p">About P2P</h3><p>P2P Validator is a leading staking provider with a proven track record and best-in-class security standards. We carefully select evaluating the most promising networks and offer only the best staking opportunities. As of the latest update, over 1.5 billion USD worth of assets staked with us by more than 40,000 delegators across 35+ networks. We have also successfully participated in all phases of Sui testing prior mainnet. P2P is committed to the long-term success of Sui ecosystem.</p><p>Feel free to join the P2P community, visit the <a href="https://p2p.org/?ref=p2p.org">official website</a>, and subscribe to our<a href="https://twitter.com/P2Pvalidator?ref=p2p.org"> Twitter</a> and<a href="https://t.me/P2Pstaking?ref=p2p.org"> Telegram</a>.</p>
from p2p validator
<p>The Shapella upgrade, which happened on April 12, 2023, has been the most significant event for Ethereum since The Merge in September 2022. In our <a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/" rel="noopener noreferrer">recent article</a>, we explored the important features of the Shapella upgrade, with a focus on partial and full withdrawals. In this article, we will go deeper into the upgrade. We will look at the current network status a week after the upgrade, full and partial withdrawals, and who withdrew. We also examine how this transition affected the performance metrics of pools and operators.</p><h3 id="table-of-contents"><strong>Table of contents</strong></h3><!--kg-card-begin: markdown--><ul> <li><a href="#T1"><span style=" font-size:16px"> Network Overview </span></a></li> <li><a href="#T2"><span style=" font-size:16px"> The first hours after the upgrade </span></a></li> <li><a href="#T3"><span style=" font-size:16px"> Withdrawals<br> </span></a></li> <li><a href="#T4"><span style=" font-size:16px"> Operators performance </span></a></li> </ul> <!--kg-card-end: markdown--><!--kg-card-begin: markdown--><h2 id="network-overview-a-namet1a">Network Overview <a name="T1"></a></h2> <!--kg-card-end: markdown--><p>One week after Shapella, the current total staked amount is 17,972,763 ETH, 54k lower than the maximum on April 12th. This stake represents approximately 15.65% of the total circulating supply of Ethereum, indicating strong investor confidence in the platform. The network's effectiveness has decreased to 91.46% because it experienced minor struggles after the upgrade.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/10.png" class="kg-image" alt loading="lazy" width="1680" height="307" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/10.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/10.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/10.png 1600w, https://p2p.org/economy/content/images/2023/04/10.png 1680w" sizes="(min-width: 720px) 720px"></figure><!--kg-card-begin: markdown--><h2 id="the-first-hours-after-the-upgrade-a-namet2a">The First hours after the upgrade <a name="T2"></a></h2> <!--kg-card-end: markdown--><p>The most noticeable inaccuracies occurred in the first three hours after the activation slot. During this period, around 15% of blocks were missed, 7% of attestations did not occur, and approximately 30% of head votes were incorrect. Naturally, these inaccuracies led to a decrease in the share of consensus layer rewards. It should also be noted that the correlation between incorrect head votes and missed blocks is observed due to consensus rules - the lifetime of attestation of a valid head vote block is one slot, and if it is not submitted, then there was no block.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/11.png" class="kg-image" alt loading="lazy" width="1680" height="1679" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/11.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/11.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/11.png 1600w, https://p2p.org/economy/content/images/2023/04/11.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>Going into detail, we have identified several reasons for the network indicators observed in the first hours after the update. Firstly, the reduced percentage of correct attestations suggests that up to 9% of validators were not updated, which directly affected block misses. Secondly, <a href="https://github.com/prysmaticlabs/prysm/pull/12263?ref=p2p.org">Prysm experienced problems with obtaining MEV-blocks</a>. It was unable to produce blocks while connected to relays. Thirdly, <a href="https://github.com/sigp/lighthouse/issues/4184?ref=p2p.org">Lighthouse was 100% CPU-loaded for about 2 hours</a>, which led to missed attestations and late block proposing. Another reason, in our experience, is that the Teku client took a long time, about 15 seconds, to import blocks, causing lag on the network. These facts highlight the importance of client diversity in ensuring network stability.</p><p>However, the minor nature of the problems is confirmed by the fact that with each epoch, effectiveness slowly but constantly improved, and in a day, though not without emergency releases of CL clients, it reached the usual indicators.</p><p>Additionally, with the Capella update, validators who specified the "old" BLS address as withdrawal credentials were able to change it to the ETH1 address with the 0x01 prefix. This operation requires more RAM, bandwidth, and CPU power from the CL Node in each slot and <a href="https://twitter.com/TimBeiko/status/1646289478326145026?ref=p2p.org">had a small impact on the degradation of network performance metrics</a>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/12.png" class="kg-image" alt loading="lazy" width="1680" height="970" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/12.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/12.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/12.png 1600w, https://p2p.org/economy/content/images/2023/04/12.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>In the first 6 days, 226k validators changed their addresses, it’s about 70% of all validators with BLS withdrawal credentials. This means that the time needed for one iteration of the withdrawal clock has increased significantly, but has not reached its maximum.</p><!--kg-card-begin: markdown--><h2 id="withdrawals-a-namet3a">Withdrawals <a name="T3"></a></h2> <!--kg-card-end: markdown--><p>The Shapella upgrade introduces two types of withdrawals: full withdrawals (also known as exits) and partial withdrawals (staking reward collection). If you would like to dive deeper into how withdrawals work, you can explore our <a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/" rel="noopener noreferrer">Shapella Upgrade article</a>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/13.png" class="kg-image" alt loading="lazy" width="1680" height="1230" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/13.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/13.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/13.png 1600w, https://p2p.org/economy/content/images/2023/04/13.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>After the Ethereum update, the total amount of Ethereum withdrawn was found to be 1,323,637 ETH, with only 1.6% of validators exiting the system. This withdrawal led us to analyze the amount of Ethereum that was sold on DEX, and we found that only 0.25% of the total ETH was actually sold.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/14.png" class="kg-image" alt loading="lazy" width="1680" height="982" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/14.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/14.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/14.png 1600w, https://p2p.org/economy/content/images/2023/04/14.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The analysis also revealed that most of the validators who withdrew were from Kraken, accounting for over 90% of the total withdrawals. The reason behind this mass withdrawal was a fine imposed by the SEC, which forced the exchange to wind down its US staking operations.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/15.png" class="kg-image" alt loading="lazy" width="1680" height="1075" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/15.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/15.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/15.png 1600w, https://p2p.org/economy/content/images/2023/04/15.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>We can see that a large number of full withdrawals occurred between April 15th and April 20th. The Kraken validators' indexes are sequential, meaning their withdrawals also occurred sequentially. As a result, we observe large volumes on those days. All 333k ETH withdrawn from Kraken's validators is currently being held in the withdrawal address 0x210b3cb99fa1de0a64085fa80e18c22fe4722a1b.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/16.png" class="kg-image" alt loading="lazy" width="1680" height="1065" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/16.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/16.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/16.png 1600w, https://p2p.org/economy/content/images/2023/04/16.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>In addition, it’s important to note that there are currently 19,029 validators waiting to exit the active validator set. Currently, only 8 validators can exit every epoch. After that, there is a waiting period of 27 hours to ensure that the validator is unslashed. Finally, the withdrawal process involves a looped queue that can take up to 5 days. Therefore, at this time, the exit queue is approximately 12-16 days.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/17.png" class="kg-image" alt loading="lazy" width="1680" height="971" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/17.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/17.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/17.png 1600w, https://p2p.org/economy/content/images/2023/04/17.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The number of validators in the exit queue is gradually decreasing. Our analysis suggests that over 72% of active exiting validators belong to centralized exchanges (CEX). Meanwhile, the number of validators waiting to enter the active validator set is increasing and currently stands at 8,152.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/18--1-.png" class="kg-image" alt loading="lazy" width="1680" height="931" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/18--1-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/18--1-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/18--1-.png 1600w, https://p2p.org/economy/content/images/2023/04/18--1-.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>This trend indicates a growing interest in Ethereum staking, as evidenced by the observable increase in the waiting time within the queue. Currently, the waiting time is equal to 1 day and 20 hours.</p><!--kg-card-begin: markdown--><h2 id="operators-performance-a-namet3a">Operators performance <a name="T3"></a></h2> <!--kg-card-end: markdown--><p>We examined how this transition affected on validator’s performance metrics divided by pools and operators. As we can observe, after the update on 13th April validator effectiveness dropped over 10 p.p for operators.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/19.png" class="kg-image" alt loading="lazy" width="1680" height="981" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/19.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/19.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/19.png 1600w, https://p2p.org/economy/content/images/2023/04/19.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The effectiveness of a validator is determined by its block proposal and attestation rates, which are the measures of performing the validator’s duties like timely block proposals and attestations. Let's take a closer look at each of these indicators.</p><p>After a recent update, there were a significant number of missed blocks in the network. On April 13th, there were a total of 633 missed blocks, which is 342% higher than the number of missed blocks on April 12th. As shown in the plot, this had a negative impact on the block proposal rate and led to a drawdown.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/20.png" class="kg-image" alt loading="lazy" width="1680" height="981" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/20.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/20.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/20.png 1600w, https://p2p.org/economy/content/images/2023/04/20.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The attestation rate is measured by three factors: participation rate, correctness, and inclusion delay.</p><p>We can see that the participation rate didn't change much after the update for most validators, except for RocketPool, whose uptime dropped by around 2.5 percentage points. However, the correctness plot shows that there were many incorrect head votes and target votes after the update. Additionally, the average inclusion distance between the attestation slots attributed and the actual slots the votes were included in, also increased.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/21--1-.png" class="kg-image" alt loading="lazy" width="2000" height="944" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/21--1-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/21--1-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/21--1-.png 1600w, https://p2p.org/economy/content/images/size/w2400/2023/04/21--1-.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>However, during the week, the operator's performance improved, allowing them to recover to the values of the level before the update.</p><h3 id="slashings">Slashings</h3><p>This week was unfortunate for several validators. There were 11 slashings on the next day after Shapella by validators of RockLogic GmbH in Lido pool, but this is not related to the update, just the operator suffered from a bug with keystore in the Prysm client. This case, certainly, was analyzed in detail, accompanied by a <a href="https://blog.lido.fi/loe-rocklogic-gmbh-slashing-incident/?ref=p2p.org">post-mortem</a> and has already been fixed.</p><p>The good side of this news is that since Lido has a money-back policy and treasury, none of the clients will definitely suffer losses.</p><!--kg-card-begin: markdown--><h2 id="conclusion-a-namet4a">Conclusion <a name="T4"></a></h2> <!--kg-card-end: markdown--><p>In conclusion, the Shapella upgrade has had a significant impact on the Ethereum network. The transition was not without its challenges, with a significant number of missed blocks in the network and a decrease in effectiveness. However, the network has shown resilience and has been able to recover to pre-upgrade levels in terms of performance. The increase in the waiting time for validators to enter the active validator set indicates a growing interest in Ethereum staking, which bodes well for the future of the network. While there were some issues with the upgrade, the Ethereum community has shown its ability to adapt and overcome challenges, which is a positive sign for the future development of the platform.</p>
from p2p validator
<p>We are excited to introduce our ground-breaking Ethereum (ETH) auto-staking feature, powered by our <a href="https://github.com/mixbytes/audits_public/tree/master/P2P.org?ref=p2p.org" rel="noopener noreferrer">audited immutable smart contract</a>. This feature completely automates the Ethereum staking process, making staking ETH easier than ever.</p><p>Our ETH staking offer is completely non-custodial and there are no KYC requirements. You simply connect your wallet and stake. </p><p>To set up a validator you will only need:</p><p>1) An Ethereum wallet</p><p>2) To specify the amount of stake - 1 validator per 32 ETH;</p><p>3) To specify the withdrawal address.</p><h2 id="ethereum-staking-guide">Ethereum Staking guide</h2><ol><li>Navigate to <a href="https://eth.p2p.org/?ref=p2p.org">https://eth.p2p.org/</a> and you will be brought up to the screen below.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image.png" class="kg-image" alt loading="lazy" width="1440" height="811" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image.png 1000w, https://p2p.org/economy/content/images/2023/04/image.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>2. Then click "connect wallet" on the top right. We currently support Metamask and Ledger Wallet or you can use Wallet Connect. </p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-4.png" class="kg-image" alt loading="lazy" width="1440" height="802" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-4.png 1000w, https://p2p.org/economy/content/images/2023/04/image-4.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>We have prepared a video guide on how to connect a Safe wallet:</p><figure class="kg-card kg-video-card"><div class="kg-video-container"><video src="https://p2p.org/economy/content/media/2023/04/howto-eth-p2p-stake.mp4" poster="https://img.spacergif.org/v1/1920x1080/0a/spacer.png" width="1920" height="1080" playsinline preload="metadata" style="background: transparent url('https://p2p.org/economy/content/images/2023/04/media-thumbnail-ember2702.jpg') 50% 50% / cover no-repeat;"></video><div class="kg-video-overlay"><button class="kg-video-large-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button></div><div class="kg-video-player-container"><div class="kg-video-player"><button class="kg-video-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button><button class="kg-video-pause-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><rect x="3" y="1" width="7" height="22" rx="1.5" ry="1.5"/><rect x="14" y="1" width="7" height="22" rx="1.5" ry="1.5"/></svg></button><span class="kg-video-current-time">0:00</span><div class="kg-video-time">/<span class="kg-video-duration"></span></div><input type="range" class="kg-video-seek-slider" max="100" value="0"><button class="kg-video-playback-rate">1×</button><button class="kg-video-unmute-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M15.189 2.021a9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h1.794a.249.249 0 0 1 .221.133 9.73 9.73 0 0 0 7.924 4.85h.06a1 1 0 0 0 1-1V3.02a1 1 0 0 0-1.06-.998Z"/></svg></button><button class="kg-video-mute-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M16.177 4.3a.248.248 0 0 0 .073-.176v-1.1a1 1 0 0 0-1.061-1 9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h.114a.251.251 0 0 0 .177-.073ZM23.707 1.706A1 1 0 0 0 22.293.292l-22 22a1 1 0 0 0 0 1.414l.009.009a1 1 0 0 0 1.405-.009l6.63-6.631A.251.251 0 0 1 8.515 17a.245.245 0 0 1 .177.075 10.081 10.081 0 0 0 6.5 2.92 1 1 0 0 0 1.061-1V9.266a.247.247 0 0 1 .073-.176Z"/></svg></button><input type="range" class="kg-video-volume-slider" max="100" value="100"></div></div></div></figure><p>3. Once you successfully connect your wallet, we can begin the staking process. We can define how much ETH we want to stake and a withdrawal address.</p><p>Each Ethereum validator requires 32 ETH to set up so Ethereum can only be staked in multiples of 32 ETH. <br><br>We can also pick a different withdrawal address. The withdrawal address is used to receive rewards and withdraw the ETH staked.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-6.png" class="kg-image" alt loading="lazy" width="1440" height="759" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-6.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-6.png 1000w, https://p2p.org/economy/content/images/2023/04/image-6.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>4. Once everything is set up, we can press continue and we will be taken to a confirmation screen. If everything is set up correctly we can press Stake. </p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-7.png" class="kg-image" alt loading="lazy" width="1440" height="868" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-7.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-7.png 1000w, https://p2p.org/economy/content/images/2023/04/image-7.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>5. You will be prompted to confirm the transaction on your wallet.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-8.png" class="kg-image" alt loading="lazy" width="1440" height="966" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-8.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-8.png 1000w, https://p2p.org/economy/content/images/2023/04/image-8.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>6. After you confirm the transaction in your wallet, wait a few minutes for it to be completed in the network.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-9.png" class="kg-image" alt loading="lazy" width="1440" height="966" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-9.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-9.png 1000w, https://p2p.org/economy/content/images/2023/04/image-9.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>7. Once the transaction has been successfully confirmed we need to wait for the validators to become active. Under normal circumstances can take up to 24 hours but this is subject to change based on the number of people trying to stake.</p><p>While you wait you can join a personal telegram chat with our team. There we will share updates about your stake and can answer all of your questions.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-10.png" class="kg-image" alt loading="lazy" width="1440" height="1118" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-10.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-10.png 1000w, https://p2p.org/economy/content/images/2023/04/image-10.png 1440w" sizes="(min-width: 720px) 720px"></figure><p>8. Once the validators are active you will start earning rewards. You will also have access to a personal dashboard where you can check the status of your staked account. </p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-11.png" class="kg-image" alt loading="lazy" width="1440" height="1072" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-11.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/image-11.png 1000w, https://p2p.org/economy/content/images/2023/04/image-11.png 1440w" sizes="(min-width: 720px) 720px"></figure><hr><!--kg-card-begin: markdown--><h2 id="ethereum-eth-staking-faq">Ethereum (ETH) Staking FAQ</h2> <h3 id="do-i-need-to-pass-kyc-to-stake-eth">Do I need to pass KYC to stake ETH?</h3> <p>No, when working with P2P, there is no need to go through KYC because staked assets never touch our account and are sent directly to the Ethereum network.</p> <h3 id="what-is-the-minimum-amount-of-ethereum-required-to-stake">What is the minimum amount of Ethereum required to stake?</h3> <p>No Ethereum is necessary to run a node. However, it is necessary to stake 32 ETH x [amount of validators] to activate the validators and start getting rewards.</p> <h3 id="what-is-a-withdrawal-address-and-who-owns-it">What is a withdrawal address, and who owns it?</h3> <p>The withdrawal address is the Ethereum address used to unstake and receive rewards. This address is specified once and it can't be changed after the staking deposit is sent, because the network cements the association of a particular validator and withdrawal address. Access to the private key for this withdrawal address is required to unstake (seed phrase). It is also important to note that P2P is not a custodian and has no exposure to the client’s withdrawal private key. P2P will never ask, under any circumstance, at any time for access to the withdrawal key.</p> <h3 id="what-is-a-validator-key-and-who-owns-it">What is a validator key, and who owns it?</h3> <p>A validator key is a private key for maintaining the validator’s work (setting up validators, updating software etc.). P2P owns the validator keys and guarantees the highest standards for protecting these keys from being compromised, breached, or otherwise misused. This is accomplished through Threshold signatures, which are the gold standard for internal/external security threats. This solution is used by leading custodians, crypto banks, and Multi-Party Computation solutions.</p> <h3 id="why-use-smart-contracts-to-stake-eth">Why use smart contracts to stake ETH?</h3> <p>By design, ETH staking requires one staking transaction per 32 ETH. By using smart contracts we significantly simplify staking, reduce the cost of staking and minimize the risk of any human error. Thanks to our <a href="https://github.com/mixbytes/audits_public/tree/master/P2P.org?ref=p2p.org">audited</a> smart contracts it is possible to activate up to 100 validators with a single transaction.</p> <h3 id="can-i-stake-ethereum-with-a-hardware-wallet">Can I stake Ethereum with a hardware wallet?</h3> <p>Yes, it is possible to stake ETH with a Ledger (via native connection) or a Trezor wallet (via Metamask).</p> <h3 id="how-do-i-earn-rewards-from-staking-ethereum">How do I earn rewards from staking Ethereum?</h3> <p>Ethereum rewards are comprised of 2 parts associated with performing validation duties and block creation.</p> <ol> <li>Validation rewards are taken by performing the validator’s duties as an attestation for a block created by another validator, attestation for a block in sync committee and for creating a block. Validation rewards are accrued every 6.4 min and account for around 70% of the total rewards. Currently, these rewards aren’t withdrawable until the Shanghai upgrade. Following Shanghai, it will be possible to:</li> </ol> <ul> <li>Fully withdraw all the staked ETH + rewards and deactivate the validator;</li> <li>Partially withdraw all the Ethereum over 32 to the withdrawal address periodically.</li> </ul> <ol start="2"> <li>Block rewards (priority transaction fees + an additional fee from MEV) are accrued with block creation as a payment from transactions to the validator for including them in the block. It appears once every 62 days on average and accounts for around 30% of the total reward. MEV-boost isn’t a separate type of reward but is a technique used to build a block that will yield the maximum fee. Transaction fees accumulate on a p2p smart contract which is then automatically delivered to the client on a monthly basis after the P2P service fee has been deducted.</li> </ol> <h3 id="can-i-still-use-my-staked-ethereum-while-it-is-staked">Can I still use my staked Ethereum while it is staked?</h3> <p>No, the staked ETH is locked in the Ethereum smart contract and cannot be used.</p> <h3 id="how-does-p2p-take-its-service-fee">How does P2P take its service fee?</h3> <p>P2P takes its service fee from the execution layer rewards. By default, a special immutable smart contract is used to automatically split rewards between the user and P2P by the previously agreed rules. Other invoicing strategies can be employed by prior agreement.</p> <h3 id="how-does-slashing-work-in-ethereum">How does slashing work in Ethereum?</h3> <p>Slashing punishes validators for actions that are very difficult to do accidentally, and it’s very likely a sign of malicious intent. It’s a really rare event: there's only been 5 slashed validators within the whole network over the last month (or 0.001%). <a href="https://beaconcha.in/validators/slashings?ref=p2p.org">beaconcha.in/validators/slashings</a></p> <p>What is “slashable” behaviour? In a nutshell, it’s a violation of consensus rules in the network. As of right now, it needs to meet three conditions: proposal of two conflicting blocks at the same time, double vote attestation and surround attestation. This can happen due to either an intentional malicious action or misconfiguration of the validator (the most often being, running two of the same validators in the network).</p> <p>Slashing results in burning 1,0 ETH at once, and removing the validator from the network forever, which takes 36 days. During this time, the validator continues to work but can no longer participate in validation and block creation, getting a penalty of around 0.1 ETH in total.</p> <p>For the most part that's the sum of the penalty incurred, but there is also an additional midpoint (Day 18) penalty that scales with the number of slashed validators. This is called "correlation penalty” and it's currently only theoretical and has never been encountered on the Ethereum mainnet. This mechanism is there to protect the network from large attacks. The math for calculation penalty is pretty complicated, but the summary is if there are only 1, 100, or even 1000 slashed validators within 36 days the penalty will equal zero ETH. However, if the number of slashed validators increases to roughly 1.1% of all validators (currently 5.1k), this penalty becomes 1 ETH and an additional 1 ETH for every additional 1.1% validator slashed. So if 1/3 of the network is slashed, the penalty will nullify the whole stake (32 ETH). This mechanism is in place to prevent an attack on the network and it should never be triggered by accident.</p> <h3 id="how-can-slashing-be-prevented">How can slashing be prevented?</h3> <p>There are special mechanisms in place to prevent validators from meeting the slashing conditions called <a href="https://medium.com/prysmatic-labs/eth2-slashing-prevention-tips-f6faa5025f50?ref=p2p.org">slashing protection</a>. These mechanisms usually consist of a database with a signing history which the validator uses to check if the block can be signed (coupled with the default levels of monitoring and alerting protection). Additional protection levels will depend on the validator’s setup. P2P uses double-checking with a separate database at the key-manager stage and secures validators' key’s by Threshold, which means that no single person, even a P2P engineer, can run a second validator and a quorum is required for that. The final level of protection we have in place is an institutional grade slashing insurance.</p> <h3 id="how-can-staking-activity-be-tracked">How can staking activity be tracked?</h3> <p>Anyone who stakes with P2P gets access to a personal staking dashboard that can be used to track rewards and the validators' performance (APR, staking balance, % of blocks created with MEV, attestation rate, missed block, market comparisons, etc.)</p> <h3 id="in-what-geographic-location-is-p2ps-validator-infrastructure-running">In what geographic location is P2P's validator infrastructure running?</h3> <p>P2P direct staking infrastructure is located in Europe and distributed among 5 separate physical locations for protection from downtime.</p> <h3 id="how-does-p2p-protect-its-validators-from-widespread-outages">How does P2P protect its validators from widespread outages?</h3> <p>P2P validators have no single point of failure and are downtime resistant with back-ups of all critical infrastructure parts between 5 different physical locations, including:</p> <ol> <li> <p>Signing infrastructure - 3 location-independent key managers with 2-of-3 threshold quorum required for consensus;</p> </li> <li> <p>Validators Nodes - we have a reserve in a secure region ready to be activated within a maximum of 1 minute in case of an outage;</p> </li> <li> <p>Consensus layer nodes - our setup has top-3 consensus layer clients (Lighthouse, Prysm, Teku) simultaneously for diversity and preventing outrages related to soft bugs in one client. It also increases availability for validators.</p> </li> </ol> <!--kg-card-end: markdown-->
from p2p validator
<p>MultiversX is a recently redesigned blockchain that enables innovative applications in various fields, including the emerging metaverse. The platform has a bold vision, and its staking scheme is also quite unique. At P2P.ORG, we have decided to closely examine the rewards formula, analyze validators’ and delegators’ intentions, and try to predict the future of MultiversX's staking economy.</p><p><strong>MultiversX. A high-margin validator market. Less institutional, more community-oriented approach</strong><br></p><p>Unique facts about MultiversX staking:</p><ul><li>The Palm Tree Network takes a 70% higher commission from their clients than P2P.ORG and still their clients have a better APR P2P.ORG clients</li><li>White Label nodes services are not widely distributed</li><li>Institutional clients tend to distribute their stake across multiple validators, and do not heavily focus on one</li><li>Fees are higher compared to other blockchain networks. E.g: Let’s compare it with Near Protocol</li></ul><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2573.png" class="kg-image" alt loading="lazy" width="1680" height="944" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2573.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2573.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2573.png 1600w, https://p2p.org/economy/content/images/2023/04/2573.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>As we can gather from the official explorers, most of the heavily staked validators charge 15% fee or higher. This makes MultiversX attractive even for small validators looking to survive the severe bear market conditions.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2574.png" class="kg-image" alt loading="lazy" width="1680" height="944" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2574.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2574.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2574.png 1600w, https://p2p.org/economy/content/images/2023/04/2574.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>Many validators are also big community contributors and work hard on projects alongside the foundation. This is because nodes can currently only be allocated by the foundation or by the "queue". There are currently 79 nodes in the queue waiting to join the active set. During this period, they use stake but do not generate any profit. This queue can take several months due to high demand and a fixed number of nodes. This explains why white-label node services are not widely distributed.</p><p>In short, the interest in staking is consistently rising among MultiversX users. Due to the fixed number of nodes, there is high demand for each staking provider, and they can therefore charge higher fees. It is also worth noting that validating in MultiversX requires running multiple nodes instead of just one. Validators typically spend more on infrastructure and engineering teams.</p><p>The greater the stake a validator receives, the lower the APR it can offer. This is why institutional clients tend to distribute their stake across multiple validators, rather than heavily focusing on one.</p><p><strong>A detailed description of the MultiversX staking model. All the possible ways to maximize the number of rewards</strong></p><p>Stake in MultiversX is separated into 2 parts:</p><p>• Base stake</p><p>• Top-up stake</p><p>The base stake is allocated to nodes participating in network validation. The maximum number of nodes that can participate in validation is 3200, and each node must be staked with a minimum of 2,500 EGLDs. Validators can have as many nodes as they want, but there are a few points to keep in mind:</p><p>Imagine you have five nodes, all of which participate in the validation process and generate income for you. Your total stake is 12,500 EGLDs. Someone has given you an additional 5,000 EGLDs, which you can use to run two more nodes, increasing your stake to a total of 17,500 EGLDs across seven nodes. However, the maximum capacity of 3,200 nodes in the network is already occupied by nodes of other validators, which means that your two new nodes, with only 5,000 EGLDs each, must wait in a queue before they can begin validation. While they wait in the queue, they do not generate any rewards but still cost to maintain. Unfortunately, the queue moves slowly, and it's possible that you'll have to wait for months because there are other nodes ahead of yours and nodes in the validating pool don't leave very often. What's the solution? The solution is to top-up your stake.</p><p>The top-up stake is a type of stake that you can use if you don't have the possibility to run new nodes or wait in a long queue. In the example above, we have 5 nodes with 2,500 EGLDs each, totalling 12,500 EGLDs at stake. We have an extra 5,000 EGLDs of stake, but we can't run new nodes to stake it. In this case, these 5,000 EGLDs will automatically become a Top-up stake. Therefore, we have a total of:</p><ul><li>12,500 EGLDs of base stake, as we have 5 nodes allocated with 2,500 EGLDs each</li><li>5,000 EGLDs of Top-up stake</li><li>Total of 17,500 EGLDs<br></li></ul><p>So, what is the difference between Top-up and base stake? The difference lies in the number of rewards that the validator gains for each stake.</p><p>You can find all the formulas behind our calculations <a href="https://docs.multiversx.com/economics/staking-providers-apr?ref=p2p.org">here</a>:</p><p>Genesis Total Supply = 20M EGLDs<br>inflation Rate = 8.56% (year 3)<br>P = 2 000 000<br>Total Nodes = 3 200<br>Eligible Top Up Stake = 3 863 418,56 <br>Total Top Up Stake = 7 571 288,70<br>Protocol Sustainability Rewards = 10%<br>Num Days in A Year = 365<br>Top-up Factor = 0.5</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2575.png" class="kg-image" alt loading="lazy" width="1680" height="774" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2575.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2575.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2575.png 1600w, https://p2p.org/economy/content/images/2023/04/2575.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>As you can see, there is a reward of 2753 EGLDs for base stake and 1469 EGLDs for Top-up stake. The reward for base stake is twice as large as the reward for Top-up stake, and it will be distributed among validators. To calculate these rewards, use the following formulas:</p><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/XCjZMlY_E8eHou6miZvWZhzMuW5ghPl9vd7GnZ1pSgnAyZa4bWxAOtBHgNghMm50deO39RhWVxZ5T4TwsMGkWQBYNFAR9kq7MBP5H5KXT8ziqwvOIwlhUEMqDMNGLSzRzyrgJoiz3-hAIPiutXoYhcg" class="kg-image" alt loading="lazy" width="602" height="48"></figure><figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/W5v_rqksWhmKMDevkORzCmELj6kD3Io8h72AQ1T_AGwiGBbq0o2RDFa7yw0HEfy2JHdgyuU6LuG_llcoAG5KqvA3FAQ0durjtw8lbZoruKzs1SH6zAqkvqbZD-FG4n7BuqfIp90Fh-jaKbj-QPAnyCs" class="kg-image" alt loading="lazy" width="602" height="48"></figure><p>We can calculate final rewards for an epoch. Let’s consider P2P.ORG and The Palm Tree Network:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2576.png" class="kg-image" alt loading="lazy" width="1680" height="331" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2576.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2576.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2576.png 1600w, https://p2p.org/economy/content/images/2023/04/2576.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The main reason is that The Palm Tree Network's base stake accounts for 58% of their total stake, which is allocated on 76 nodes. On the other hand, P2P.ORG only has 39% of their base stake out of the total. The current APR for each type of stake is as follows:</p><p>Reward Base x 365/ Base Stake = 12.5% for base stake</p><p>Reward Top-up x 365/ Top-up Stake = 7% for Top-up stake</p><p>One key point is the idea that if you have a large amount of base stake, you can charge higher fees to your clients while still providing a good APR. To calculate a client's APR with the real validator fees of P2P at 10% and Palm Tree at 17%, use the following formula:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2577.png" class="kg-image" alt loading="lazy" width="1680" height="331" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2577.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2577.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2577.png 1600w, https://p2p.org/economy/content/images/2023/04/2577.png 1680w" sizes="(min-width: 720px) 720px"></figure><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2579.png" class="kg-image" alt loading="lazy" width="1680" height="974" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2579.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2579.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2579.png 1600w, https://p2p.org/economy/content/images/2023/04/2579.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>We have been delegated approximately 6,000 EGLDs twice. As a result, our overall stake has increased by almost 10%, while our top-up stake has increased by 20%. Although our TVL and share have both increased and our APR has dropped. The Palm Tree Network, on the other hand, has not experienced any major changes in their stake. They only received an additional 1,500 EGLDs, which is approximately 1% of their top-up stake.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2580.png" class="kg-image" alt loading="lazy" width="1680" height="974" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2580.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2580.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2580.png 1600w, https://p2p.org/economy/content/images/2023/04/2580.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>Should a validator increase their Total Value Locked (TVL) if they do not have enough nodes to allocate all stakes? Increasing your Top-up stake may result in a drop in client APR, making you less attractive to potential delegators. However, you must grow your TVL to be profitable or at least cover costs, which is not easy these days. Cryptocurrency prices are not as high as they were a year ago, while infrastructure costs have increased significantly.</p><p>After some research, we have found a solution that may seem strange at first, but will ultimately help us work efficiently, cover all costs, and provide a stable service for our delegators. The solution is to raise fees. While raising fees will increase our income, there is a good possibility that our delegators won't lose in the long run.</p><p>Initially, after the fee raise, our delegators may lose some of their rewards, and we should expect a churn of delegators and TVL. However, just as new delegations become a top-up stake due to a lack of nodes, in the case of an unstake, the top-up stake goes first. As a result, the share of the base stake increases, and the client's APR starts to grow along with the growth of rewards share for the base stake.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2581.png" class="kg-image" alt loading="lazy" width="1680" height="974" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2581.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2581.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2581.png 1600w, https://p2p.org/economy/content/images/2023/04/2581.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>The plot above illustrates how income and APR will change after a fee raise and the next stake churn. The blue vertical line represents our current APR, which is around 8.15%. The lowest blue horizontal curve shows our current state where we have the same fee at 10%, and how income and APR will change if we face churn of stake. Churn will lead us to a situation where our top-up stake and income drops at the same time. However, the client's APR will grow as the share of the base stake grows. The end of the line signals that all top-up stake was unstaked, and we are left only with the base stake. The result is a high client's APR; however, we face a loss of 1/3 of our current income.</p><p>All other lines show the same for different fees. The more fees we take, the more income we have. However, it also provides a very low client's APR, and we have to lose a significant amount of our TVL to return to the situation of our current APR.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/2582.png" class="kg-image" alt loading="lazy" width="1680" height="904" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/2582.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/2582.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/2582.png 1600w, https://p2p.org/economy/content/images/2023/04/2582.png 1680w" sizes="(min-width: 720px) 720px"></figure><p>To give you a better understanding of how it works, we have provided a plot above. The blue line indicates the optimal point for the current APR (~8.15%), which depends on stake, top-up stake, and fee. The top point on the blue line represents the current state with a fee of 10%, stake at 116,000 EGLD, and top-up stake near 71,000 EGLD.</p><p>If we were to raise the fee to 34-35%, we would need to lose nearly half of our stake (55,000 EGLD) to return to the value of 8.15% for the client's APR. This would occur if our TVL dropped to 62,000 EGLD from 116,000 EGLD, and the share of base stake became nearly 70% (currently only 39%).</p><p>However, after some time, the APR will return to its previous values as the share of top-up stake drops.</p><h3 id="future-prospects"><br>Future prospects.<br></h3><p>In the MultiversX network, the amount of staked tokens is rapidly increasing. According to the MultiversX roadmap, liquid staking is coming, which will cause a slight decrease in the average APR across the entire network. It's good that the foundation is not trying to increase the APR, it could affect the stability of the exchange rate and prevent the coin from becoming deflationary.</p><p>The next big change in MultiversX is called "Phase 4", in which the queue will be replaced by the auction list. Validators who are shuffled out of the Eligible list will be moved to this auction list, and only the ones with the highest top-up will be further promoted to the waiting list and made eligible. The amount of base stake per node will remain at 2,500 EGLD. Thus, validators will have the intention to attract delegation, making the field more competitive. This might transform validators into builders, while maintaining high margins for validators.</p><p>As shown in the previous section, P2P.ORG could be more efficient and save the current APR by reducing the TVL and increasing the fee. <strong>On April 25th, P2P.ORG will change the fee to 17%</strong> and for a short period of time, the APR will decrease from 8.1% to 7.5%, but we expect growth to the previous values after some time due to the churn of top-up stake.</p><p>We want to thank all our delegators for their continuous support and for staking with us!</p><p><br></p>
from p2p validator
<h3 id="introducing-our-ethereum-staking-dapp-empowering-users-with-complete-privacy-unmatched-simplicity-ultimate-security-and-zero-fees">Introducing our Ethereum Staking dApp, empowering users with complete privacy, unmatched simplicity, ultimate security and zero fees</h3><p></p><p>We are thrilled to announce the launch of our Ethereum Staking dApp, which is designed to give you the ultimate control over your crypto assets while ensuring complete privacy, autonomy, and security. We have been working diligently behind the scenes to bring you a solution that simplifies the staking process without compromising your privacy.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-12.png" class="kg-image" alt loading="lazy" width="670" height="724" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-12.png 600w, https://p2p.org/economy/content/images/2023/04/image-12.png 670w"></figure><h1 id="staking-dapp-key-features"><strong>Staking dApp Key Features</strong></h1><ol><li><strong>Bunker Security Staking & 100% Slashing Protection</strong>: We understand the importance of security for our users, so we have built an infrastructure with no single point of failure. Our geographically distributed data centres with hot reserves in different countries ensure that your validators will keep working even in worst-case scenarios such as a data centre burning down. Moreover, we have implemented threshold cryptography (similar to multisig) to secure your validator keys. This advanced technology ensures that nobody, not even our P2P engineers, can access your validator keys, thereby adding additional protection against slashing incidents. Furthermore, our Staking dApp offers 100% slashing protection options for a truly worry-free staking experience.</li><li><strong>Stake with just a few clicks</strong>: Really, no human input is needed! Our Staking dApp automates the entire staking process, eliminating the need for human intervention. Our dApp is built on smart contracts, offering a transparent, trustless, and tamper-proof solution for staking your Ethereum assets. Additionally, our Staking dApp allows clients to stake directly from our website with just a few clicks, ensuring an effortless experience without the need for any technical know-how.</li><li><strong>No KYC</strong>: Our dApp ensures that you can stake your Ethereum assets without having to go through the cumbersome KYC (Know Your Customer) process. We respect your right to privacy and offer a seamless user experience without any unnecessary roadblocks.</li><li><strong>No Email Registration</strong>: With our Staking dApp, you no longer need to share your email address to stake your crypto. Just access the dApp through your preferred web3-enabled wallet, and you are ready to stake.</li><li><strong>No AML Risks</strong>: We have designed our Staking dApp to comply with all relevant regulations, mitigating any AML (Anti-Money Laundering) risks while ensuring that your Ethereum staking experience is secure and reliable.</li></ol><h2 id="how-does-it-work">How does it work?</h2><p>By automating the staking process, we have created a permissionless dApp that is both user-friendly and highly secure.</p><p>If you have ever tried to delegate your stake to a staking provider, you are already familiar with the multi-step flow of selecting the amount to stake, setting your withdrawal address, entering an email address, and then… receiving an email from a sales representative for an intro call.</p><p>While we understand the reasoning behind it (we have used a similar flow till now), the improvement opportunities in terms of user experience are massive.</p><p>That’s why, when you stake with our staking dashboard, you can expect to complete the request in just a few clicks:</p><ul><li>Enter the amount to stake and the withdrawable address</li><li>Check your staking details and stake the requested amount</li></ul><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-13.png" class="kg-image" alt loading="lazy" width="670" height="785" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-13.png 600w, https://p2p.org/economy/content/images/2023/04/image-13.png 670w"></figure><ul><li>Sign a transaction with your favourite wallet provider</li><li>Wait for the transaction to be broadcasted to the Ethereum network</li></ul><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/image-14.png" class="kg-image" alt loading="lazy" width="670" height="868" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/image-14.png 600w, https://p2p.org/economy/content/images/2023/04/image-14.png 670w"></figure><ul><li>The request is successfully sent!</li></ul><p>After receiving the request, your validators will be added to the Ethereum entry queue before becoming active (the amount of time depends on the network congestion).<br><br>For those of you that have a Safe wallet, we prepared a guide on how to use it with the dApp.</p><figure class="kg-card kg-video-card"><div class="kg-video-container"><video src="https://p2p.org/economy/content/media/2023/04/howto-eth-p2p-stake-1.mp4" poster="https://img.spacergif.org/v1/1920x1080/0a/spacer.png" width="1920" height="1080" playsinline preload="metadata" style="background: transparent url('https://p2p.org/economy/content/images/2023/04/media-thumbnail-ember272.jpg') 50% 50% / cover no-repeat;"></video><div class="kg-video-overlay"><button class="kg-video-large-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button></div><div class="kg-video-player-container"><div class="kg-video-player"><button class="kg-video-play-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"/></svg></button><button class="kg-video-pause-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><rect x="3" y="1" width="7" height="22" rx="1.5" ry="1.5"/><rect x="14" y="1" width="7" height="22" rx="1.5" ry="1.5"/></svg></button><span class="kg-video-current-time">0:00</span><div class="kg-video-time">/<span class="kg-video-duration"></span></div><input type="range" class="kg-video-seek-slider" max="100" value="0"><button class="kg-video-playback-rate">1×</button><button class="kg-video-unmute-icon"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M15.189 2.021a9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h1.794a.249.249 0 0 1 .221.133 9.73 9.73 0 0 0 7.924 4.85h.06a1 1 0 0 0 1-1V3.02a1 1 0 0 0-1.06-.998Z"/></svg></button><button class="kg-video-mute-icon kg-video-hide"><svg xmlns="http://www.w3.org/2000/svg" viewbox="0 0 24 24"><path d="M16.177 4.3a.248.248 0 0 0 .073-.176v-1.1a1 1 0 0 0-1.061-1 9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h.114a.251.251 0 0 0 .177-.073ZM23.707 1.706A1 1 0 0 0 22.293.292l-22 22a1 1 0 0 0 0 1.414l.009.009a1 1 0 0 0 1.405-.009l6.63-6.631A.251.251 0 0 1 8.515 17a.245.245 0 0 1 .177.075 10.081 10.081 0 0 0 6.5 2.92 1 1 0 0 0 1.061-1V9.266a.247.247 0 0 1 .073-.176Z"/></svg></button><input type="range" class="kg-video-volume-slider" max="100" value="100"></div></div></div></figure><h2 id="free-test-drive-offer">Free Test-drive offer</h2><p>To celebrate the launch of our Staking dApp and the upcoming Shanghai upgrade, we are offering a limited-time promotional period with 0% validator fees until August 1, 2023. This means you can enjoy maximum returns on your staked Ethereum with absolutely no fees.</p><p>And there's more! We have not forgotten our loyal existing clients. If you are a current client and decide to add additional stakes to your account, you will also benefit from the 0% fee promotion. This is our way of thanking you for your continued support and trust in our platform.</p><p>In conclusion, our Ethereum Staking dApp is here to revolutionize the staking experience for Ethereum users. Our commitment to privacy, autonomy, security, and innovation is at the core of our product. We invite you to try out our Staking dApp and join us in this exciting journey towards a decentralized and empowered future.</p><p>If you have any questions or need assistance, please reach out to our BD team! Happy staking, and welcome to the future of Ethereum staking!</p><div class="kg-card kg-button-card kg-align-center"><a href="https://ethereum-staking.p2p.org/?ref=p2p.org" class="kg-btn kg-btn-accent">Stake now</a></div>
from p2p validator
<h1 id="introduction"><strong>Introduction</strong></h1><p>In this post, we will take a deep dive into the Ethereum network during the month of March 2023. Our goal is to provide a comprehensive analysis of the network and its various components. Here are the topics we explore:</p><ul><li><a href="https://p2p.org/economy/ethereum-staking/#:~:text=Ethereum%20staking%20ecosystem.-,Network%20Overview,-As%20of%20March">Network Overview</a></li><li><a href="https://p2p.org/economy/ethereum-staking/#:~:text=Staking%20review%20by%20segment">Review by staking segments</a></li><li><a href="https://p2p.org/economy/ethereum-staking/#:~:text=validators%20is%20public.-,Lido%20operators,-When%20staking%20involves">Lido operators performance</a></li><li><a href="https://p2p.org/economy/ethereum-staking/#:~:text=block%2016867030.-,P2P.org%20overview,-The%20top%203">P2P.org overview</a></li><li><a href="https://p2p.org/economy/ethereum-staking/#:~:text=Tweets%20and%20articles%20of%20the%20month">Best tweets and articles</a></li></ul><p>All the data was sourced from our own validators, <a href="http://beaconcha.in/?ref=p2p.org">beaconcha.in</a> and <a href="https://www.rated.network/?ref=p2p.org">rated.network</a>. We considered only staking providers whose information is publicly available, meaning this list isn’t a complete picture of the Ethereum staking ecosystem.</p><h1 id="network-overview">Network Overview</h1><p>As of March 2023, the total amount of Ethereum staked has reached <strong>17,963,528 ETH</strong>, which is <strong>5.26%</strong> higher than the previous month's total stake. This is a significant increase, demonstrating the growing interest in Ethereum staking. The amount staked now represents approximately <strong>15.04%</strong> of the total circulating supply of Ethereum, which is a strong indication of the confidence that investors have in the platform. It is worth noting that this is a considerable increase from just a few months ago, demonstrating the rapid growth of the Ethereum ecosystem.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/01-Network-Overview-1.png" class="kg-image" alt loading="lazy" width="1996" height="1199" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/01-Network-Overview-1.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/01-Network-Overview-1.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/01-Network-Overview-1.png 1600w, https://p2p.org/economy/content/images/2023/04/01-Network-Overview-1.png 1996w" sizes="(min-width: 720px) 720px"></figure><p>Despite the increase in the total amount of Ethereum staked, the current network-wide average annual percentage rate (APR) for Ethereum staking is around 4.1**%**, which is a 0.0738 percentage point increase from the previous month. The consensus rewards have increased by 0.2518 points, but the execution rewards have decreased by 0.178 points due to the increase in the number of validators in the network. The table below shows the top 5 block MEV rewards.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/02-Network-Overview-2.png" class="kg-image" alt loading="lazy" width="1978" height="669" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/02-Network-Overview-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/02-Network-Overview-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/02-Network-Overview-2.png 1600w, https://p2p.org/economy/content/images/2023/04/02-Network-Overview-2.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>For investors interested in Ethereum staking, it is important to be aware and understand the risks involved. Additionally, during March, 4 <strong>validators</strong> from the network were slashed, one of which belongs to Rocket Pool</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/03-Network-Overview-3.png" class="kg-image" alt loading="lazy" width="1978" height="584" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/03-Network-Overview-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/03-Network-Overview-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/03-Network-Overview-3.png 1600w, https://p2p.org/economy/content/images/2023/04/03-Network-Overview-3.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>This highlights the risks involved in Ethereum staking and the importance of carefully selecting validators to stake with.</p><h1 id="staking-review-by-segment">Staking review by segment</h1><p>The upcoming Shanghai update for Ethereum, scheduled for April 12, has holders of liquid staking tokens eagerly anticipating how the event will impact their holdings. Prior to the update, any ETH deposits into these protocols could not be withdrawn from Ethereum's deposit-only Proof-of-Stake (PoS) system. After the Shanghai event, users will be able to unstake their ETH, sell their stakes, or migrate to a different staking service.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/04-Staking-review-by-segment-1.png" class="kg-image" alt loading="lazy" width="1978" height="912" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/04-Staking-review-by-segment-1.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/04-Staking-review-by-segment-1.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/04-Staking-review-by-segment-1.png 1600w, https://p2p.org/economy/content/images/2023/04/04-Staking-review-by-segment-1.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>For the current period, liquid staking increased to a total of 33.33%. This value is 2.38 points higher than at the beginning of the year. Conversely, CEX stacking has decreased to 27.27%, which is 2.31 points lower than at the beginning of the year. Staking pools and unidentified validators have remained almost unchanged, at 16.97% and 22.43% respectively. As we can see, at the end of February there was a big amount of ETH deposited, one of them is the largest single daily inflow ever on the Lido platform in the amount of 150,000 ETH.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/05-Staking-review-by-segment-2.png" class="kg-image" alt loading="lazy" width="1978" height="1048" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/05-Staking-review-by-segment-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/05-Staking-review-by-segment-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/05-Staking-review-by-segment-2.png 1600w, https://p2p.org/economy/content/images/2023/04/05-Staking-review-by-segment-2.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>Lido is the largest liquid staking platform, which currently has over 31% of all staked ETH. Lido's popularity can be attributed to its ease of use and its ability to provide users with a flexible and secure way to stake their ETH. It is challenging to de-anonymize all validators, including their owners and whether they belong to centralized exchanges, staking pools or e.t.c. However, with Lido, all the information about the validators is public.</p><h2 id="lido-operators">Lido operators</h2><p>When it comes to ETH staking we should not only consider the APR as an important metric but also take into account validator effectiveness, which can be an even more accurate metric. Validator effectiveness indicates how much of your validator balance is being used for attestations, and is calculated as the effective balance as a fraction of the total balance. <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> published an article explaining why validator effectiveness is a better metric than APR, and providing tips on how to choose the best staking operator.</p><p>In this regard, two of the highest-performing validators in the market are Allnodes and Attestant. These validators have an effectiveness rating of 97.25%, which means they are highly efficient in terms of attestation.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/06-Lido-operators.png" class="kg-image" alt loading="lazy" width="1978" height="1044" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/06-Lido-operators.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/06-Lido-operators.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/06-Lido-operators.png 1600w, https://p2p.org/economy/content/images/2023/04/06-Lido-operators.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>The top 3 by validator effectiveness is <strong><a href="http://p2p.org/?ref=p2p.org">P2P.org</a></strong> with the highest APR in the top 5 effectiveness rating over the last 30 days. We will explore this in more detail in the next section.</p><p>We would also like to note that Staking Facilities and Everstake had the highest APR in March. Staking Facilities has an APR of 9.96%, with an execution APR of 6.07%. This value is approximately 50% higher than their average APR, due to a very large MEV block reward of around 692 ETH for block <a href="https://beaconcha.in/block/16867030?ref=p2p.org">16867030</a>.</p><h1 id="p2porg-overview">P2P.org overview</h1><p>The top 3 by validator effectiveness is <strong><a href="http://p2p.org/?ref=p2p.org">P2P.org</a></strong> with the highest APR in the top 5 effectiveness rating over the last 30 days.</p><h2 id="rewards">Rewards</h2><p>For March, all active validators on the network generated a mean rewards rate of 0.1345 ETH. The average reward of P2P’s validators was 0.1386 ETH, around 3% higher than the mean performance of all the active validators on the network</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/07-AVG-validator-rewards.png" class="kg-image" alt loading="lazy" width="1978" height="649" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/07-AVG-validator-rewards.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/07-AVG-validator-rewards.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/07-AVG-validator-rewards.png 1600w, https://p2p.org/economy/content/images/2023/04/07-AVG-validator-rewards.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>This is mostly due to P2P's enterprise-grade infrastructure, which maximizes node uptime and rewards, while also utilizing MEV-Boost to extract additional value during block production.</p><h2 id="consensus-performance">Consensus performance</h2><p>The primary metric commonly used when choosing a staking provider is APR. However, due to Ethereum’s complex rewards structure, it’s better to compare staking providers by their validator’s effectiveness rather than APR. We conducted extensive research on the topic, and you can read about it <a href="https://www.stakingrewards.com/journal/choosing-the-best-using-metrics-and-data-to-choose-the-right-ethereum-validator/?ref=p2p.org">here.</a></p><h3 id="earned">Earned</h3><p>Validators may receive fewer consensus rewards due to missed attestations and errors that result in penalties. Here, we compare the average share of rewards of the network and <a href="http://p2p.org/?ref=p2p.org">P2P.org</a>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/08Earned.png" class="kg-image" alt loading="lazy" width="1978" height="1225" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/08Earned.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/08Earned.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/08Earned.png 1600w, https://p2p.org/economy/content/images/2023/04/08Earned.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>The network average share of consensus layer rewards was 98.29%, while that of <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> is 99.18%, which is 0.89 percentage points above the network average</p><h3 id="attestation-rate-correctness">Attestation rate & correctness</h3><p>The attestation rate measures how often a validator successfully attests new proposed blocks to the rest of the network. If a validator is down or cannot attest blocks for other reasons, its attestation rate and, therefore, rewards will decrease. Attestation correctness is another essential metric to consider, as it measures the accuracy of a validator's attestation. Validators must attest to the correct block or face penalties, including potential slashing. Accurate attestations are crucial for maintaining the integrity and security of the Ethereum network, making attestation correctness an essential metric to consider.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/09-Attestation-rate.png" class="kg-image" alt loading="lazy" width="1978" height="1074" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/09-Attestation-rate.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/09-Attestation-rate.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/09-Attestation-rate.png 1600w, https://p2p.org/economy/content/images/2023/04/09-Attestation-rate.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>In March, the network's average attestation rate was approximately 99.6%, while P2P's attestation rate was 99.98%, which is 0.38% higher than the network average. The network's average attestation correctness was approximately 98.91%. Meanwhile, P2P's attestation rate was 99.36%, which is 0.45% higher than the network average.</p><h2 id="execution-performance">Execution performance</h2><p>The execution layer is the layer on the Ethereum blockchain that provides the environment for applications and smart contracts to operate and process transactions within and between applications. In general, there are two types of execution layer rewards: transaction priority tips and MEV tips.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/10-Execution-performance.png" class="kg-image" alt loading="lazy" width="1978" height="457" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/10-Execution-performance.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/10-Execution-performance.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/10-Execution-performance.png 1600w, https://p2p.org/economy/content/images/2023/04/10-Execution-performance.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>There is a high risk of missing a block when the MEV relay proposes it for an extended period of time. Therefore, we create the block ourselves, which is why we haven't achieved 100% success rate. In March 2023, <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> had 96.4% of the MEV blocks, with 3052 proposed blocks and a proposal rate of 99.97%. Here are the top 5 blocks with the highest MEV rewards:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/11-to-5-mev.png" class="kg-image" alt loading="lazy" width="1978" height="657" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/11-to-5-mev.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/11-to-5-mev.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/11-to-5-mev.png 1600w, https://p2p.org/economy/content/images/2023/04/11-to-5-mev.png 1978w" sizes="(min-width: 720px) 720px"></figure><h3 id="slashing">Slashing</h3><p>A slashing event occurs when a validator misbehaves on the network. This is the most severe penalty a validator can suffer, and it results in the loss of a portion of their staked tokens.</p><p>During March, P2P had no slashing occurrences. We are proud to maintain a flawless record of zero slashing events throughout our time running Ethereum validators.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/12-Execution-performance--1-.png" class="kg-image" alt loading="lazy" width="1978" height="509" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/12-Execution-performance--1-.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/12-Execution-performance--1-.png 1000w, https://p2p.org/economy/content/images/size/w1600/2023/04/12-Execution-performance--1-.png 1600w, https://p2p.org/economy/content/images/2023/04/12-Execution-performance--1-.png 1978w" sizes="(min-width: 720px) 720px"></figure><p>P2P operates validator infrastructure securely, to minimize the risk of being slashed, and provides coverage to mitigate any losses in the event of a slashing incident.</p><h1 id="tweets-and-articles-of-the-month">Tweets and articles of the month</h1><p><br>Check out P2P.org best tweets and articles for March 2023</p><ol><li> <strong>A deep dive into withdrawals</strong>. What will the post-Shapella market look like? We researched the market landscape and withdrawal documentation comprehensively to highlight the pitfalls and insights about the upcoming changes. <a href="https://twitter.com/P2Pvalidator/status/1643974124145102849?ref=p2p.org">Read the Twitter thread and check the full post here</a></li><li><strong>Choosing the best validator</strong>. Dive into our ultimate guide on choosing the best Ethereum validator for the Shanghai update Metrics, slashing insurance, SLA & more. <a href="https://www.stakingrewards.com/journal/choosing-the-best-using-metrics-and-data-to-choose-the-right-ethereum-validator/?ref=p2p.org">Read article</a></li><li><strong>Calculate possible APR</strong>. Ethereum APR is highly influenced by random factors like the number of blocks created or MEV. But how do you know if your APR is good or not? We've developed an advanced APR simulator, that calculates the average expected APR and possible deviations. <a href="https://p2p.org/networks/ethereum/apr-simulator?ref=p2p.org">Try it out</a></li></ol>
from p2p validator
<h3 id="what%E2%80%99s-this-article-about">What’s this article about?</h3><p>The Shapella upgrade brings significant changes to the Ethereum network, introducing new withdrawal options for validators in the form of full withdrawals and partial withdrawals. This article delves into the details of withdrawal eligibility, the step-by-step process for withdrawals, and what to expect in the immediate, mid-term, and long-term future. We also explore the potential impact on the activation queue, withdrawal queue, and APR dynamics, as well as the various factors that may influence these aspects of the Ethereum ecosystem.</p><h3 id="table-of-contents">Table of contents</h3><ul><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=Influence%20Your%20Return-,Uncovering%20Withdrawals%3A%20Key%20Information%20You%20Should%20Know,-The%20Shapella%20upgrade">Uncovering Withdrawals: Key Information You Should Know</a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=the%20exit%20queue.-,The%20Withdrawal%20Process%20Step%2Dby%2DStep,-Active%20validators%20can">The Withdrawal Process Step-by-Step</a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=More%20about%20the%20withdrawal%20eligibility">Is Your Validator Ready for Withdrawals? </a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=eligible%20for%20withdrawals.-,Navigating%20the%20Post%2DShapella%20Market,-Immediately%20(first%20days">Navigating the Post-Shapella Market: A Comprehensive Overview</a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=after%20the%20Shapella.-,Anticipating%20the%20Withdrawal%20Queue%3A%20What%20to%20Expect,-Various%20factors%20affect">Anticipating the Withdrawal Queue: What to Expect</a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=end%20of%20July.-,Forecasting%20the%20Activation%20Queue%3A%20Preparing%20for%20the%20Future,-The%20current%20percentage">Forecasting the Activation Queue: Preparing for the Future</a></li><li><a href="https://p2p.org/economy/the-shapella-upgrade-a-deep-dive-into-withdrawals/#T2:~:text=beginning%20of%20July.-,Post%2DShapella%20APR%3A%20Factors%20That%20Will%20Influence%20Your%20Return,-Since%20the%20activation">Post-Shapella APR: Factors That Will Influence Your Return</a></li></ul><h3 id="uncovering-withdrawals-key-information-you-should-know">Uncovering Withdrawals: Key Information You Should Know</h3><p>The Shapella upgrade introduces two types of withdrawals: full withdrawals (also known as exits) and partial withdrawals (staking reward collection).</p><p>Core withdrawal concepts</p><ol><li>Withdrawal eligibility. Not every validator can withdraw immediately after the Shapella upgrade, as only validators with 0x01 format withdrawal addresses are eligible. Validators with old 0x00 format addresses (58% of the total) need to switch to the new format, a process that will take approximately three days. So if you have 0x01 format, you have an advantage over other validators to exit with a minimal queue.</li><li>Full withdrawals involve validators withdrawing their entire stake after passing through an exit queue (dependent on the number of validators wishing to exit) and a withdrawal period (1-5 days). This process prevents sudden changes in validator numbers, ensuring network security.</li><li>Partial withdrawals automatically withdraw accumulated staking rewards (balances over 32 ETH) if validators possess the required withdrawal credentials. Right after the Shapella update, this process will take around 2 days since some validators are not eligible for withdrawals. But this is temporary, and in the near future partial withdrawals should be expected every 5 days.</li><li>You will continue to earn staking rewards while you wait in the exit queue.</li></ol><h3 id="the-withdrawal-process-step-by-step">The Withdrawal Process Step-by-Step</h3><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/01.png" class="kg-image" alt loading="lazy" width="1578" height="988" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/01.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/01.png 1000w, https://p2p.org/economy/content/images/2023/04/01.png 1578w" sizes="(min-width: 720px) 720px"></figure><ol><li>Active validators can earn rewards and perform partial withdrawals.</li><li>To perform a full withdrawal, validators initiate a voluntary exit and enter the exit queue. The exit queue works on a first-in, first-out (FIFO) basis and limits the number of validators that can withdraw every epoch to a dynamic churn limit. The minimum churn limit is set to four. Currently, for 560k validators, it’s 8 validators per epoch (or 1800 validators / 57.6k ETH daily)</li><li>Validators enter a waiting period to ensure no malicious activity. This is approximately 27 hours if not slashed, and 36 days if slashed. After the waiting period, the stake becomes withdrawable.</li><li>All withdrawals, both full and partial, are processed sequentially at a rate of 16 validator addresses per block, amounting to 115k validators daily. Each validator has a designated position in this withdrawal queue. The queue operates in a loop, starting from the beginning after each cycle. It takes 5 days to complete one rotation. Consequently, the maximum waiting time for this withdrawal step is 5 days, while the minimum waiting time can be just a few minutes if the validator completes step 3 (waiting 27 hours) right before their turn for withdrawal.</li></ol><div class="kg-card kg-callout-card kg-callout-card-green"><div class="kg-callout-text">P2P.org is fully prepared for the Shapella update, and once it occurs, the platform will enable you to initiate a full withdrawal with just two clicks.</div></div><h3 id="more-about-the-withdrawal-eligibility">More about the withdrawal eligibility</h3><p>Validators must use withdrawal credentials with the 0x01 format, introduced in March 2021, to be eligible for withdrawals. Validators with the older 0x00 format will be able to switch to the 0x01 format after the Shanghai upgrade, limited to 16 switches per block. It may take two days for every validator to switch their credentials and another two to three days for most staking rewards to be withdrawn.</p><div class="kg-card kg-callout-card kg-callout-card-green"><div class="kg-callout-text"><a href="http://p2p.org/?ref=p2p.org">P2P.org</a> has 0x01 format by default, so if you stake with us, you are already eligible for withdrawals.</div></div><h3 id="navigating-the-post-shapella-market">Navigating the Post-Shapella Market</h3><ul><li><strong>Immediately (first days)</strong> after the Shapella upgrade, we expect only a limited number of validators to exit, as 58% of the total will lack the necessary withdrawal credentials. Substantial partial withdrawals should occur in the following days. We assume that half of the partial withdrawals (550k ETH) will be restaked in order to get more rewards, remaining 550k ETH will likely be sold to pay taxes, which may temporarily cause price pressure.</li><li><strong>Mid-term (around 3 months)</strong>, there will be large stake movements with the maximum possible full withdrawal limit reached and new validators (with long queues). The main factors will be a regulatory crackdown on CEX staking, switching staking providers, complete withdrawals, and staking of accumulated rewards. While waiting in the long activation queue (up to 20 days), validators don't receive any rewards. This is likely to lead to higher demand for liquid staking. It generates yield immediately after staking, distributing rewards among all staking derivatives holders. However, the downside of this feature is a reduced average APR for all liquid stakers (even for those who staked before the Shapella update). As a result, direct staking will generate a higher yield in the upcoming months.</li><li><strong>Long-term (several years)</strong>, we expect that the reduced risk associated with the enabling of withdrawals will bring more adoption but a corresponding drop in APR, which will conversely slow the adoption rate. The two factors balance each other out. Nevertheless, we estimate that 30% of ETH will be staked by the end of 2024 and 50% within 5 years (more on this below)</li></ul><div class="kg-card kg-callout-card kg-callout-card-green"><div class="kg-callout-text">There will be significant increased activation and withdrawal queues first 3 month after the Shapella.</div></div><h3 id="anticipating-the-withdrawal-queue-what-to-expect">Anticipating the Withdrawal Queue: What to Expect</h3><p>Various factors affect the demand for staking withdrawals. We have selected the most important ones, in our opinion, and tried to evaluate their effect on the market:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/02.png" class="kg-image" alt loading="lazy" width="1578" height="1030" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/02.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/02.png 1000w, https://p2p.org/economy/content/images/2023/04/02.png 1578w" sizes="(min-width: 720px) 720px"></figure><p>Below we have analyzed our assumptions in detail:</p><ol><li><strong>Regulatory crackdown on CEX staking</strong>: Kraken's recent fine by the SEC has led to the exchange winding down its US staking operations. We already know that Kraken will withdraw US investors' staked ETH shortly after Shapella, which represents approximately 400k ETH (2% of total staked ETH). Other CEXs may be more likely to withdraw a significant part of their staked ETH as well. However, this stake will likely be quickly restaked.</li><li><strong>Withdrawals to switch staking providers</strong>. There are numerous reasons to change staking providers, and we assume that at least 20% of validators will do it shortly (first three month)<br><br>2.1. Disliking validator performance: For example, around 8% of validators have effectiveness <a href="https://www.rated.network/?network=mainnet&view=pool&timeWindow=30d&page=1&ref=p2p.org">significantly lower</a> than the network average. <a href="https://www.rated.network/relays?network=mainnet&timeWindow=30d&ref=p2p.org">Some providers</a> don't have MEV-boost at all (10%) or use a limited number of MEV relays (10%). Additionally, <a href="https://www.rated.network/?network=mainnet&view=pool&timeWindow=30d&page=1&ref=p2p.org">8% don’t have</a> client diversity. All of the above is not necessarily a bad thing. The validator may have a super secure setup that reduces performance or a principled position to censor/not censor transactions. Our point is that more than half of the validators have been staking for over a year (before the merge and the appearance of MEV, at least). Therefore, disagreement with the provider's approaches is quite possible. <br><br>2.2. CEXs risks: The recent <a href="https://www.investopedia.com/what-went-wrong-with-ftx-6828447?ref=p2p.org">FTX</a> collapse and <a href="https://blog.kraken.com/post/17619/settlement/?ref=p2p.org">Kraken</a> unstake of all U.S. client assets cases have reminded us of custody risks. Currently, 27.3% of ETH is <a href="https://dune.com/hildobby/eth2-staking?ref=p2p.org">staked by CEXs</a>, and some part of that will be restaked.<br><br>2.3. Solo stakers may exit and stake their ETH with Liquid-staking derivatives (LSDs), as it is a better deal for them. It's hard to estimate the number of solo stakers, but according to our research of ETH deposits, approximately 350k ETH came from separate different addresses in the last three months alone (32 ETH per address). So, solo stakers likely account for 5-10% of validators in total, at least.<br><br>2.4. Switching LSDs to direct staking in favour of diversification: Currently, Liquid staking accounts for 33% of the total stake and seems to be increasing its market share. Despite good diversification in the validator pool, Liquid staking carries additional smart contract risk. Since it will be possible to unstake ETH, a good strategy would be to diversify and restake some amount of ETH in non-custodial direct staking services.</li><li><strong>One-time withdrawal of ETH</strong>, reflecting the need that has accumulated over two years: Staked ETH has been locked for more than 2 years, a considerable period in the blockchain world, during which many circumstances could have changed. Bankruptcy, alterations in portfolio strategy, and other situations may necessitate the sale of ETH. Based on Polkadot and Solana's largest unstakes (10-15% of the total stake within a month), we believe it's fair to assume that at least 10% of the stake will be withdrawn as soon as such an opportunity becomes available.</li><li><strong>Regular organic withdrawals.</strong> According to the Polkadot benchmark, there is evidence of organic stake/unstake movements. Polkadot's historical median value of unstaking is 0.04% daily, which amounts to 15% yearly. We cannot directly apply this benchmark to Ethereum, as it differs in terms of its popular liquid staking option (those who do not want to hold a stake for an extended period can use liquid staking). However, we believe it's reasonable to assume an organic unstaking rate of around 10% per year for Ethereum.</li></ol><p>Considering the assumptions above and the fact that the maximum unstake bandwidth is 57.6k ETH daily, we’ve calculated the potential exit queue for the upcoming month.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/03.png" class="kg-image" alt loading="lazy" width="1578" height="1049" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/03.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/03.png 1000w, https://p2p.org/economy/content/images/2023/04/03.png 1578w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-green"><div class="kg-callout-text">By the beginning of May, total exit time probably will increase to 30 days and will remain at this level until the end of July.</div></div><h3 id="forecasting-the-activation-queue-preparing-for-the-future">Forecasting the Activation Queue: Preparing for the Future</h3><p>The current percentage of staked ETH is low (15%) compared to other chains like Solana (68%) and Polygon (43%). The Shanghai upgrade should unlock pent-up demand from investors who have been reluctant to lock their ETH. A larger proportion of staked ETH will provide greater network security over time.</p><p>Yields from staking are higher than those from the largest and safest DeFi protocols. After the Shanghai upgrade, the risk of locking funds through staking will decrease, making it more attractive to investors.</p><p>In addition, partial withdrawals allow validators to withdraw rewards regularly and restake them, utilizing compounding. Validators can restake these rewards promptly to maximize their returns.</p><p>Until now, staked ETH has increased fairly linearly over time: +6 pp. to the staking ratio yearly (or around 220k new validators per year). But we believe that the <strong>Shapella update is a game-changer, and we will see accelerated organic growth</strong> (up to 440k new validators or 14M ETH per year).</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/04.png" class="kg-image" alt loading="lazy" width="1578" height="1030" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/04.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/04.png 1000w, https://p2p.org/economy/content/images/2023/04/04.png 1578w" sizes="(min-width: 720px) 720px"></figure><p>Other factors affect the activation queue</p><ol><li><strong>Staking of accumulated rewards</strong>: after partial withdrawals, validators may choose to restake their rewards in new 32 ETH units to generate additional yield. Now there are approximately 1.1M ETH rewards locked, and these will be withdrawn within the first week following Shapella. Most likely half of them will go to taxes, half will be staked.</li><li><strong>ETH restaked from Kraken unstake</strong>. 400k ETH within 3 months.</li><li><strong>ETH restake from switching staking providers</strong>. 3.5M within 3 months.</li></ol><p>Applying these assumptions to activation queue bandwidth (57.6k ETH daily), we are getting the following activation queue projections:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/05.png" class="kg-image" alt loading="lazy" width="1578" height="1049" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/05.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/05.png 1000w, https://p2p.org/economy/content/images/2023/04/05.png 1578w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-green"><div class="kg-callout-text">Total activation time is projected to increase steadily up to 10 days at the beginning of May and 25 days at the beginning of July.</div></div><h3 id="post-shapella-apr-factors-that-will-influence-your-return">Post-Shapella APR: Factors That Will Influence Your Return</h3><p>Since the activation and exit queues have similar bandwidth, and based on the assumptions mentioned above, during the first 3 months after Shapella, we can expect to see a stable number of active validators (57.6k ETH activations / 57.6k ETH exits daily). This leads to a consistent APR, as the number of active validators is one of the main factors influencing rewards. The more validators there are, the fewer rewards each of them receives.</p><p>Below is the APR baseline forecast that takes into account a limited number of factors. It may not be entirely accurate, as many other factors can significantly impact rewards. Nevertheless, it is interesting to consider the trends as a baseline scenario.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2023/04/06.png" class="kg-image" alt loading="lazy" width="1578" height="1049" srcset="https://p2p.org/economy/content/images/size/w600/2023/04/06.png 600w, https://p2p.org/economy/content/images/size/w1000/2023/04/06.png 1000w, https://p2p.org/economy/content/images/2023/04/06.png 1578w" sizes="(min-width: 720px) 720px"></figure><p>Regarding the other factors not accounted for in the baseline scenario:</p><p><strong>Factors that may increase rewards:</strong></p><ul><li>Increased DeFi activity after the update, potentially contributing to a period of higher execution rewards and APR immediately following Shapella.</li><li><a href="https://www.eigenlayer.xyz/?ref=p2p.org">Eigenlayer</a> mainnet release. Restaking will enable staked ETH to be used as cryptoeconomic security for protocols other than Ethereum, in exchange for protocol fees and rewards.</li></ul><p><strong>Factors that may decrease rewards:</strong></p><ul><li>A large influx of new validators may temporarily reduce the effectiveness of current validators due to increased attestation propagation time, affecting consensus rewards.</li><li>The average liquid staking APR for the first three months is likely to be lower than for those staked directly before Shapella (due to reward distribution among all pool members, even if their validators are not yet active).</li><li>The lengthy activation queue will implicitly impact those staked directly after Shapella, as validators do not receive any rewards while waiting for activation.</li><li>A shift of transactions from Ethereum to L2, leading to decreased priority fees & MEV rewards.</li></ul><h3 id="conclusion-navigating-the-shapella-upgrade"><strong>Conclusion: Navigating the Shapella Upgrade</strong></h3><p>The Shapella upgrade presents both challenges and opportunities for validators. To maximize benefits, validators should ensure they possess the necessary 0x01 withdrawal credentials, plan their withdrawal strategies, and be prepared for potential market fluctuations. By understanding the withdrawal process and adapting to the changing landscape, validators can ensure a successful experience with the Shapella upgrade.</p><hr><h3 id="more-about-ethereum">More about Ethereum</h3><ol><li><a href="https://www.stakingrewards.com/journal/choosing-the-best-using-metrics-and-data-to-choose-the-right-ethereum-validator/?ref=p2p.org">Choosing the Best</a>: Using Metrics and Data to Choose the Right Ethereum Validator.</li><li><a href="https://p2p.org/networks/ethereum/apr-simulator?ref=p2p.org">P2P.org APR simulator</a> that calculates the average expected APR and possible deviations.</li><li><a href="https://ethereum-staking.p2p.org/?ref=p2p.org">Institutional Ethereum Staking with P2P.org</a></li></ol>
from p2p validator
<p>We are excited to announce that the Tezos Mumbai upgrade has successfully passed and is now fully operational on Mainnet.</p><p>The Tezos Mumbai upgrade brings with it a host of new features and improvements, including:</p><ul><li>Epoxy - Tezos Validity Rollup (aka ZK-rollup) solution, allowing for instant finality due to SNARK’s proof-of-validity.</li><li>Reduced block time to 15 seconds, thanks to improved pipelining.</li><li>Ticket transfers between accounts, including implicit accounts.</li><li>New RPCs for ticket balances, improving ticket ownership visibility.</li><li>New Michelson operations, allowing for logical operations on bytes.</li></ul><p>The Mumbai upgrade also includes the activation of <strong>Smart Rollups on Mainnet, a powerful scaling solution</strong> that allows anyone to deploy decentralized WebAssembly applications with dedicated computational and networking resources. Furthermore, the <strong>upgrade disables Transaction Optimistic Rollups on Mainnet</strong>, as these can now be easily implemented through Smart Rollups.</p><p>In addition to the successful upgrade of the Tezos network, we are pleased to announce that our <strong>baker infrastructure has been upgraded as well</strong>. Our bakers have completed the necessary upgrades to ensure that they are able to continue providing secure and reliable services to XTZ stakers.</p><p>To learn more about the Tezos Mumbai update, check out the full preview post on the<a href="https://research-development.nomadic-labs.com/mumbai-preview.html?ref=p2p.org"> Tezos website</a>. The<a href="https://tezos.gitlab.io/protocols/016_mumbai.html?ref=p2p.org"> changelog</a> provides a detailed list of changes, and a general technical overview of Mumbai can be found in the protocol proposal’s<a href="https://tezos.gitlab.io/mumbai/protocol.html?ref=p2p.org"> technical documentation</a>.</p><p><em>This is a joint post from Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda & Functori.</em></p><h1 id="about-p2p"><strong>About P2P</strong></h1><p>P2P Validator began in 2018 with a mission to positively influence the development of POS technologies. At the time of the latest update, more than 750 million USD value is staked with P2P Validator by over 35,000 delegators across 40+ networks. We work closely with each network we support to push the developments of each project to new limits.</p>
from p2p validator
<p>This article will guide you through the process of staking KYVE using the Keplr wallet.</p><p>KYVE gives users customized access to blockchain’s data (not only Cosmos) by providing fast and easy tooling via PoS blockchain for decentralized data validation, immutability, and retrieval based on Cosmos SDK.</p><p>In this article we will guide you through the process of staking KYVE using the Ping explorer or any other explorer with stake functionality:</p><p><a href="https://explorer.kyve.network/kyve/staking?ref=p2p.org">https://explorer.kyve.network/kyve/staking</a></p><p>First of all, you need to connect your wallet on the top right of the page and make sure you have some $KYVE available to delegate. </p><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/Av6kHQi07_mkNvfN9lb58Kxct8teMVrBa-mxTdQecCozkedJw2bcQz34n1DwXC6-6xsGpqK7jgFc7D6OAoRz08vsPayecqj6jfpjP2S-vc0P49ZTOy4ZAKTLBVEOfVxHNhdRbJno7nndNtQDN_MY6hw" class="kg-image" alt loading="lazy" width="602" height="172"></figure><p>Right now you can only stake KYVE with a Keplr wallet or with a leger wallet:</p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/bM9baxc4J3zeG74nwxEKlTKsuNBApO_H8qbOxE2mjKSZVUxjqj12eZ4cI14xnrl7ChvRnL6Jljqnrau8zfqP1ihJZfvw5P4jxfu5-klsn9c6I7sJquoTdQBKPd38fuQCm9Utinu9r2WHQkLiUp0lgnk" class="kg-image" alt loading="lazy" width="602" height="236"></figure><p>After picking your device, create an account:</p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/FZFavzQvGjCWqm3pZaQN6pf0Vf-EGcV4D9uZoSejXYFvD6bn2EJb1fK8r3NoT2c_ccApMmKxoevfhJifJnwgxcOm00cyyjH_BtqBaixpOnWzwk0sPIVJrP0UhqONhKdjs49Jv5E_Li69Zyp9GvMRDeY" class="kg-image" alt loading="lazy" width="602" height="271"></figure><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/v0QOszJeoryhJVUSSbHv_jZZ4S7BbpcG9_J6q5RHTSWxKW-j-7Vjpbzeg9oq1LpnIXfRZbOQxvP1alIMI2BRMF6P7KCVSLOU5q9W1YZi3FMefYlNgYMfj1p6gtnZjHEuDdzHPfTeaapjcVQWO9SW2AU" class="kg-image" alt loading="lazy" width="602" height="201"></figure><p>After connecting your wallet and creating an account, navigate to the staking page:</p><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/uFWomV36uL4dk0oz2TFv_Hk4cKCTGC6gI4ZKFPSwf47WwlyDNvsyGvOoGsieAEXscFYrwxC_oskIoAd_n0vAq_FOIDk7gpELcuZyWA3xC_Iv60YbPIqi4GlC-0M8BkQlLtAqnx5C4TTEwJ5MxSuyacE" class="kg-image" alt loading="lazy" width="602" height="172"></figure><p>On the 'Staking' page, you need to find “<a href="https://explorer.kyve.network/kyve/staking/kyvevaloper1etduu5zlu4k20ph6uyyldw29ydua3ym0urmq0r?ref=p2p.org">P2P.ORG Validator</a>” from the list of validators. To delegate, click on the validator name or on the right button 'Delegate':</p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/tFcNlbUhpY-cJ6fSU6gVVaWNAp9v2lvCI_ii-gy9a0pdoUgZZ1jfYbhO3CbIroHEC1SwtB5QZ377afGvR6BYLjydniMNV_s6cjDoLcm-3yOoyCbd218J_UIQSC2lPN8-FQ_GWZBfprkYHEX7AWCvbJs" class="kg-image" alt loading="lazy" width="602" height="173"></figure><p>A new window will pop up asking you to input the number of tokens you want to stake. Press “Send” to finish the delegation:</p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/iL5aiTJzR6Jm_WoxyAs1HJakaaUY4QoSKz76GJzXje9R17r9aW57gILF7-JqF9ncGMYnW0CbTW9uz_J6e0tpGtcs-ntK91lj8b4MajgUYjA9CYxvCs1-BA1HWW7vH5Z4qgLy_EWKQ0LdJBOjqcBAvhs" class="kg-image" alt loading="lazy" width="580" height="500"></figure><p>You are all done. Your KYVE is now delegated to P2P!</p><hr><h2 id="about-p2p-validator">About P2P Validator</h2><p>P2P Validator is a world-leading staking provider with the best industry security practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities. At the time of the latest update, more than three billion of USD value is staked with P2P Validator by over 10,000 delegators across 25+ networks. Our infrastructure is under advanced monitoring with alerts and 24/7 technical support making it the best choice for institutional investors.</p><hr><p>Web: <a href="https://p2p.org/?ref=p2p.org">p2p.org</a><br>Twitter: <a href="https://twitter.com/P2Pvalidator?ref=p2p.org">@p2pvalidator</a><br>Telegram: <a href="https://t.me/P2Pstaking?ref=p2p.org">t.me/P2Pstaking</a></p>
from p2p validator