<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
<h3 id="eigen-layer-restaking-is-now-live"><br>Eigen Layer restaking is now live!</h3><p>EigenLayer has <a href="https://twitter.com/eigenlayer/status/1669065156427681792?s=20&ref=p2p.org">successfully launched</a> Stage 1 of their Mainnet. This is a significant milestone, and <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> is 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 later 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 was 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 afterward! The team promises to increase limits progressively over the coming weeks and months.</p><p>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.</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 can restake your ETH on the EigenLayer network using the <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> staking dApp. Our dApp, which is non-custodial, supports the option to customize validator withdrawal addresses—a fundamental necessity for directly restaking to an EigenPod. Suppose you don't already have an EigenPod address. In that case, we are excited to announce a new feature where users can generate their own EigenPod address directly within the staking process in our dApp!<br><br><strong>Below, we have prepared a step-by-step guide on how to do this.</strong> 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">The withdrawal address is used to get your ETH deposit back. It's 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 your EigenPod Address as a withdrawal address, you accept EigenLayer smart contract risk and understand that <a href="https://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> can't change this address.</div></div><p>How to restake if you don't already have an Eigenpod address:<br><br>1. First, visit our Ethereum staking dApp at <a href="https://eth.p2p.org/?ref=p2p.org">eth.p2p.org</a> and connect a Web3 wallet.</p><p>2. After connecting to the Web3 wallet, enter in the field the amount of ETH you want to stake, for example, 32 ETH. Under the field, you will see option Eigenlayer restaking with the checkbox:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/Untitled-35.png" class="kg-image" alt loading="lazy" width="978" height="832" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/Untitled-35.png 600w, https://p2p.org/economy/content/images/2024/02/Untitled-35.png 978w" sizes="(min-width: 720px) 720px"></figure><p><br>3. Activate the checkbox (blue = activated). After you activate the checkbox, note that the button "Continue" below the screen switched to "Create Eigenpod address":</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/Untitled-36.png" class="kg-image" alt loading="lazy" width="984" height="842" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/Untitled-36.png 600w, https://p2p.org/economy/content/images/2024/02/Untitled-36.png 984w" sizes="(min-width: 720px) 720px"></figure><p>4. Now, we need to create an Eigenpod address by pressing the following button. The creation of an Eigenpod address happens by calling the Eigenlayer smart contract. As the user requests the calling of a smart contract in the Ethereum network, you must pay Gas for the Eigenpod transaction and sign it in your wallet.</p><p>5. After the user has signed the transaction, the Eigenpod address will be created, and its withdrawal credentials will be automatically filled in the 'Withdrawal address' field in 'Advanced settings.' Pressing the Continue button to continue the process:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/Untitled-37.png" class="kg-image" alt loading="lazy" width="976" height="1330" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/Untitled-37.png 600w, https://p2p.org/economy/content/images/2024/02/Untitled-37.png 976w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-emoji">⚠️</div><div class="kg-callout-text">Based on the Eigenlayer system design, you will receive CL rewards on the created EigenPod address, while your EL rewards will be sent to Eigenpod’s owner address (the wallet you used to create Eigenpod). Since you are using our flow, your Eigenpod owner’s address is the one you are connected to our dApp during this staking process.</div></div><p>6. The system will start the staking process and will show you the final staking details. Review details, and press the 'Stake' button.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/Untitled-38.png" class="kg-image" alt loading="lazy" width="974" height="1310" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/Untitled-38.png 600w, https://p2p.org/economy/content/images/2024/02/Untitled-38.png 974w" sizes="(min-width: 720px) 720px"></figure><p>7. The dApp will ask you to sign the transaction with your Web3 wallet. After signing and the transaction pending, the system will confirm that your stake is done successfully!</p><h3 id="watch-a-video-tutorial-here">Watch a video tutorial here:</h3><figure class="kg-card kg-embed-card"><iframe width="200" height="113" src="https://www.youtube.com/embed/otF8VpSRMvo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen title="Restaking Ethereum with P2P.org and EigenLayer using dApp (step-by-step)"></iframe></figure><p></p><h2 id="how-to-restake-with-a-new-or-existing-eigenpod-address">How to restake with a new or existing EigenPod address:</h2><p>To restake, you first need to set up an EigenPod address that will be connected to your wallet. This EigenPod address will be the withdrawal address in the P2P.org staking dApp. To do this:</p><p>1. Go to <a href="https://app.eigenlayer.xyz/?ref=p2p.org" rel="noopener noreferrer">https://app.eigenlayer.xyz/</a> and connect a wallet:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/image-2.png" class="kg-image" alt loading="lazy" width="2000" height="1225" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/image-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/02/image-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/02/image-2.png 1600w, https://p2p.org/economy/content/images/2024/02/image-2.png 2000w" 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/2024/02/image-3.png" class="kg-image" alt loading="lazy" width="2000" height="1180" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/image-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/02/image-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/02/image-3.png 1600w, https://p2p.org/economy/content/images/2024/02/image-3.png 2000w" 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/2024/02/image-4.png" class="kg-image" alt loading="lazy" width="2000" height="1130" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/image-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/02/image-4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/02/image-4.png 1600w, https://p2p.org/economy/content/images/2024/02/image-4.png 2000w" 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/2024/02/image-5.png" class="kg-image" alt loading="lazy" width="2000" height="1276" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/image-5.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/02/image-5.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/02/image-5.png 1600w, https://p2p.org/economy/content/images/2024/02/image-5.png 2000w" sizes="(min-width: 720px) 720px"></figure><p>5. Visit <a href="https://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 two minutes and does not require registration or completing KYC. The below image shows how to complete this simple process: <strong>You need to turn on the checkbox Eigenlayer restaking and set your EigenPod address as the validator Withdrawal address in Advanced settings:</strong></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/02/Untitled-39.png" class="kg-image" alt loading="lazy" width="980" height="1330" srcset="https://p2p.org/economy/content/images/size/w600/2024/02/Untitled-39.png 600w, https://p2p.org/economy/content/images/2024/02/Untitled-39.png 980w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-emoji">🔒</div><div class="kg-callout-text"><a href="http://p2p.org/?ref=p2p.org"><i><em class="italic" style="white-space: pre-wrap;">P2P.org</em></i></a><i><em class="italic" style="white-space: pre-wrap;">'s unique feature enables MEV rewards for stakers with an EigenPod address. What's crucial is that, by default, EigenPod does not accept MEV rewards. Check the next paragraph for further details</em></i>.<i><em class="italic" style="white-space: pre-wrap;">Validators propose new blocks and receive rewards, which include MEV, to their execution rewards address. Technically, the withdrawal address and the execution rewards address can be different. However, to simplify the staking process, most operators set the withdrawal address as the execution rewards address by default. However, this poses an issue for restaking: EigenPod doesn't accept direct transactions from MEV bots, which means it can't receive most MEV rewards either.We resolve this issue by automatically checking if you have put EigenPod as your withdrawal address. In such cases, we extract your EigenPod owner's wallet and use it as the execution rewards recipient address. This ensures that your MEV rewards are completely secure.</em></i></div></div><p><br>6. After staking completion, your validators will enter the validator entry queue, and by the time you're live, your EigenPod balance, will immediately reflect the stake. You can check the current activation time in our <a href="https://p2p.org/networks/ethereum/queue?ref=p2p.org" rel="noopener noreferrer">Ethereum queue dashboard</a>.</p><h3 id="watch-a-video-tutorial-here-1">Watch a video tutorial here:</h3><figure class="kg-card kg-embed-card"><iframe width="200" height="113" src="https://www.youtube.com/embed/RduD_-s1HH0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen title="Restaking Ethereum with EigenLayer and P2P.org (for users with EigenPod address, step-by-step)"></iframe></figure><p></p><h2 id="qa">Q&A:</h2><p><strong>How can I do restaking for EigenLayer?</strong></p><p>We have a simple guide for restaking; check it out here: <a href="https://p2p.org/economy/eigen-layer-restaking-with-p2p-org-guide/">https://p2p.org/economy/eigen-layer-restaking-with-p2p-org-guide/</a></p><p><strong>What are the Restaking points?</strong></p><p>Rewards and how they are distributed are still a work in progress. The Eigen Layer team plans to share more details in 2024Q2. For now, extra rewards are distributed by Eigenlayer in Restaking points. Restaking points measure your contribution to the shared security of the EigenLayer ecosystem, the temporary proof of your participation in the EigenLayer network. You will receive Restaking points in your Eigenpod during the restaking process.</p><p><strong>How many Restaking points will I get for restaking?</strong></p><p>Restaking points are a measure of staking participation equal to the time-integrated amount staked in units of ETH*hours. You can read here more about how this share is measured in Eigenlayer documentation about Restaking points: <a href="https://docs.eigenlayer.xyz/eigenlayer/restaking-guides/restaking-user-guide/restaked-points?ref=p2p.org">https://docs.eigenlayer.xyz/eigenlayer/restaking-guides/restaking-user-guide/restaked-points</a></p><p><strong>What risks are involved with restaking?</strong></p><p>Restaking, while offering additional rewards, also brings with it inherent risks. Validators participating in restaking face potential penalties from Ethereum and EigenLayer if they violate network consensus rules.</p><p>Moreover, validators' withdrawal credentials are tied to EigenLayer's upgradeable Eigenpod smart contracts, introducing further elements of complexity and risk.</p><p>A comprehensive risks <a href="https://docs.eigenlayer.xyz/eigenlayer/risk/risk-faq?ref=p2p.org">FAQ by Eigen Layer</a> covers all risks;</p><p><strong>What about Eigenlayer slashing risks?</strong></p><p>There is no slashing until the protocol upgrade in the second half of 2024, giving new protocols and operators enough time to develop a robust risk mitigation framework.</p><p>In the future, validators participating in restaking face potential penalties from Ethereum and EigenLayer if they violate network consensus rules. So operators should carefully setup infrastructure and choose AVSes to run. Regarding native vs. LST, native restaking is a much safer option than restaking LST tokens, since your withdrawal credentials are associated with smart contracts under your management.</p><p><strong>How Eigenlayer addresses restaking risks?</strong></p><ol><li>Smart contracts are audited, and a <a href="https://docs.eigenlayer.xyz/eigenlayer/security/bug-bounty?ref=p2p.org">$2 million bug bounty program</a> has been initiated since December 2023, underscoring its commitment to ongoing security enhancements.</li><li>There is a community multisig (<a href="http://p2p.org/?ref=p2p.org">P2P.org</a> is one of 13 members). In extraordinary circumstances, the Community Multisig can perform emergency actions, including immediately executing time-critical upgrades or replacing the Operations Multisig in the event of private key compromise. <a href="https://docs.eigenlayer.xyz/eigenlayer/security/multisig-governance?ref=p2p.org">https://docs.eigenlayer.xyz/eigenlayer/security/multisig-governance</a></li><li>There is no slashing until the protocol upgrade in the second half of 2024, giving new protocols and operators enough time to develop a robust risk mitigation framework.</li><li>Regarding unintentional slashing due to protocol/AVS mistakes, EigenLayer establishes a "slashing council." This council will oversee and adjudicate any slashing incidents, ensuring fairness and accuracy in administering penalties while the slashing mechanism evolves. The slashing event doesn't burn ETH; it only freezes it on the EigenPod address. This freeze can be removed by slashing the council. That will secure early restakers from slashing losses due to AVS/protocol mistakes.</li></ol><p><strong>How to exit from Eigenlayer?</strong></p><p>After validators are exited from the Ethereum network, your ETH transfers to the EigenPod address, and after a 7-day lock period, you can withdraw them from EigenPod.</p><h2 id="contact-us">Contact Us:</h2><p><em>Do not hesitate to ask questions in our </em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em>Telegram chat</em></a><em> <br>We are always open for communication.</em><br><br>We encourage you to check our website and start our staking journey together!</p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/ethereum?ref=p2p.org" class="kg-btn kg-btn-accent">Stake with us!</a></div><hr><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a><br><strong>Blog:</strong> <a href="https://p2p.org/economy/">https://p2p.org/economy</a><br><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
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