Ethereum - A week after Shapella

<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>

<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&#215;</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 &quot;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-->