Safestake September Newsletter
Welcome back to a new edition of the Safestake Newsletter with the latest project updates and everything happening in the vibrant Distributed Validator Technology (DVT)!
August has been a rollercoaster of emotions in the whole Ethereum Staking-related ecosystem, and several updates on our platform towards the launch of our Private Mainnet!!!
Now, without further ado, let’s dive into what’s new!
Testnet & Private Mainnet Update
Following the launch of our Testnet v3.2.3 in early August with significant improvements to optimize the performance of our onboard operators, we have been able to get our nodes performing at their best over the last month leading up to the launch of our Private Mainnet!
The latest stats from our current testnet are quite positive and we are nothing but excited to see the commitment of all our onboard operators day after day on our Testnet. Overall, our operators have achieved a performance uptime of 97%+.
Current Testnet Stats: Aug 31, 2024
💻GENERAL:
🟢 66 nodes (including SafeStake DAO)
🟢820 validators
💻VERIFIED OPERATORS:
🟢36 Verified Operators
💻PERFORMANCE:
🟢45 nodes with node performance of 90% or above
🟢24 Verified Operators with node performance of 95% or above
A big salute to all the operators who maintain a daily performance of over 90%. Remember that you can consult the complete statistics here: Explorer.
Finally, we would like to point out that we have 16 operators in 4 clusters on board for stress testing on our testnet by Lido, which has been extended for 2 more weeks to debug some small issues, such as the abnormal block proposed success rate.
Example of an Operator in SafeStake Holesky Testnet — Source: SafeStake Testnet Explorer
We want to cover all possible issues in our Testnet before the launch of SafeStake Private Mainnet in order to meet industry standards for decentralized and secure staking! This extension will help us deliver a robust and reliable system!
Private Mainnet Whitelist Snapshot
As we pointed out in our last Newsletter, our developers have taken a snapshot of the operators that will be part of our Private Mainnet!
Find the list here:
SafeStake Private Mainnet Whitelist OP
For the whitelist criteria, we evaluate average performance over an extended period rather than focusing on a single month’s results. This approach aims to onboard as many Operators as possible who can contribute as long-term partners during the private mainnet phase.
Additionally, we will be creating a dedicated Discord channel for all whitelisted Operators to facilitate collaboration and communication as we progress through the next stages of the private mainnet.
It’s worth noting that we are bringing on board some OPs with performance above 80 throughout the entire public testnet period to join our upcoming private mainnet.
We wish to thank everyone for their commendable effort in making this important milestone possible on our way to launching our platform to the ETH Staking-loving public!
For the remainder of the year, we have guaranteed our presence at some of the most significant community events in the industry!
SafeStake x Mainnet NYC
Mainnet, the largest annual crypto event in New York, is fast approaching on September 30th, and SafeStake will be present with a booth demonstrating the power of our entire DVT-based platform!
SafeStake x Staking Summit
The Staking Summit, hosted by Staking Rewards, will take place on November 8th 2024, in Bangkok, Thailand.
SafeStake is a proud Pro Sponsor of this event. We can’t wait to connect with you and share this incredible experience!
Zealy Sprint 2 ended!
The Zealy Sprint, part of the “Road to Mainnet Campaign,” has seen incredible progress, with two sprints already completed during the testnet phase. The next sprint will start soon, and we will add the 2nd sprint points to the quest website shortly.
Also, look out for our Validator Incentive Program (VIP), activated in conjunction with the launch of our Private Mainnet!
Hackernoon mentioned us in August in an article that explores the benefits of alternative financial systems powered by blockchain, where Ethereum takes a leading role in expanding the capabilities of users seeking decentralization, security and resilience with the use of distributed validator technology (DVT) in difficult times of heavy regulatory onslaught.
Explore this reflection on the evolution of financial systems and how Ethereum with DVT offers a more resilient alternative to traditional finance dominated by large centralized institutions here.
While August was a rather difficult month for the industry and especially for the Ethereum ecosystem, with ETH reeling in steep sideways movements throughout the month, progress continues at the development level on different fronts, especially those related to the Staking and Distributed Validator Technology (DVT) industry:
Core Devs
- Pectra (Prague + Electra) Upgrade:
- Spectra-devnet-3: launch once client teams pass spec tests
- PeerDAS proved to secure cryptography.
- Fulu, the next consensus layer upgrade, and Fusaka (Fulu + Osaka) for the combined upgrade.
- Lighthouse v5.3.0: faster beacon node startup, improved block proposal reliability, improved validator client broadcast and gossipsub IDONTWANT support
Research
- Execution Tickets economic modeling research published: seeks to reduce validator set centralization pressure but doesn’t alleviate builder centralization
- Restaking risks framework quantifies conditions that validators can reuse across multiple services.
Staking
- Ethereum Staking Guides to become a Solo Staker updates staking guides
- Launched Vero, a multi-node validator client that uses remote signer
Layer 1
- Flashbots: TEE-Boost, proposal for validators to accept TEE proofs directly from block builders, reduce & eventually remove relays in MEV-Boost
Regulation
- Eigen Labs sent employee addresses to EigenLayer projects for token airdrops
Vitalik Updates
Onchain stats
- Fees (via ultrasound.money):
- Gas: 0.5 to 18.7 gwei, 1.5 gwei average; zero net issuance at 23.9 gwei
- 17k ETH net issuance this week
- ETHUSD: Currently $2,519, all time high $4,878
We invite all members of our community to be part of our journey. Whether you’re operating validators or nodes on our testnet, engaging with us on social media, or simply exploring and sharing insights about SafeStake, your involvement is critical to our success. Together, we will accomplish amazing things!
SafeStake is a decentralized and pioneering technology company focused on revolutionizing Ethereum staking. With its cutting-edge Distributed Validator Technology (DVT), SafeStake provides an ultra-secure, fault-tolerant environment for Ethereum validators to maximize staking rewards and minimize penalties. SafeStake is committed to driving the growth, innovation, and decentralization of the Ethereum network while ensuring the security and prosperity of its participants.
