Once again, it’s a new month, and we’ve taken some time to highlight the main events from the past one to keep you up to date and aware of all the exciting things happening with SafeStake!
April was a busy month for SafeStake, so let’s dive in and see what the team has been up to and also take a look at some exciting things planned for the future!
DVT Token Liquidity Bootstrapping Governance Proposal
The LBP proposal also passed, with more than 93% of the votes supporting the plan to take $DVT to the next level. Thank you to everyone that participated in the vote to help shape the future of SafeStake and $DVT!
Token Conversion Page Launch and the Balancer LBP Period Change
The Balancer Liquidity Bootstrapping Pool (LBP)
As always, we remind users to exercise due diligence to avoid interacting with a fake pool address and to always be aware of SCAMMERS.
Balancer Pool Info
For the $DVT LBP, the initial settings are 80% $DVT and 20% WETH, and the initial spot price of $DVT is 10 times the VWAP of $STATE in March 2023 (around $0.018; see chart below), or $0.18 USD.
The Balancer Pool will last for 15 days to achieve a reasonable market price for $DVT. All community members are welcomed and encouraged to join the Balancer Pool to add/withdraw stable liquidity and trade.
After the 15-day period ends, the Balancer Pool liquidity will move to Uniswap V3 on Ethereum as the major marketplace for buying/selling/swapping $DVT.
To attract users to contribute to the liquidity of the new $DVT token and join in growing the SafeStake ecosystem, community members and other users who reserve their stable LPs in the Balancer Pool will be rewarded $DVT pro-rata after the 15-day period.
Read the full announcement on Substack.
The SafeStake Zealy XP Program
To help grow our outstanding community, we launched a SafeStake Zealy XP program!
Check out our Zealy Questboar Now!
Don’t miss the opportunity to complete tasks, contribute to the SafeStake community, and earn XP rewards while taking part in fun and exciting adventures!
CALLING ALL TESTERS!!!
We Need Operators and Validators for Galileo Incentivized Testnet!
The Ethereum Community Conference 2023 (EthCC)
We announced that SafeStake is proud to be a Ruby Sponsor for EthCC 6, happening July 17–20, 2023 in Paris, France!
The Ethereum Community Conference (EthCC) is the largest annual European Ethereum event focused on technology and community. We encourage you to make plans to join us and other top players in the Ethereum ecosystem for four intense days of conferences, networking, and learning!
Ethereum Staking Resources
Learn more about Ethereum staking with these information-packed articles published this month by our writers:
How to Safely Withdraw Staked Ethereum
EF combines Shanghai and Capella to give birth to the latest Ethereum upgrade — Shapella
SafeStake Product and Roadmap Update
April was also a busy month for the SafeStake product developers as they continued to troubleshoot a bug and fully stabilize the current testnet code.
As a result, we are planning on merging one last version of updated code to testnet before mainnet launch, likely pushing it to sometime in June or early July 2023.
Marketing Update
The SafeStake marketing team has been working hard in the background to promote SafeStake and bring more testers to Galileo Incentivized Testnet. In addition to the Zealy program we highlighted above, we have been focusing our marketing efforts on the following:
- Blog Migration — We are currently in the process of migrating the content on our Medium blog to a WordPress blog that resides on the SafeStake website. This will contribute significantly to SEO for https://www.safestake.xyz as our domain will begin receiving the ‘domain authority’ from our content rather than Medium.com.
- Partnerships/Collaborations — We have established contacts with many Staking-as-a-Service (SaaS) providers and others players in the ETH staking space. We will continue to build these relationships and foster new ones as the development team solidifies the SafeStake product. Additionally, the opportunity is there and we are right on the cusp of being able to build into various staking ecosystems, opening the door for further collaboration. Our main intent here stays focused on helping centralized SaaS providers decentralize their node operations via the 8 ETH mini-pool ‘initiator’ depositor role.
- AMAs — Our global team is working on setting up AMAs in different forums to expand our reach and attract more users to testnet. Please stay tuned for more announcements about AMAs coming soon!
- Crypto Exchange Advertising — A comprehensive leaderboard banner advertisement program began on CoinGecko on 1 May 2023. The leaderboard ads are designed to drive more testers to Galileo Incentivized Testnet so the sample size needed to bring SafeStake to mainnet can be achieved.
- IRL ETH Events — We believe a physical presence at ETH events around the world will significantly increase the awareness level for SafeStake. Currently, we are sponsoring and participating in EthCC 6 and the Staking Rewards Staking Summit, while the upcoming events we are considering include ETH Argentina and Devcon 7.
About SafeStake
SafeStake is a trust-minimized middle layer that promotes decentralized ETH 2.0 staking. It is the first Distributed Validator Technology (DVT) liquid staking protocol for Ethereum written entirely in Rust. SafeStake utilizes the HotStuff consensus protocol and an advanced BLS Threshold Signature architecture to provide the highest levels of security and reliability, so Ethereum validators can maximize their staking rewards.