SafeStake

<h3 id="governance-proposal">Governance Proposal:</h3>Dear Community Members,The SafeStake Smart Contracts are currently under 3rd party audit. If this process goes smoothly, as we expect it to, we will soon launch SafeStake Stage 1 mainnet in Q4.We have been running a public testnet for more than half a year and during this time, we have learned that acquiring a solid and robust community of professional operators is the foundation of the protocol’s success.Additionally, the SafeStake core team has been in discussions with the Lido NOM over the past few months about establishing more formal cooperative testing of the SafeStake tech stack. We believe that SafeStake offers several advantages, including but not limited to our simple, secure DKG (Distributed Key Generation) solution. This DKG is not a third-party add-on and could be activated in an easy automated approach via Mini-pool creation.The major goal that has been defined in those conversations is building a custom module for the Lido Staking Router that will interface SafeStake’s DKG and decentralized staking infra with the Lido ecosystem. This means a supporting goal of attracting more testers from the curated Lido operator subset to SafeStake testnet to help build awareness and a solid reputation within the Lido DAO.In pursuit of these goals and to attract more professional operators (both Lido and non-Lido) to run nodes on Galileo testnet, the team recognizes that incentives are necessary.In the<a href="https://vote.safestake.xyz/#/proposal/0x68e5f259359a50829999665ab70259116c01a0cbe8cb6d85e65e9b283bef0799" rel="noopener noreferrer nofollow"> $DVT Token Economics Governance Proposal vote</a> that was held back in March, 3.6% of the total DVT supply was reserved to airdrop to new validators during the first three months following the SafeStake Stage 1 mainnet launch. The team now proposes that these tokens be used as incentives for the purpose of acquiring professional operators, and as a way to boost our coming Dappnode product for solo stakers and work with other LSTs.Additionally, to attract more professional operators to testnet now and keep them active after SafeStake mainnet launch, the team also proposes that the incentives be divided into pre-launch (testnet) and post-launch (mainnet) rewards.Calculating pre-launch (testnet &amp; private mainnet)  and post launch (Public mainnet) incentives:The number of days between the start of the incentive program and SafeStake Stage 1 mainnet launch will be determined. For example, let’s say this number ends up being 60 days.To make the pre-launch rewards as fair as possible, the amount of pre-launch (testnet) rewards each node operator receives will be prorated based on when they joined testnet. This means operators that join sooner and remain active for the required 90-day period following mainnet launch will receive a larger portion of the pre-launch rewards, while the top 20 operators that fulfill the requirements will receive the same portion of post-launch rewards.<ol><li>Lido DAO Operators:Establish an incentive pool of 1M DVT for the top 20 professional Lido node operators that join Galileo Testnet Stage 1 and remain active for the first 90 days following the mainnet launch of SafeStake Stage 1. These 1M DVT will be divided into pre-launch (testnet &amp; private mainnet) and post-launch (Public mainnet) rewards, as follows: Pre-launch (testnet &amp; private mainnet): 200K DVT200K DVT incentive pool / top 20 operators &#61; potential for 10,000 $DVT per operator; an operator that is active for 45 out of 60 ‘pre-launch’ days will receive 7500 DVT, while an operator that is active for only 30 out of 60 days will receive 5,000 DVT. Post-launch (Public mainnet): 800K DVT800K DVT incentive pool / top 20 operators &#61; 40,000 DVT per operator </li><li>Non-Lido DAO Operators:Establish an incentive pool of 600K DVT for the first 20 professional non-Lido DAO node operators that join Galileo Testnet Stage 1 and remain active for the first 90 days following the mainnet launch of SafeStake Stage 1. These 600K $DVT will be divided into pre-launch (testnet &amp; private mainnet) and post-launch (Public mainnet) rewards, as follows: Pre-launch (testnet): 100K DVT100K DVT incentive pool / 20 operators &#61; potential for 5,000 DVT per operator; an operator that is active for 45 out of 60 of those ‘pre-launch’ days will receive 3,500 DVT, while an operator that is active for only 30 out of those 60 days will receive 2,500 DVT. Post-launch (mainnet): 500K DVT500K DVT incentive pool / top 20 operators &#61; 25,000 DVT per operator </li><li>Solo Stakers1.2Mm DVT will be rewarded to the first 5K solo stakers who upgrade their home <a href="https://dappnode.com/" rel="noopener noreferrer nofollow">Dappnode</a> to become a DV operator and register on SafeStake platform. (240 DVT ea.) </li><li>LST ProtocolsThe remaining 800K DVT will be reserved for airdrops and working with other LST protocols to bring new validators onboard.</li></ol>IMPORTANT: All rewards will be distributed shortly after the end of the 90-day period following the SafeStake Stage 1 mainnet launch. Only operators that join Galileo testnet prior to mainnet launch and remain active for the first 90 days after mainnet launch will receive rewards. Operators that fail to remain active for the full 90 day period following mainnet launch will forfeit any and all pre-launch and post-launch rewards earned up until that time. No partial rewards will be paid to any operators. Of course, short outages on the part of operators may be expected, and operators will not be penalized for short periods of inactivity that may be caused by routine maintenance or a problem that requires technical support. However, operators that are offline or inactive for prolonged periods that have not informed us of an issue or opened a support ticket will be disqualified from earning rewards under this program.<a href="https://vote.safestake.xyz/#/proposal/0xfaf68413f8d49576942bc2c75f3864e103ea6d5a92658af9ab0f851b2f515c9c" rel="noopener noreferrer nofollow">The governance vote</a> will start at 8:30am UTC 13th September, end at 8:30am UTC 20th September.As always, we appreciate you taking an active role in the future of SafeStake and hope to have your full support in growing the SafeStake ecosystem together.Sincerely,The SafeStake Team

Mainnet User Acquisition Incentives Vote

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