SafeStake

Welcome back to your monthly update on everything SafeStake! July was a whirlwind of activity, and August will be even more thrilling. We have plenty of exciting news, from the latest testnet updates to the impending Private Mainnet Launch!This newsletter is your trusted source for all the latest developments and updates at SafeStake as we continue our journey in helping decentralized Ethereum Staking.Now, without further ado, let’s dive into what’s new!<img src="https://miro.medium.com/v2/resize:fit:1400/0*_Gof90G85paqQ3Ew" />In the last few days, we released v3.2.3 in preparation for the launch of SafeStake Private Mainnet. This version addresses some issues on the Holesky Testnet:1. Support lighthouse 5.2.12. Optimized the operator committee restart logic3. Optimized the MEV registration timestamp setting, using the timestamp when the validator registers on the platform4. Removed the restriction of the p2p outbound port, and home stakers will be easier to set up when using the default port.5. Added a network environment debugging toolAs we mentioned in our last newsletter, July marked the end of our previous 30 days of testing for many operators who participated in our Incentivized <a href="https://holesky.safestake.xyz/" rel="noopener noreferrer nofollow">Testnet</a>.It has been 30 days with excellent performance in general for all our operators on board, some even since the first day we announced our testnet. All those Operators who consistently performed above 90% got invitations to participate in the launch of the Private Mainnet network..<img src="https://miro.medium.com/v2/resize:fit:1400/0*LKGmGW-ryjQ1nMpL" />Example of an Operator in SafeStake Holesky Testnet with Performance above 90% — Source: <a href="https://explorer-holesky.safestake.xyz/" rel="noopener noreferrer nofollow">SafeStake Testnet Explorer</a>We are thankful to all the individual and institutional entities on board that continue to rely on SafeStake to help decentralize Ethereum Staking. Overall, our network on Holesky Testnet ended the last month of testing with the following key metrics:<ul><li>65 Operators</li><li>600&#43; Validators</li><li>19k&#43; ETH Staked</li></ul>As planned, we launched our SafeStake Private Mainnet on the Ethereum mainnet in August 2024 with those Operators who agreed to our invitation. Your hard work and commitment will be vital over the next three months for SafeStake to succeed!<img src="https://miro.medium.com/v2/resize:fit:1232/0*-YU2xm49wDyN0ULN" />Stay tuned to our next social media posts dedicated to SafeStake Private Mainnet, where we will indicate all the details about the successful launch of our protocol on Ethereum!<img src="https://miro.medium.com/v2/resize:fit:1400/0*42f5hE25bjOWM9IQ" /><img src="https://miro.medium.com/v2/resize:fit:1400/0*tuKwW35DbL6OvsW_" /><a href="https://parastate-safestake-community.notion.site/SafeStake-Mainnet-Validator-Incentive-Program-VIP-2826f3f979604ba68bd8e6062168b1e3" rel="noopener noreferrer nofollow">Mainnet Validator Incentive Program (VIP)</a>Starting in August, our Mainnet Validator Incentive Program (VIP) will be activated, with an already excellent reward fund in $DVT tokens of 1.4 million!Remember to participate to access part of this fund!Just be an early adopter of our Distributed Validator Technology (DVT) and run a validator on SafeStake Mainnet to access a share of the 600,000 DVT token pool. Plus, as an early adopter, you will pay no fees for the first 60 days after the initial launch of the SafeStake Mainnet!In addition, if you manage to keep your Validators active in the SafeStake network, you can earn part of the 800,000 DVT token pool stipulated as a reward for sustained participation for four months.Remember that the program works on a point system, where Validators earn points based on when they join and how long they remain active in the SafeStake DVT network.As part of the updates to our interface for this incentive program, we have added the “Airdrop Points” section to reflect the points earned during The Mainnet Validator Incentive Program (VIP).<img src="https://miro.medium.com/v2/resize:fit:1400/0*8uh6Zg-8XEtU6xE8" />Early Bird Bonuses — Source: Safestake <a href="https://parastate-safestake-community.notion.site/SafeStake-Mainnet-Validator-Incentive-Program-VIP-2826f3f979604ba68bd8e6062168b1e3" rel="noopener noreferrer nofollow">Mainnet Validator Incentive Program (VIP)</a>You will be able to view the points earned on your account dashboard.<img src="https://miro.medium.com/v2/resize:fit:1400/0*EHmOfBgkudJhcglb" />Validator Dashboard — Source: SafeStake TestnetFor more detailed information about SafeStake Mainnet’s incentive program, please visit the following link:<a href="https://parastate-safestake-community.notion.site/SafeStake-Mainnet-Validator-Incentive-Program-VIP-2826f3f979604ba68bd8e6062168b1e3?pvs&#61;4" rel="noopener noreferrer nofollow">https://parastate-safestake-community.notion.site/SafeStake-Mainnet-Validator-Incentive-Program-VIP-2826f3f979604ba68bd8e6062168b1e3?pvs&#61;4</a><img src="https://miro.medium.com/v2/resize:fit:1400/0*ULQ6Mw2Ucs1jUkgE" />After a lot of hard work, our designers have completed version 3.0 of the SafeStake <a href="https://www.safestake.xyz/" rel="noopener noreferrer nofollow">website</a> to coincide with the launch of our Private Mainnet. SafeStake’s new site is live!This new design presents features that seek to improve the user experience to encourage greater adoption and satisfaction with our SafeStake protocol.One of the main new features we will present is a new interactive video for deploying Validators on the Ethereum mainnet with SafeStake. If you love cats, you will love Staky, our lucky mascot who will teach you how to set up a validator at SafeStake!In addition, the new web design version and UX/UI aligns with the project’s mission to attract a broader user base and encourage participation in ETH staking.Not least, we want to share with you that SafeStake is present in the Beaconcha.in ads banners! Beaconcha.in, is a leading Ethereum Block Explorer for managing and monitoring validators.With 1M&#43; page views per month, advertising on Beaconcha.in is an excellent option to bring more validators to our decentralized ETH Staking protocol.<img src="https://miro.medium.com/v2/resize:fit:1400/0*COwX-nzuZRddgNku" />SafeStake banner ad on Beaconcha.in<img src="https://miro.medium.com/v2/resize:fit:1400/0*r7XG_uU6cfJhUXBe" />We had the opportunity to enjoy a new session of X Spaces with SafeStake Operators in July! These spaces allow us to generate a rich discussion on the distributed validator technology (DVT) field, which generates attention among the attendees.In mid-July, our Marketing Lead, Dmytro, conversed with Josh Heller | a Blockchain Specialist from the Allnodes team, one of our onboarding operators at SafeStake.It was a great session where we discussed some informative ideas in the DVT space while diving deep into the rewards and challenges of being a professional node operator and beyond! If you were unable to attend, below you will find the link to the recording:SafeStake x Allnodes SpaceGuest: Josh Heller Blockchain Specialist | Allnodes&#x1f399;️Recording: <a href="https://x.com/i/spaces/1OdJrXEywEwKX/peek" rel="noopener noreferrer nofollow">https://x.com/i/spaces/1OdJrXEywEwKX/peek</a><img src="https://miro.medium.com/v2/resize:fit:1360/0*88cnNCCRto5SwxqH" />Our graphic design team is still working on the designs for our booths and T-shirts for the Mainnet NYC event. SafeStake will be at the annual Messari conference in New York, USA, at the end of September 2024.<img src="https://miro.medium.com/v2/resize:fit:1352/0*Tpiz7NquQakZcym5" />Road to Mainnet Campaign Leaderboards — All Time &amp; Sprint 2The 2nd sprint of the Holesky testnet phase ended last July 31st with hundreds of participants fighting to reach the top of the <a href="https://zealy.io/cw/safestake/leaderboard" rel="noopener noreferrer nofollow">Leaderboard</a>. Constant interaction on our Discord channel, lots of likes and retweets to our posts on X, attending a Spaces session, and many more tasks were some of the activities participants did to earn Safe Points!Congrats to the All-Time and Sprint 2 front runners!With the launch of the Private Mainnet, a new mainnet sprint will commence featuring tasks with higher XP rewards, and contributions made during the campaign will be generously rewarded following the first 30 days of the public mainnet launch.The SafeStake Road to Mainnet Campaign has been an initiative in which, through a series of tasks and challenges, participants earned Safe points to exchange for DVT tokens!Stay tuned to our social media posts to be one of the first to know about the next campaigns we will be launching to encourage the use of SafeStake.<img src="https://miro.medium.com/v2/resize:fit:1400/0*dAY9OCfGRLO6pvAU" />Road to <a href="https://zealy.io/cw/safestake/questboard/sprints" rel="noopener noreferrer nofollow">Mainnet </a>Campaign on Zealy<img src="https://miro.medium.com/v2/resize:fit:1400/0*9eSFXoR-35roN0Tq" /><img src="https://miro.medium.com/v2/resize:fit:1400/0*Wt8pTx-QxJ8WD02s" />During July, our editor delivered two informative articles focused on the narrative that SafeStake focuses on to keep our users up to date with the latest trends happening in the Ethereum ecosystem that have a direct bearing on DVT-based protocols like SafeStake:<ul><li><a href="https://blog.safestake.xyz/2024/07/22/sec-vs-projects-staking-a-new-opportunity-to-test-dvt/" rel="noopener noreferrer nofollow">SEC vs Projects Staking: A new opportunity to test DVT?</a></li></ul>This article provides general context on the SEC’s actions on Ethereum staking programs, specifically Lido and Rocket Pool, suggesting that their liquid tokens could be securities, generating confusion in the market and leading to a drop in user participation, opening the door to Distributed Validation Technology (DVT) as an innovative solution to mitigate regulatory risks and promote decentralization in the ecosystem.<ul><li><a href="https://blog.safestake.xyz/2024/07/15/ethereum-pectra-upgrade-key-eips-and-implications-for-validators-part-ii/" rel="noopener noreferrer nofollow">Ethereum Pectra Upgrade: Key EIPs and Implications for Validators– Part II</a></li></ul>In this second installment on Pectra Upgrade, the article discusses the proposed EIP-7251, which increases the maximum effective balance of Ethereum validators from 32 ETH to 2048 ETH, enabling balance consolidation and optimizing rewards. It also introduces a new compound withdrawal mechanism, improving economic security and promoting decentralization in the network.<img src="https://miro.medium.com/v2/resize:fit:1400/0*7bX5AVlm-Dng-USB" />In this opportunity, we want to present you with the most outstanding facts and developments in the Ethereum ecosystem in the last month, especially those related to staking and distributed validator technology (DVT)!<ul><li>Spot ETH ETFs launched in the US:</li><li><a href="https://farside.co.uk/?p&#61;1518" rel="noopener noreferrer nofollow">ETF flow</a> dashboard</li><li><a href="https://pectra-devnet-2.ethpandaops.io/" rel="noopener noreferrer nofollow">Pectra-devnet 2</a> launched, and multiple debugged issues.</li><li>Vitalik: <a href="https://vitalik.eth.limo/general/2024/07/23/circlestarks.html" rel="noopener noreferrer nofollow">circle STARKs</a> (implemented in Stwo &amp; Plonky3)</li><li>Fees (via <a href="https://ultrasound.money/" rel="noopener noreferrer nofollow">ultrasound.money</a>):</li><li>Gas: 0.9 to 73.4 gwei, 4.9 gwei average; zero net issuance at 23.6 gwei</li><li>60k ETH net issuance this month</li><li><a href="https://dune.com/hildobby/eth2-staking" rel="noopener noreferrer nofollow">Lido at 29.05%</a>, still too close to the 33.3% threshold</li><li>Obol Charon <a href="https://blog.obol.org/releasing-charon-1-0/" rel="noopener noreferrer nofollow">v1</a>: distributed validator middleware</li><li>EthStaker<a href="https://paragraph.xyz/&#64;ethstaker/staking-survey-2024" rel="noopener noreferrer nofollow"> staking survey results</a>: 32% are Genesis stakers, 74% don’t work in crypto &amp; 95% are male.</li><li>Stereum <a href="https://github.com/stereum-dev/ethereum-node/releases/tag/v2.2.0" rel="noopener noreferrer nofollow">v2.2</a>: multi-setup support and connection check to test network stability &amp; Connectivity</li></ul><img src="https://miro.medium.com/v2/resize:fit:1400/0*Pvb8ZvJdS_t4Uemm" /><img src="https://miro.medium.com/v2/resize:fit:1004/0*lnu1y6Vyo4EtopTd" />We invite every member of our community to engage with us. Whether you are operating validators or nodes on our testnet, joining our X Spaces sessions, or simply exploring and sharing information about SafeStake, your involvement is vital to our success. Together, we will achieve great things!<img src="https://miro.medium.com/v2/resize:fit:1400/0*L1nZpJe1lB2YfEP3" />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.<a href="https://www.safestake.xyz/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://medium.com/ethereum-on-steroids" rel="noopener noreferrer nofollow">Blog</a> | <a href="https://twitter.com/SafeStakeDVT" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/ParaState" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://discord.com/invite/zFS3Mnfpwj" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://github.com/ParaState" rel="noopener noreferrer nofollow">Github</a>

SafeStake Newsletter — August Edition

SafeStake

Other articles published on Aug 4, 2024

Best ICOs to Invest in 2024 with Real-World Utility: Invest in the Future for 5000x Returns

Amber Group Demands Transparency Amid ZKX Shutdown Controversy

Tron Founder Billionaire Justin Sun Made 110 Million Dollar Transactions Today: Here Are His Tota...

Amber Group addresses ZKX shutdown, urges transparency

5 Must-Have DePin Coins For Your August 2024 Portfolio

Rollblock, Dogecoin volumes soar; Shiba Inu fails to regain investor interest

Join our free newsletter for daily crypto updates!