SafeStake

As always, we&#39;ve put together a summary of the highlights from the past month and a sneak peek into SafeStake’s future plans. So buckle your seatbelts and get ready to take a high-velocity ride through the latest news and exciting updates about SafeStake!<h2 id="header-0">SafeStake is Proud to Sponsor The Ethereum Community Conference 2023 (EthCC)! </h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e7bced038dc3463b9b631a8c005bee48.png" />As we continue to prepare for this massive event, we invite you to join us and thousands of others in the Ethereum community at EthCC, or The Ethereum Community Conference 2023, happening July 17 - 20, 2023 in Paris, France! Be sure to visit our booth and meet members of the SafeStake team.For a bit of background, EthCC is the largest annual European event dedicated to Ethereum technology and the Ethereum community. This conference offers the perfect opportunity to network with and learn from the top players in the Ethereum ecosystem over four action-packed days. Stay tuned for more information about the SafeStake booth and visit https://ethcc.io to learn more and purchase tickets. You can also read our blog article about EthCC <a href="https://medium.com/ethereum-on-steroids/what-is-the-ethereum-community-conference-ethcc-and-why-is-it-important-b2dfb97d52fe" rel="noopener noreferrer nofollow">here</a>.If you are attending EthCC, catch up with us at our booth in the M Building, Salon MAUBERT. We have some surprises for our guests, so be sure to stop by!<h2 id="header-1">Important Announcement: Unstaking Required for STATE Holders on http://staking.parastate.io</h2>In light of rebranding ParaState to SafeStake and the STATE token to DVT, the staking activities on http://staking.parastate.io will be discontinued by the end of July. Therefore, we kindly request that everyone with STATE tokens still staked on this site unstake their tokens and complete the conversion process.To ensure the security and accessibility of your STATE tokens, it is crucial that you unstake  prior to July 31, 2023. If you do not unstake your tokens before the end of July, you may face difficulties in accessing and withdrawing your tokens.To unstake your STATE tokens, please follow these steps:<ol><li>Visit http://staking.parastate.io</li><li>Connect your ERC20 wallet</li><li>Click MAX (the STAKED [COMPOUNDING] value will reflect the amount you can unstake)</li><li>Choose Unstake</li><li>Follow the instructions to complete the unstaking process.</li><li>Once the unstaking process is complete, your tokens will become available for withdrawal.</li></ol>The SafeStake team understands the importance of safeguarding your assets. Therefore, we highly recommend taking immediate action to unstake your STATE tokens. Should you encounter any difficulties or require assistance during the unstaking process, please contact a SafeStake admin on <a href="https://t.me/ParaState" rel="noopener noreferrer nofollow">Telegram</a> or Discord.Thank you for your understanding and taking immediate action.<h2 id="header-2">DVT Distribution Update </h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9cebd3583fc54431820b109a83014eda.jpg" />The 6th batch of $DVT was distributed on June 27, 2023. This 6th distribution includes transfers of $STATE to the vault that occurred after block height 17512745 (5th batch) and prior to block height 17567491.If you sent $STATE to the conversion vault and don&#39;t see $DVT in your wallet, please make sure you import the DVT contract address into your wallet:0x29FA1fee0F4F0Ab0e36eF7Ab8d7a35439eC6be75<h2 id="header-3">Upgrades to Galileo Incentivized Testnet </h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3743f5eb8ff3496eb9bb94b59588d0e6.jpg" />The SafeStake Dev Team upgraded the code base on <a href="https://testnet.safestake.xyz/" rel="noopener noreferrer nofollow">Galileo Incentivized Testnet</a>, first with the v1.0-testnet release, and most recently with v1.2-testnet. The latest version, v1.2-testnet, fixed an issue where an operator would stop attesting if the node IP changed. These two code versions have proven to be extremely stable, providing a secure and robust environment for Ethereum validators.Attention Operators:There is an <a href="https://www.youtube.com/watch?v&#61;neZE4Y7vpcI" rel="noopener noreferrer nofollow">updated video guide</a> that walks you step-by-step through the process of setting up an operator node on Galileo incentivized testnet. You should also reference the following resources for the latest versions, notes, etc.Github: <a href="https://github.com/ParaState/SafeStake" rel="noopener noreferrer nofollow">https://github.com/ParaState/SafeStake</a>v1.2-testnet operator guide:<a href="https://github.com/ParaState/SafeStakeOperator/releases/tag/v1.2-testnet" rel="noopener noreferrer nofollow"> https://github.com/ParaState/SafeStakeOperator/releases/tag/v1.2-testnet</a>Attention Validators:Setting up a validator on testnet is easy! Visit our <a href="https://www.youtube.com/&#64;SafeStakeDVT" rel="noopener noreferrer nofollow">YouTube</a> channel for helpful video guides that will show you how to create a new validator or import an existing validator to SafeStake.Attention Testers! Earn Rewards and Win Prizes!We’re always looking for more testnet participants to join as validators and operators to help test the SafeStake DVT platform at scale. We have an awesome <a href="https://parastate-safestake-community.notion.site/Galileo-Testnet-Stage-1-DVT-and-XP-Rewards-Program-93bf60ba292d4b4b8be99cca2d204375" rel="noopener noreferrer nofollow">rewards program</a> and random drawings for ETH prizes at set milestones!You still have plenty of time to join <a href="https://testnet.safestake.xyz/" rel="noopener noreferrer nofollow">Galileo Incentivized Testnet</a>! To keep everyone excited, all ACTIVE validators and operator nodes will be entered in random drawings to win ETH prizes when Galileo testnet reaches the following milestones:250 Active Validators - .25 ETH500 Active Validators - .5 ETH750 Active Validators - .75 ETH<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f78dbeaa612149c2af92824177f91784.jpg" />1000 Active Validators - 1 ETH!Additionally, top performing validators and operators will be rewarded with valuable $DVT! If you’re running a validator or operator node, you can track your progress and see how you’re doing compared to other participants by checking out the <a href="https://parastate-safestake-community.notion.site/SafeStake-Galileo-Stage-1-Testnet-Rewards-d9fa15ea1a1a4ea5be62b3c80f02f0e5" rel="noopener noreferrer nofollow">leaderboards</a>.*** That’s right… we’re giving away a total of 2.5 ETH in prizes (worth $4,625 at the time this article was written) AND valuable $DVT rewards just for helping us test! ***<h2 id="header-4">New Videos!</h2>Intro to SafeStake Learn more about the problems facing Ethereum staking and how SafeStake solves those problems. <a href="https://youtu.be/QIMf8_zdA-M" rel="noopener noreferrer nofollow">An Introduction to SafeStake</a> provides an easy-to-understand look at how SafeStake functions to keep validators online and private keys safe.Import an Existing Validator to SafeStakeThis is a <a href="https://youtu.be/3poMlk4XQrU" rel="noopener noreferrer nofollow">step-by-step tutorial</a> that shows how to import an existing validator running on Ethereum testnet to SafeStake’s Galileo Incentivized DVT Testnet.SafeStake’s UI is simple and easy to use, offering the ease of dragging-and-dropping any validator keystore file into our browser-based dApp to securely split the private key into shares. No technical knowledge is required, making SafeStake a turnkey DVT solution for solo stakers, staking services, and staking pools.Add DVT to a SafeStake ValidatorIf you are running a SafeStake validator, you will need to add DVT tokens to its balance each month for the operator committee to continue attesting on its behalf. This <a href="https://www.youtube.com/watch?v&#61;Kchv4ZyyMV0" rel="noopener noreferrer nofollow">video tutorial</a> shows you how to easily add test DVT tokens to your SafeStake validator’s balance.Stake With Only 4 ETH via Blockswap/Stakehouse, then Import Validator to Galileo TestnetAs part of SafeStake’s focus to establish mutually beneficial relationships with larger staking providers, we are excited to tell you about a new way you can become a testnet validator.As one of our first collaborations, we introduce you to Stakehouse from the minds at Blockswap Labs. This innovative staking platform allows users to create a validator and retain custody of the key with a deposit of only 4 ETH! We found it so easy to create and import a Stakehouse validator, we created a <a href="https://youtu.be/UsvJszWgAAU" rel="noopener noreferrer nofollow">video</a> that shows you how to do it step-by-step.This innovative approach combines Blockswap’s LSD with SafeStake’s DVT, offering users the chance to experience liquid staking and the benefits of DVT together for the first time!*Important Note: When you create a Stakehouse validator, your 4 ETH deposit will be matched with another 28 ETH from the liquid staking pool. You will need to initiate the deposit to the Ethereum Deposit Contract, and your ETH will not be deposited into any SafeStake smart contract at this time.<h2 id="header-5">SafeStake AMAs</h2>SafeStake participated in several AMAs in June with the following communities:Decentralized Club - June 1 - <a href="https://twitter.com/dens_club/status/1664300705216352263?t&#61;mkFb1-4fNJxDuS8iGqP8CQ&amp;s&#61;19" rel="noopener noreferrer nofollow">listen to the recording</a>GEEK CHAT -  June 6Crypto Rush - June 21 - <a href="https://t.me/parastateofficial/335" rel="noopener noreferrer nofollow">listen to the recording</a> <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/221629874d84412fa112952b151e4f79.png" />If you missed these AMA sessions, they were packed with lots of information about DVT and SafeStake. Listen and discover why DVT is the hottest topic in ETH staking and see how SafeStake is making waves in the industry.<h2 id="header-6">Blog Articles </h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7854b9ae89a746bd8afece37e732c079.jpg" />Our team is dedicated to equipping our readers and community with valuable insights via well-written, easy to understand blog content. Discover a wealth of information about Ethereum, ETH staking, and the groundbreaking SafeStake DVT project <a href="https://medium.com/ethereum-on-steroids/" rel="noopener noreferrer nofollow">here</a>.Don&#39;t miss out on the articles published this past month:<a href="https://medium.com/ethereum-on-steroids/eth-traders-react-to-the-shapella-upgrade-a-closer-look-at-market-trends-987486d75b9f" rel="noopener noreferrer nofollow">ETH Traders React to the Shapella Upgrade: A Closer Look at Market Trends</a><a href="https://medium.com/ethereum-on-steroids/how-safestake-keeps-ethereum-validator-private-keys-secure-7145ffb7fc3e" rel="noopener noreferrer nofollow">How SafeStake Keeps Ethereum Validator Private Keys Secure</a><a href="https://medium.com/ethereum-on-steroids/what-is-the-ethereum-community-conference-ethcc-and-why-is-it-important-b2dfb97d52fe" rel="noopener noreferrer nofollow">What is EthCC and Why Is It Important?</a> That’s all for this edition of the SafeStake newsletter. Thanks for reading!<h2 id="header-7"> About SafeStake</h2>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.<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>

June Newsletter - The latest news and exciting updates

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SafeStake

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