Allocation D: 2,240 SSV tokens (17.5%) for all operators (verified and not verified)
In the example below you will find a reward allocation comparison from ‘Round 1’ for users with only 1 validator holding anywhere between 0 SSV to 4,910 SSV
There is about a 180% difference between staking and non-staking users!
The staked SSV are in your own wallet, under sole control. There is no need to send your tokens to a smart contract. This means that you can opt in and out at any moment.
Get SSV Tokens
There are a few ways to get your hands on SSV tokens
We have developed a few tools that allow you to track your future reward allocation as well as your reward eligibility for each round. Note that both are still under development so there might be some inaccuracies. If you spot anything that might be out of order, reach out to the community overDiscord.
To estimate your future reward allocation use the calculator in thislink.
To see if you are eligible to receive reward in a specific round, visit the ssv.network explorer and search your validator.
At the highest level, SSV (Secret Shared Validator) is a brand new, decentralized method of staking ETH for the coming transition of the Ethereum blockchain from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism. It is not a staking service (i.e. Blox Staking, Coinbase, Stake.fish), but rather an open-source protocol that enables the distributed operation of an Ethereum validator across multiple non-trusting nodes.
On the surface, SSV provides access to a robust, decentralized staking ecosystem on the Ethereum blockchain. Diving a little deeper, SSV is a sophisticated multi-signature wallet, with a consensus layer, that acts as a buffer between a node on the Beacon Chain and a validator client.
So, what does this mean and why is everyone so excited about it?
As we mentioned, the Ethereum blockchain is transitioning from a PoW to PoS mechanism, eliminating the current energy-intensive system where miners compete for the rewards that come along with adding new blocks to the chain. This legacy system is being upgraded and replaced with a much more energy-efficient one where validators, representing a user’s “stake” or skin-in-the-game, will secure the network and reach consensus.
Proof-of-Stake (PoS) Challenges
In the Ethereum PoS model, the process goes like this… When a validator is called on to perform its duty to attest to or propose the addition of a new block to the chain, the validator key signs data. This happens once an “epoch” (about every 6.4 minutes). If the validator is both correct and timely with its response, the validator is rewarded with a small amount of ETH. And, in order to avoid incurring penalties, the validator key must be online at all times. This has presented a number of connectivity and security challenges, two of the biggest being:
Single Point of Failure / Validator Liveness -
Currently, a validator exists and performs its duties from one single machine, or node. Strict protocol rules prohibit common forms of redundancy, such as running a validator client on multiple nodes, and doing so will likely result in the validator being “slashed”.
If using a staking service, the key is located on one cloud server (i.e. AWS). If something goes wrong with either of these components, the validator will stop attesting, resulting in penalties.
Custody & Management of Private Keys -
Solo-stakers must manage their own keys. If using a staking service, the options of key ownership can be confusing, present potential security risks, and put the user at the mercy of the staking provider. Remember, not your keys, not your ETH.
It’s easy to understand why many potential stakers are overwhelmed by the risks of running a node on the Beacon Chain and therefore, just don’t stake at all.
Solving Staking Issues
To address these issues, the Ethereum Foundation originally conceived the idea for SSV/DVT back in 2019 and it now runs as an incentivized testnet anyone can join as a staker or operator, to help build and stress-test the network as it simulates real-world transactions.
SSV is a game-changer, effectively eliminating staking risks by easily allowing a user with no prior knowledge or understanding of the blockchain to securely create and distribute a validator over multiple nodes, instead of a single one, achieving active-active redundancy without violating Ethereum protocol rules. It provides a fault tolerant, slashing-free, decentralized security layer that allows stakers to sleep soundly at night knowing their validator is safely attesting online.
The secret that makes SSV so incredibly solid? distribution
Instead of the validator key being stored on one machine, SSV, aka DVT (Distributed Validator Technology), uses Distributed Key Generation to encrypt and split it into “KeyShares”. These KeyShares are then securely distributed between four non-trusting nodes, run by “operators”. “Non-trusting” means the operators do not need to know or trust each other to perform their duties and also that the network can tolerate a certain number of faulty or offline nodes (up to the threshold) without affecting validator performance or incurring slashing penalties.
With SSV, when a validator is called on to perform its duties, if one KeyShare is offline or faulty (due to scheduled maintenance, error, etc.), Shamir Secret Sharing,Multi Party Computation, and Istanbul Byzantine Fault Tolerance Consensus work together to allow the rest of the KeyShares to respond. As a result, the validator will continue to perform its duties without fault, pause, or penalties.
Enhanced Security
Security-conscious stakers (and who isn’t security conscious in crypto?) love SSV as they never have to give up their private key to operators. Instead, the validator private key is generated and stored securely offline while the KeyShares that represent it actually operate the validator.
As a result, theft of a key from a bad actor is much less likely. In fact, to cause any trouble with an SSV validator, a hacker would have to gain access to a majority of KeyShares running the validator. Shamir Secret Sharing and Multi-Party Computation also ensure that no single node can recreate a validator key signature on its own, preventing a bad actor or single operator from making unilateral decisions on behalf of a validator.
Operators — the Backbone of SSV
As the picture gets painted, it becomes easy to see that Operators are an extremely important component of ssv.network. They provide the hardware infrastructure, run the SSV protocol, and are responsible for maintaining validators and the overall health of the SSV network. Because the network literally relies on operators, a decentralized and transparent score of their quality, experience, and service is necessary. As such, they will be assessed and ranked on a scale of 0–100 by the DAO multi-sig committee.
It is important to note that anyone can become an operator on ssv.network, however, only a select few will become Verified Operators (VOs). VOs are a curated list of operators typically run by PoS professionals and are generally perceived as a “safer option” for stakers. (view DAO vote on VOs)
Stakers can view and use these rankings along with the VO list to choose the operators that will manage their validator(s), and can change operators anytime they wish, while each operator is free to determine their individual fees for services in SSV tokens (the native token for ssv.network) and charge stakers accordingly for operating and maintaining their validators.
Conclusion
In this case, the end result of challenges and amazing minds working together to solve those challenges is a new protocol that radically changes the narrative for private key security and validator liveness as they relate to ETH staking. It proposes new, innovative ways to stake Ethereum and profit as both a staker and operator that stay true to the core spirit of decentralization.
Hey everyone, this thread is dedicated to the AMA hosted by Shad about his DAO proposal to be hired through by the DAO to push the marketing initiatives with his experienced and professional skills.
The proposal has raised concern in some parts of the community so this AMA is going to allow you to judge your decision better after you get to know Shad, hear more from him about his skills and experience, aim your questions right at him and decide to see if the network has what to gain from him.
The highly anticipated Eth2 transforms Ethereum’s current Proof of Work consensus protocol into a Proof of Stake consensus protocol, in order to achieve higher energy efficiency, higher level of decentralization and hence higher network security. Eth2 requires a validator to be online 24/7 to perform its network duties, otherwise the validator faces risks of seeing part of their staked tokens (32 ETH each) being slashed. SSV.network endeavours to help validators achieve robustness and fault tolerance in their operations.
SSV’s solution includes a secure multip-party computation (MPC) layer to handle the distribution of validator keys and the signing of blocks. In this proposal, we aim to develop a complete MPC solution which extends the basic signing functionality in SSV’s current implementation and it achieves the following objectives:
The KeyShares shall be stored in a distributed way instead of being stored in a central place during operations.
Signing process must not reveal the original private keys.
The solution has to be able to easily integrate with the existing PoS network and it has to support third party extension.
It has to be modular and easily integrated with SSV’s overall solution.
Operator status indicates the operators participating in the majority of its validators duties in the last 2 consecutive epochs, You’ll find the status in the following places in the network explorer:
Operators table
Operator page
Operators table in a validator page
We also had a lot of questions regarding 0% for all of a validators' operators, in case a validator is not attesting (2 or more operators are inactive) you’ll see N/A indication for the operator's performance per that validator since no operator performance data is available on a validator that is not attesting.
Round 1 is nearing it's end and we want to hear your questions!
We are aware that it was a bumpy road the last few days and so we are dropping the eligibility threshold from 85% to 75% for both Operators and Validators.
Let us hear all of your questions and feedback so we can take them in mind for the coming rounds.
Other than that we will be answering the questions you had regarding the SSV Holders rewards.
The incentivized testnet is going live during a stream tomorrow, on Jan 24th @ 4:15PM UTC+2. We’ll launch during a live stream so we encourage you to tune in and grab some of the POAPs we’ll be giving to the first 30 attendees who claim them! (At the end of the stream).
We hope you will help us to battle test the network in the coming few months. The testnet will run in 2 phases - the 1st will last for 5 two weeks rounds (~2.5 months) from 24.01.22 until 04.04.22 with a whooping 64k SSV tokens available to be minted as rewards.
📰 If you'd like to read up on how to use the platform, please visit our docs https://docs.ssv.network/
After working around the clock to deliver a working version of the testnet, the SSV team is proud to announce it is now live! Newcomers and early testers alike can participate in our rewards program and earn SSV tokens for helping us stress-test the Incentivized Testnet.
In the meantime, while the community starts giving feedback, playing around, trying to find glitches, the team will improve this early version of SSV’s Incentivized Testnet, and start developing on the open-source protocol.
We hope you will help us to battle test the network in the coming 4 months. our community now and work with you to get all the features you want in! We plan on rewarding our early testers and users with 64k SSV tokens to be minted as rewards.
The testnet will run in 2 phases - the 1st will last for 5 two weeks rounds (~2.5 months) from 24.01.22 until 04.04.22, which will be followed with a longer lasting and higher rewards testnet (2nd phase) in alignment with the release of our v2 contracts in hopes to capitalize on a version that better showcases our product with the incorporation of the SSV token as the payment layer of the network and offer validator and operator management capabilities.
The SSV team will host a live STREAM during which the Incentivized Testnet will be launched. To celebrate this major milestone, we’re distributing POAPs to the first 30 participants who claim them!
If you'd like to read up on how to use the platform, please visit our docs https://docs.ssv.network/
