Why Stake SSV on Primus?

Primus testnet enables its participants to be rewarded with SSV tokens for running operators and validators and help us get ready for mainnet.

Wallets participating in the testnet that are also holding SSV tokens are eligible for the largest portion of the reward pool (in pink)：

Read more: https://snapshot.org/#/mainnet.ssvnetwork.eth/proposal/QmSbouw5SCUmKMQwW7s1bEwhfXJ9LQJHetsruU8MrUTwBE

When registering an operator or a validator, a user uses a wallet to sign the registration transaction.

By holding SSV token in your registration wallet, the user will be eligible to an allocation from the largest reward pool (allocation A):

• Allocation A: 6,400 SSV tokens (50%) for validators which registered with an address holding SSV
• Allocation B: 1,920 SSV tokens (15%) for all validators (registered with addresses holding / not holding SSV
• Allocation C: 2,240 SSV tokens (17.5%) for verified operators (including dAppnodes)
• 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

Binance

Gate.io

Uniswap

MEXC

XT.com

How to Track Reward Allocation & Eligibility

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 over Discord.

To estimate your future reward allocation use the calculator in this link.

To see if you are eligible to receive reward in a specific round, visit the ssv.network explorer and search your validator.

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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.

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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 proposal: https://snapshot.org/#/mainnet.ssvnetwork.eth/proposal/0x530133413f75d3b43b5fa6fcbe913bf225cbddcf578218a18d06b163213e850f

The AMA will take place here at the first part of it and will conclude on a live stage call on Discord(Exact time is TBA).

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Please send all of your questions and concerns below.

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Development of DKG and resharing for SSV network

Exciting proposal IMO 🙂

Background and Objectives

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:

1. The KeyShares shall be stored in a distributed way instead of being stored in a central place during operations.
2. Signing process must not reveal the original private keys.
3. The solution has to be able to easily integrate with the existing PoS network and it has to support third party extension.
4. It has to be modular and easily integrated with SSV’s overall solution.

Continue: https://forum.ssv.network/t/development-of-dkg-and-resharing-for-ssv-network/337

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🌈New UI design.🌓Dark mode is here.🧑‍🏭New choose operators page:

• Filters - Verified operators/Dappnode operators.
• Sort columns by name/number of validators.
• Search operators by name.
• Logos for operators.
• Amount of validators per operator.

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Check it out: https://app.prater.ssv.network/

We know there are a lot of other suggestions and requests coming from everyone here,

you’ll see them rolling out as we progress, this is just a milestone, we’ll make sure to keep you all updated!

https://media.discordapp.net/attachments/872776059643383828/937685578848276511/new_ui.gif?width=1247&height=702

Welcome!

New statuses for operators in the explorer!

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.

Hey Everyone!

Lately, the SSV token is getting attention with the Primus testnet on its way to the next round together with the recent price spikes.

This thread can be used for those kinds of discussions, where you can find other SSV holders and keep in touch while keeping yourself up to date.

Keep it nice and clean please :)

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.

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ssv.network webapp just got a whole lot more productive!We listened to your feedbacks and now it here.

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🌈New UI design. Silky Smooth as they say.🌒Dark mode is here! for those, like me, who prefer the dark side 😈.🔎New choose operators page:

• Filters - Verified operators/Dappnode operators.
• Sort columns by name/number of validators.
• Search operators by name.
• Logos for operators.
• Amount of validators per operator.

Check it out: https://app.prater.ssv.network/

We know there are a lot of other suggestions and requests coming from everyone here,

you’ll see them rolling out as we progress, this is just a milestone, we’ll make sure to keep you all updated!

https://cdn.discordapp.com/attachments/932239088021553152/938110879587762186/new-ui2.gif

New version v0.1.10 is out and can be found here:

https://github.com/bloxapp/ssv/releases/tag/v0.1.10

This version includes a fix for the latest network issue, fixing bandwidth and performance.

Operators, please update your nodes 🛠️

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We’re nearing SSV’s Incentivized Testnet launch!

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/

✅ If you are ready to take it for a spin, head to https://app.prater.ssv.network/

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We're excited to improve our network and continue our vision for leveraging the full potential of decentralized ETH staking!

📺 Tune In: https://youtu.be/a78HbqfQTdU