Giveth ETH Staking

Giveth Proposals
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Proposal Introduction

Following positive feedback during last week’s community call, below outlines the idea of Giveth ETH Staking.

The MISSION: Giveth to raise money for projects by launching its own ETH staking solution (and help decentralise ETH Staking in the process!)

How can Giveth launch ETH staking?

StakeWise has been offering liquid staking on Ethereum since early 2021 and with its latest upgrade, StakeWise V3, it will be white-labeling its architecture. Once V3 goes live in a matter of weeks, any entity will be able to create their own staking solution in a fully permissionless fashion, with all the complexities of running staking as a service abstracted away and handled by the StakeWise architecture.

The below infographics detail the StakeWise V3 solution and showcase Giveth ETH staking:

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Giveth can offer its ETH staking solution directly within its UI, with the GIVfarm page being an ideal location.

Node Operator Selection

Giveth has full control over who the node operators are for its staking offering. Ideally, solo stakers from within the Giveth community would be able to stake capital on Giveth’s behalf and earn a small amount of revenues in the process. More importantly though, Giveth would be advocating staking with smaller node operators and help increase the decentralization of Ethereum.

It is advised that a small set of trusted individuals from the Giveth core team and community form the initial group of operators. Giveth can look to expand this node operator set over time.

StakeWise has partnerships with a range of commercial node operators and would be happy to introduce Giveth if it would like to have commercial node operators staking for the platform either in isolation or alongside community operators.

Next Steps

I have created a pool on the StakeWise testnet to test this out: Giveth ETH Staking. Hopefully, we can get a group of operators up and running on testnet to provide proof of concept. There is a simple operator service that node operators on StakeWise V3 are required to run. This should be quick to set up and run alongside any existing staking infrastructure. StakeWise has also partnered with Dappnode and will have a dedicated software package available for Dappnode users.

Let me know your thoughts! And if you are a solo staker that wants to take part, comment if you would like to get involved. @mitch @karmaticacid

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Example of Giveth ETH Staking offered via GIVfarms page

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Hey! This is so awesome, I really really like this idea and we’ve been trying to get several things off the ground that are right up this alley.

Hate to leave you in the dark so I just wanted to comment that a bunch of our crew are headed to burning man and will be gone until early-mid september so likely that nobody for now could start working with you guys on this partnership/integration.

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Hello! I’m the CTO + Founder of NodeSet. We have a large community of curated node operators that would be a perfect fit to help operate a Giveth vault! A decentralized node operator set like ours is important to for mitigating the risks involved in staking vaults and staying aligned with Ethereum’s vision of validator distribution.

We’re already planning to operate StakeWise vaults on behalf of others, but we would really love to work with Giveth in particular since we are passionate about helping fund the public goods which enable the Ethereum ecosystem to thrive. We’ve been the recipients of an Ethereum Foundation grant, and we’ve donated to the Protocol Guild in the past, for example.

Please reach out if you’re interested in running a SWv3 vault! We can take care of nearly everything, so it’s a very easy way to bring some extra funding into Giveth with not much effort.

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