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