[Notice] Upgrades to Align Stakehouse Protocol with Shapella
Introduction
This notice aims to inform Blockswap DAO and Stakehouse users about the upcoming upgrades to Stakehouse in regard to withdrawals. These upgrades are to align the smart contracts with Ethereum’s Shapella upgrade. As Ethereum undergoes one of it’s most crucial updates, it is essential that Stakehouse stays up-to-date and compatible, ensuring the best possible experience for users.
Background
The Shapella upgrade is one of the most significant upgrades to Ethereum since Bellatrix and the Merge. Users are anticipating a fluid movement of their ETH in and out of Ethereum staking and staking protocols. Stakehouse was always designed with this in mind allowing solo stakers to exit the protocol immediately upon entering. Stakehouse LSD Network is a bit more nuanced as there are multiple stakeholders per validator. The granular level traceability of every ETH in a validator gives great benefits to stakers and protocols. That said, all withdrawal operations are a bespoke contract suite to fit inside the Stakehouse ecosystem.
For more information on the Shapella upgrade, please refer to the EF mainnet Shapella announcement.
Key Stakehouse Changes
The Stakehouse upgrades involve several key changes that will be implemented to align with Ethereum’s Shapella upgrade. These changes include:
- Enabling withdrawals: The ability to Rage Quit and remove partial ETH from a validator will be enabled after Stakehouse’s withdrawal contract is deployed. This is expected in May.
- The transition of savETH accrual to a system-level operation with partial withdrawal sweeps: In accordance with the partial withdrawal sweeps specification by EF for validators with over 32 ETH active balance, savETH accrual will become a system-level operation. Custom Balance Reports will no longer be available, and validators will need to wait for their sweep to process and finalize before reporting. Stakehouse allows for validator-level tracking and reporting. Therefore it will be able to expose the withdrawal sweep data via the Stakehouse Monitoring ETL.
- There will not be any updates to Balance Reporting in regard to registering validators or minting derivatives.
Additional Information
Expected upgraded contract deployment: May
Blockswap Labs is closely monitoring the Shapella mainnet operation to ensure Stakehouse smart contract logic alignment with Ethereum blockchain operations. These contracts are currently under audit by Runtime Verification to ensure security and ensure compatibility with the Shapella upgrade. The contract construction is based on Geori’s latest client specifications, ensuring compatibility with Ethereum’s Shapella upgrade.
Users will be able to monitor how withdrawals will affect their positions on Goerli monitoring. In the future, the core contributors may release a note explaining the new earnings/losses calculations due to the Shapella upgrade.
Implementation
To ensure a successful upgrade of Stakehouse in line with Ethereum’s Shapella upgrade, the following steps will be taken by Core Contributors Blockswap Labs.
- Monitor Shapella upgrade developments: Continuously track the progress and developments of Ethereum’s Shapella upgrade, adapting the Stakehouse contracts as needed.
- Address Security Concerns: Formal security audit from Runtime Verification.
- Testing: This will be done via Goerli.
- Blockswap Labs will design, develop, create, support, and execute this in a way they think is best for Blockswap DAO. As withdrawals have always been intended as a feature offering for Stakehouse LSD Networks, the core contributors will create it.
Community
The community is encouraged to provide feedback and test the protocol upgrades. If there is any strong adverse reaction by the community to this feature being turned on, it can be discussed in greater detail. This can be seen as enabling a feature which could not be turned on or developed prior to the Shapalla upgrade. Therefore it is not a change to the protocol but rather adding increased functions that were intended prior to the original deployment.
Conclusion
The upcoming Stakehouse upgrades are to align the protocol with Ethereum’s Shapella upgrade. These changes are vital for maintaining the protocols functionality, security, and compatibility with the evolving DeFi landscape. Security partners are being engaged throughout the upgrade process to provide peace of mind to the community who has already staked, and those who plan to stake using Stakehouse.