The purpose of this temperature check is to establish the Blockswap DAO’s interest in a more formal relationship between it and SafeStake for the purposes of attracting more Ethereum validators to Blockswap/Stakehouse when SafeStake Stage 1 launches live on Ethereum mainnet. The current estimated timeframe for an initial SafeStake mainnet launch is 30-60 days.
As a bit of background, SafeStake is a DVT (Distributed Validator Technology) solution for maximizing ETH staking rewards and minimizing penalties. In short, our technology securely splits a validator private key into four shares and distributes those shares to four decentralized and independent operators. Now, instead of the private key doing the work, the shares come together to attest on behalf of the validator via the operator nodes. The private key no longer needs to be online and available and can be stored safely offline. Additionally, our technology is fault-tolerant, allowing one of the four operators to be offline or compromised while the other three continue attesting on the validator’s behalf at 100% effectiveness.
For the past few months, team members from SafeStake and Blockswap Labs have collaborated on several informal cross-promotional activities on Twitter, Telegram, and Discord.
After successfully creating a few StakeHouse validators (with only 4 Goerli ETH) and importing the validators to SafeStake, we created and posted a short video showing users step-by-step how quick and easy the whole process is.
It is apparent that some staking and DVT solutions are complicated for users without prior technical knowledge. And, as we all know, the staking threshold is high. In its first iteration, SafeStake only supports 32 ETH deposits by importing validator keystore files. So, the unique Blockswap/Stakehouse x SafeStake combination allows ETH stakers to have the best of all worlds:
- Blockswap/Stakehouse - a turnkey solution for low-threshold validator creation and high-return liquid staking.
- SafeStake DVT - an easy to use drag-and-drop interface that provides an ultra-secure decentralized environment for Ethereum validators, maximizing staking rewards and minimizing penalties.
It seems that team members on both sides quickly realized the synergies that exist between Blockswap and SafeStake and believe there is the potential for even more to help propel growth for both organizations to a level nothing short of exhilarating.
In the time between now and the SafeStake mainnet launch, we propose the following:
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Collaboration: Continue and expand upon the current collaborative relationship. Of course, content is king, so we are planning more activities in Spaces, including four panel discussions with industry experts happening in August. We are also excited to produce additional short videos and other engaging content for our dedicated and loyal community, consisting of over 35,000 members across Twitter, Telegram, Discord, CMC, YouTube, and our email newsletter.
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Establish Mainnet Incentives: We believe the creation of new incentive mechanisms, like the proposed [BSN Bribe marketplace for Fren Delegation], will offer exciting and innovative ways to attract users to participate in Blockswap/Stakehouse validators. SafeStake could provide a set amount of DVT tokens as incentives for those that also choose to add DVT and would request that the Blockswap DAO match our incentives with BSN incentives. This would be pending discussions with the Liquidity Council and would go into effect after a SafeStake mainnet launch.
Of course, we propose coordinating the timing of these initiatives to best fit the roadmaps of both Blockswap and SafeStake to maximize results and minimize costs.
Proposed Compensation: Since this proposal outlines a mutually beneficial relationship between SafeStake and the Blockswap DAO, SafeStake is not requesting any compensation in the form of BSN tokens.
