ETHx Rolling Beta Launch

This blog explains the ETHx Rolling Beta Launch.

ETHx Rolling Beta Launch

Stader Labs — An Introduction

Stader Labs is a leading multi-chain LST platform that is present across 6 major PoS blockchains, including Polygon, Bnb, Hedera, Fantom, NEAR, and Terra 2.0. With over $110 million in TVL, Stader is trusted by 70,000+ wallets and a community of 240k+ members. Our next stop is ETH where we are coming with our liquid staking token ETHx.

What is ETHx?

ETHx employs a multi-pool architecture that will include 2 node operator pools at launch — Permissionless and Permissioned. We will subsequently add the DVT Pool and other pools. The multi-pool design makes our product both scalable and decentralized, allowing permissionless node operators to stake with ~85% lower capital (Just 4 ETH!) while earning 35% higher yields compared to solo-staking.

The ETHx design incorporates 13 key modules, 12 of which have been developed in-house by Stader and 1 is forked from RPL’s open sourced smart node code. A big shoutout to the vibrant open source community at Ethereum for their support for the latter!

ETHx Rolling Beta for Permissionless Node Operators

We can’t wait to bring ETHx to node operators and users on Ethereum and are thrilled to announce that the ETHx Rolling Beta for permissionless node operators is launching on Monday, the 27th of March on the Goerli Testnet. Goerli is one of the most popular ETH testnets and the latest testnet to undergo the Shapella upgrade to test withdrawals, providing the best testing environment for the ETHx Rolling Beta.

Those interested in the upcoming ETHx Rolling Beta can setup their infra as per the below requirements so that they are all geared to kickstart participation as soon as we go live :

Hardware setup recommendations

  • OS: Linux(Ubuntu) and MacOS (Intel or M1)
  • CPU: 4core processor or above, Architecture — ARM 64 or AMD 64
  • RAM: 16 GB or above
  • SSD: 2TB or above
  • Network: 25+ Mbps
  • Data cap: 2TB+/month

The ETHx Rolling Beta for permissionless node operators is scheduled in 2 phases:

Phase 1:

  1. Stader CLI installation: The participating node operator (NO) needs to download Stader Node Client and initiate the setup process.
  2. Node Operator setup: Post the CLI installation, the operator needs to be set-up. It includes the installation of a Docker stack that includes NO’s preferred ETH1 client (Geth/ Besu/Nethermind), ETH2 client (Lighthouse/ Prysm/Nimbus/Teku), MEV Boost setup, etc. using the Stader Wizard.
  3. ETH & SD Bonding: We check the deposit workflows at this step. NO will deposit 0.4 GoerliETH worth of $SD and 4 GoerliETH as a bond to start an ETHx validator. Please note that these will be given by Stader.
  4. Validator activation: 28 GoerliETH representing user funds are added to the validator’s 4 GoerliETH bond to reach the 32 GoerliETH balance for activating the validator on the Goerli Testnet. Participating validators are requested to stay active till the end of the Rolling Beta (total duration of 6–8 weeks).

Phase 2:

  1. Performance monitoring: This step ensures that the validators have access to the required dashboards & metrics. Validators will be able to monitor their performance and payouts on Grafana dashboards.
  2. Rewards: Rewards accrual will also be tested in this phase. Node Operators will be able to claim their EL and SD rewards at the node operator level and CL rewards at a validator level.
  3. Validator Exit: This is for the instance when the node operator wants to exit the operation partially or completely. They can broadcast their exit message on the beacon chain and test a successful exit.

This ETHx Rolling Beta on the Goerli testnet mirrors the process of setting up a node & running a validator on the mainnet. A node operator, who completes both the phases, should be able to run a validator on the mainnet successfully.

The Stader Node CLI (ver 0.3.x | Beta) on Goerli Testnet is intended exclusively for the use of those who have applied for participating in the ETHx Rolling Beta launching on 27th March 2023. We are hence thrilled to invite all node operators to participate in our ETHx Rolling Beta to test the features & ensure a successful onboarding to the mainnet.

The beta for permissioned node operators, oracle nodes and users will be scheduled separately with additional incentives. Detailed guidelines on these will be shared shortly.

Incentive Program for ETHx Beta Participants

We have exciting incentives for our testnet participants with exclusive benefits for the top 100 node operators who spin up a node on the testnet for the ETHx Rolling Beta. Here is what is in store for the ETHx Beta Participants:

  • 30,000 $SD tokens with distribution based on individual contribution to the testnet

For more details on ETHx Rolling Beta incentives, check here

  • Early access to bounties, referral program and more for ETHxclusives Top 100 NO group
  • Extra incentives for the ETHxclusives Top 100 NOs who join the mainnet within the first 3 days of launch (T&C Applied).

Here is detailed primer for your reference.

Join our Discord community, ETHxclusives, to get started. Our team is there to assist you on every step of the ETHx NO journey.

Thank you for supporting us in this exciting new project. We can’t wait to work together with all the node operators to make EthX the best that it can be!