SSV Network

Event details

Having as many testnet participants as possible is critical for optimizing the network’s performance, accelerating development efforts and constantly receiving much needed feedback. Networks are measured by users and the services they interact with. Introducing an incentivisation program will help grow the user base and ensure the best operators(service providers) are getting compensated for their efforts.   The ultimate goal is to have thousands of validators run by 50+ operators before the launch on mainnet. The next big challenge is to get as many validators as possible and make sure they are diversified across the many service providers in the network.

Prize pool

This is the biggest incentivisation program in Blox’s history. Anyone who remotely cares about Ethereum and staking in general is welcome to get involved. 32,000 SSV tokens is probably a great start, and Blox plan to increase the prize pool as the network grows.   The prize pool will be divided between Operators and Validators in the following way:

• 50% to all active validators
• 25% to all Operators (verified and non verified)
• 25% to verified operators only

Every active validator/operator in the network will be eligible to participate in the airdrop. SSV tokens will be airdropped at the end of each month before mainnet launch. The airdrops will last until year end, around 2.5–3 months.  

Active participants and verified operators

As a validator(staker) all you need to do is stake 32 GoETH with 4 Operators of your choosing. Your validator has to be active throughout the entire week and maintain 90% attestation rate or above. All eligible validators will be able to take part in the SSV airdrop. Make sure you choose the right combination of operators so you will be able to ensure optimal validator performance.   Stakers will be compensated for operator diversification as well. The lower the amount of validators managed by the operator of your choice, the more rewards you will generate. If you are considering 2 operators with similar performance, choosing the one with less validators will allow you to improve your SSV returns. The idea distributing validators between as many nodes as possible and ensure overall network health. A great way to view operator stats is in the SSV.network explorer   Operators should run SSV nodes for an entire week with attestation rate above 90%. SSV rewards will be divided between operators according to the # of validators they help manage. For example, if total # of shared keys is 1K and one of the operators is managing 100 keys, that specific operator will be able to claim 10% of the Operator prize pool.   Verified operators share a special reward of 25% of the total reward pool. VOs are known companies/individuals with proven experience in running large scale blockchain infrastructure. VOs are generally considered as safer choices of stakers. At present, VOs are screened byBlox. In mid September Blox will stop verifying operators. Coming October, the screening process will become much more rigorous and controlled entirely by SSV DAO. The DAO will vote on a structured process all operators should undergo for becoming verified.  

The SSV token model

The incentivized testnet program mimics the SSV token model when implemented in mainnet. Operators receive compensation for running nodes, validators get to generate ETH rewards passively while enjoying all the benefits of decentralized ETH staking.   SSV token is used for governance as well, rewarding early stage participants will allow us to distribute SSV tokens to as many involved community members as possible. The SSV tokens will enable testnet users to vote on DAO decisions and help shape the future of decentralized staking.

Distribution mechanics

At the end of each week, Blox team will announce a cut-time for calculating reward allocation per eligible operator/validator. Following the cut-time, Blox will present the community with a list of eligible addresses and their share in the prize pool.   Following the list publication, all participants will have the opportunity to challenge the distribution and suggest adjustments to the official allocation table. Blox will review all community suggestions and airdrop the SSV reward pool according to the finalized list.   Disclaimer: All elements of the Incentivized Testnet, including its proposed rules and rewards, are subject to change at any time and are at Blox’s full discretion. A comprehensive T&Cs for the program shall be published prior to its launch.

FaQ

Can I become an operator? SSV.network is a decentralized, open source network. Anyone can become and operator and validator. Becoming a verified operator, however, is harder and in later stages will require DAO vote. Can I run multiple validators? Yes, you can run as many as you want. Users who will randomly set up a huge amount of validators might be disqualified. The program is supposed to mimic mainnet, validators are expected to make conscious decisions about their chosen operators. The network requires ‘real users’ in order to be tested correctly. How can I get GoETH? Any staking project is able to provide you with GoETH, including Blox. Visit Blox Discord and Blox team will send some GoETH your way.