StakeWise V3 Announcement

Clinton — Fri, 30 Sep 2022 07:36:16 +0000

As an active staking ecosystem participant, StakeWise has observed first-hand the detrimental effect that stake centralization has on competition and the risk it poses for Ethereum’s security and health. So their team set out to do something about it.

They are pleased to announce the development of StakeWise V3, a major upgrade to the StakeWise protocol aiming to help decentralize Ethereum.

StakeWise V3 allows anyone who is capable of running Ethereum validators to participate in liquid staking and receive staking delegations from others. Whether you are a solo staker, a DeFi community, or a telekom operator, you can use StakeWise V3 to stake your own ETH, run validators for others, or both.

No permission is required to join — StakeWise V3 is completely permissionless to enable a variety of individuals and organizations to support the Beacon Chain at scale. This is the only way statewide can achieve it’s mission: to maximise the health of the Ethereum ecosystem.

StakeWise V3 will make the following use cases possible:

anyone can join as a node operator without permission or collateral, including solo stakers;
solo stakers can mint liquid osETH tokens against their own node;
ordinary stakers can freely allocate ETH to specific node operators of their liking, including solo nodes;
DeFi users can stake by holding a liquid osETH token protected against penalties and slashing; and
institutions & crypto exchanges can create private mini-pools with access controls and the ability to tap into a decentralized network of nodes with a liquid osETH token ecosystem.

The release of the StakeWise V3 upgrade is scheduled for late 2022.

Conclusion

The only way to reverse the centralization trend that liquid staking services bring to Ethereum is by proactively encouraging the reallocation of new Ether inflows towards smaller but quality operators, and increasing the participation of solo operators in the network. StakeWise V3 aims to achieve both. With the V3 concept, we enable liquid staking for solo operators, and create a node operator marketplace to help discerning and mission-driven users to choose their own staking providers. The new architecture introduced by StakeWise allows individuals and organizations to mint osETH, a liquid staked Ether token, based on their own nodes. They can do so without jeopardizing the safety of the DeFi ecosystem, thanks to the overcollateralized nature of osETH.

SOURCE:

https://stakewise.medium.com/stakewise-v3-announcement-9e4fe73abdf2

The post StakeWise V3 Announcement appeared first on Smart Liquidity Research.

#Stakewise Archives - Smart Liquidity Research

StakeWise V3 Announcement

Conclusion