SafeStake, a cutting-edge infrastructure and protocol featuring distributed validators (DVT) for enhanced ETH staking and network decentralization, is now in its final stage of testing on Ethereum’s Holesky testnet before launching on Ethereum mainnet.
Leading up to this final phase before the product handles real Ethereum validators was more than nine months of stress testing SafeStake’s ability to split a validator private key into key shares and allow multiple operators to use those shares to attest on behalf of the validator. Testing happened on a public testnet on Goerli, dubbed Galileo, and while the tech stack ran quite stably there for more than half a year, the core team is taking the added precaution of testing the code in an environment more similar to the real thing.
SafeStake splitting a validator private key into four (4) key shares and distributing them to four (4) operator nodes. Even if one (1) node is offline, the validator is still able to attest for the Beacon Chain.
Additionally, the smart contracts that power SafeStake went through two intensive audits by two different independent and highly rated smart contract security firms, Nethermind and PeckShield. Only a few minor issues were discovered, and the team has already fixed them.
Soon, when 20 individual professional operators onboard to SafeStake on Holesky and testing goes smoothly for 30 days, the initial SafeStake private mainnet launch will happen, sometime in late February or early March. This private mainnet, with a limited subset of curated operators and validators, will last for 60 days and establish the proof-of-concept needed to open SafeStake’s permissionless mainnet to the public in early-mid May.
To prepare for this upcoming launch on Ethereum mainnet and onboard both professional operators and mainnet validators to their DVT product, SafeStake has announced an amazing incentive program.
These incentives include 3.6 million $DVT, the network’s native token that serves mainly as a payment device from stakers to the operators that manage their validators. However, $DVT also plays a big role in network governance by allowing holders to vote on governance proposals.
In addition to the 3.6 million $DVT, SafeStake has upped the ante by adding a one (1) ETH prize that will be given away when their private mainnet reaches the milestone of onboarding 250 mainnet validators. When this happens, two separate random drawings will be held, one between the network’s professional operators, and the other between the 250 validators that onboarded and participated in the first 90 days of SafeStake mainnet, to determine the two lucky winners of 0.5 ETH each.
Want to test drive SafeStake’s distributed validator technology and earn some valuable rewards? Operators should check out SafeStake’s DVT platform on Holesky, while ETH stakers (validators) should consider signing-up to reserve their spot on SafeStake’s private mainnet. Spots are limited and the first 250 validators that join and stay active for the first 90 days will each earn 5,600 $DVT.
About SafeStake
SafeStake is a pioneering technology company focused on revolutionizing Ethereum staking. With its cutting-edge, decentralized Distributed Validator Technology (DVT), SafeStake provides an ultra-secure, fault-tolerant environment for Ethereum validators, maximizing staking rewards and minimizing penalties and slashing. SafeStake is committed to driving the growth, innovation, and decentralization of the Ethereum network while ensuring the security and prosperity of its participants.