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The rise of Decentralized Staking-as-a-Service is upon us
We NEED DSaaS protocols to disintermediate any Centralized SaaS providers, for the protection of Ethereum!
I wrote about the DSaaS thesis using @Rocket_Pool's model in @BanklessHQ!
Thread
https://newsletter.banklesshq.com/p/how-ethereum-can-democratize-eth2
We NEED DSaaS protocols to disintermediate any Centralized SaaS providers, for the protection of Ethereum!
I wrote about the DSaaS thesis using @Rocket_Pool's model in @BanklessHQ!
Thread
https://newsletter.banklesshq.com/p/how-ethereum-can-democratize-eth2
Design Goals of DSaaS
1. Break up Ethereum Po into component parts
- Have 32+ ETH, but no hardware?
- Do you have the hardware, but no ETH?
- Or maybe not enough ETH?
DSaaS protocols coordinate the staking components to produce a functioning decentralized Ethereum PoS network
1. Break up Ethereum Po into component parts
- Have 32+ ETH, but no hardware?
- Do you have the hardware, but no ETH?
- Or maybe not enough ETH?
DSaaS protocols coordinate the staking components to produce a functioning decentralized Ethereum PoS network
2. Provide Staked-ETH Tokens
All Staking-as-a-Service providers (decentralized or centralized) will issue a Staked-ETH token.
These will be yield-bearing ETH deposit notes, and will be good collateral for #DeFi!
In fact, these will all compete to be money on Ethereum!
All Staking-as-a-Service providers (decentralized or centralized) will issue a Staked-ETH token.
These will be yield-bearing ETH deposit notes, and will be good collateral for #DeFi!
In fact, these will all compete to be money on Ethereum!
3. Protect Deposits, Earn Interest
DSaaS systems will accept ETH from users, and protect them to the best of their ability.
Properly designed and incentivized DSaaS systems should have extremely strong uptime, and be able to increase the interest to their Staked-ETH tokens
DSaaS systems will accept ETH from users, and protect them to the best of their ability.
Properly designed and incentivized DSaaS systems should have extremely strong uptime, and be able to increase the interest to their Staked-ETH tokens
4. Incentivize node operators to outperform
Unlike Centralized SaaS systems, DSaaS systems can tinker with human incentives via a TOKEN.
@Rocket_Pool does this with their RPL token, to economically incentive node uptime!
Makes for a strong rETH staked-ETH token!
Unlike Centralized SaaS systems, DSaaS systems can tinker with human incentives via a TOKEN.
@Rocket_Pool does this with their RPL token, to economically incentive node uptime!
Makes for a strong rETH staked-ETH token!
5. Ensure staking infrastructure and components are keeping with Ethereum’s philosophy and security.
This is the ethos component. I believe that there are strong philosophical and ethical arguments for why Ethereum is GOOD, because of the good virtues that it upholds.
This is the ethos component. I believe that there are strong philosophical and ethical arguments for why Ethereum is GOOD, because of the good virtues that it upholds.
5.1 These are the things that are at stake with Ethereum!
DSaaS can help the world steward the values that Ethereum bring to the world.
DSaaS can help the world steward the values that Ethereum bring to the world.
rETH is Money
rETH, @Rocket_Pool's staked ETH derivative token, NEEDS TO BE COMPETITIVE AS MONEY.
Liquidity begets Liquidity, and if Coinbase issues a Staked-ETH token that dominates as money, it could be the 'DETH of Ethereum' https://medium.com/ideo-colab/the-deth-of-ethereum-98553866e81b
rETH, @Rocket_Pool's staked ETH derivative token, NEEDS TO BE COMPETITIVE AS MONEY.
Liquidity begets Liquidity, and if Coinbase issues a Staked-ETH token that dominates as money, it could be the 'DETH of Ethereum' https://medium.com/ideo-colab/the-deth-of-ethereum-98553866e81b
I think rETH will be competitive as money.
The Protocol Sink predicts this.
RocketPool is a protocol, and is a credibly neutral system for creating a Staked-ETH note (rETH).
Their protocol is globally accessible and politically neutral, which makes for a good money!
The Protocol Sink predicts this.
RocketPool is a protocol, and is a credibly neutral system for creating a Staked-ETH note (rETH).
Their protocol is globally accessible and politically neutral, which makes for a good money!
Over time, I think we will see many centralized SaaS providers simply come to use @Rocket_Pool as their protocol-of-choice to be their back-end staking infrastructure! https://twitter.com/Rocket_Pool/status/1352499122763251713?s=20
Decentralized Staking-as-a-Service applications MUST come to Ethereum, and we must be stewards for their growth!
Read the rest of the article, because the DSaaS rabbit hole is DEEP https://newsletter.banklesshq.com/p/how-ethereum-can-democratize-eth2
Read the rest of the article, because the DSaaS rabbit hole is DEEP https://newsletter.banklesshq.com/p/how-ethereum-can-democratize-eth2
