Add some difference analysis I conducted after reviewing, as well as a link to DIP-11： [DIP-11] Mainnet Proposal
Moreover, and more importantly, I strongly support this proposal as it makes the SSV scheme more mature and robust.
What Does DIP-33 Change Compared to DIP-11?
Recap: What DIP-11 Introduced
DIP-11 laid the groundwork for the mainnet launch of SSV.Network, giving the DAO control over key network parameters, including:
Network Fee Mechanics (DIP-11)
- Fee Formula :NetworkFee = 32 ETH × APR × FEE × ETH/SSV ÷ BlocksPerYear
- Fee Schedule :
- 0.5% of ETH staking APR initially
- 0.75% after 1 year
- 1% after 2 years
- Update Mechanism :
- Network Fees were subject to a “Deviation Check” on the 15th of each month.
- If the calculated value changed by more than 15%, the DAO Multi-Sig must update the fee.
- No guarantee of advance notice or a defined execution path.
What DIP-33 Changes
DIP-33 refines the fee update mechanism to address volatility, uncertainty, and liquidation risks.
Key Improvements
| Feature | DIP-11 | DIP-33 (Amended) |
|---|---|---|
| Deviation Check Timing | 15th of every month | Changed to the 1st of every month |
| Advance Notice | Not specified | Requires a minimum 14-day notice before any Network Fee change |
| Deviation Threshold | >15% triggers update | No change (still 15%) |
The Goal of DIP-33
To enhance predictability and stability for Operators and Stakers by:
- Avoiding sudden fee changes
- Preventing unanticipated liquidation events
- Allowing everyone time to adjust funding and operations
TL;DR:
DIP-33 refines the Network Fee mechanism introduced in DIP-11 by introducing a monthly check on the 1st, requiring at least 14 days’ advance notice for any fee change, and clarifying the governance process for executing such updates. The result is a more stable and predictable system for all network participants.