This is the final proposed draft for the upcoming testnet which is based on the community feedback to previous iterations, and of insights from running the rewards calculated based on the last two weeks of the testnet.
The data used for the rewards calculations can be viewed here along with:
- A reward lookup tool to enable all testnet participants to check their rewards eligibility (if you suspect or have any data to contradict this data please reach out and let us know).
- An overview of the eligible users of the testnet with a breakdown to the allocations.
- A tiered rewards distribution breakdown.
- Different distribution amounts simulations through various user benchmarks.
For transparency, a similar spreadsheet will be available and shared with the community per testnet round.
- 64k SSV tokens are to be minted as rewards.
- The testnet will run for ~2.5 month through 5 rounds starting from 24.01.22 until 04.04.22
- Rewards will be calculated per round but distributed in aggregation at the end of the testnet on the Ethereum mainnet.
- Users eligibility and reward calculation will remain as outlined in the previous proposal, except for operators rewards calculations which is updated to use a logarithmic function.
Running the calculations on the previous two weeks of the testnet (epochs 62332 - 65732) presents the following:
- There are 756 users eligible for rewards.
- Out of 5,214 validators, only ~1.7K validators are “should be attesting” (not exited, with at least 3 active operators), out of which 1114 are eligible (attestation rate > 85%).
- ~500 Blox’s validators were excluded.
- Out of 838 operators, 284 are eligible, out of which 50 are verified.
- There are 27 SSV holders with 42K SSV “staked”.
- The testnet will run in 2 phases - the 1st will last for 5 two weeks rounds (~2.5 months) from 24.01.22 until 04.04.22, which will be followed with a longer lasting and higher rewards testnet (2nd phase) in alignment with the release of our v2 contracts in hopes to capitalize on a version that better showcases our product with the incorporation of the SSV token as the payment layer of the network and offer validator and operator management capabilities.
- The discussed and proposed terms apply for the 1st phase of the testnet and a dedicated proposal will be up for the 2nd phase due time.
- To lower overall transaction costs for our users and to reduce overhead associated with claiming rewards on a cheaper network (e.g. xDai as initially suggested) like bridging assets and acquiring a native token for gas, the rewards will be distributed once at the end of the testnet (first phase) on the Ethereum mainnet.
- The distributed amount will be the aggregation of rewards calculated per round in order to incentivize engagement and increase chances of user eligibility throughout the testnet duration.
- A logarithmic function c0.01 will be used to calculate operator rewards instead of the previous linear function, to flatten the curve and spread the rewards more evenly between the majority of the participating operators.
If there are no special objections to the presented above, this proposal will be up for a vote on Monday the 17th.