Rated is building reputation for machines.
Rated offers a solution to the poor contextualization of validator quality problem. This solution is centered around reputation scores for machines and their operators, starting with the Ethereum Beacon Chain. We seek to embed a large swathe of available information from all layers of a given network, and compress it in an easily legible and generalizable reputation score that can act as an input to human workflows but most importantly, machines (e.g. an API that acts as an input to insurance or derivatives Smart Contracts).
Among the design goals of Rated’s reputation scores are (i) to be maximally descriptive, (ii) maximally predictive and (iii) to capture the elements of human agency behind a validator’s (or a cluster of validators) performance. At the output level, we seek for the model we produce to be maximally (a) generalizable, (b) legible, (c) permanent, (d) live and (e) specific. We do this so that we minimize the downstream disruption on the integrators’ workflows and systems, even as the protocol evolves and the rules that underlie it change over time.
Rated’s mission is to offer and continuously evolve the best methodologies for validator operator ratings, with a community first approach. At its core, Rated operates as a good steward of the networks it gets involved with. We build with open source tools, we contribute to open source tooling, and we build alongside each of the communities we engage. At the methodology level we continuously seek to incorporate feedback from protocol researchers, validator operators, downstream integrators and the broader community that makes up each of the protocols we engage with.
Validator and validator operator scoring is key to the operation of DVT. We see a large surface area upon which Rated and SSV can interoperate, that centers around the consumption of Rated’s “Effectiveness Rating“ in Operator Scoring, initially at the front-end level of the SSV block explorer and down the line at the client & smart contract level. We also see a surfacing for exposing SSV network specific information and context on the rated.network front end.
Below we outline some of the avenues we could explore together–ranked by order of how feasible we think these work items are at present day.
- Integrate the Rated effectiveness rating on explorer.ssv.network and in a dedicated section on the rated.network front-end, scoring (a) individual validators, and (b) operator entities (building on top of the existing implementation for grouping at the entity level). We would seek to implement the Ratedv0 methodology in scoring for indices and groups of indices (operators), as outlined in our documentation.
- Build an SSV specific score (leveraging the Exporter Node) of clusters of SSV distributed validators that we in turn both expose on the rated.network front-end hosted SSV explorer (and optionally back to explorer.ssv.network. Further work to embed useful data (operator and SSV cluster scores) to app.prater.ssv.network, contingent on the stability of the implementation, and allowing for time for Rated to work with the community to improve the formalization of the score.
- Explore work around the optimal format for Rated’s effectiveness ratings to become inputs to the SSV smart contract, and work together to design mechanisms that harden the performance and longevity of SSV clusters.
At the moment we view (1) as the immediately actionable item and the best starting point for a collaboration between Rated and SSV. Given that we are several months away from The Merge, the scope of work would involve us (i) building support for and deploying our methodologies on Prater, (ii) modifying our API to be interoperable with the explorer.ssv.network and (iii) ongoing monitoring, maintenance and improvement of the integration.
In the table below, we outline the scope of work broken down by activity centers and deliverables.
- Prater: Practically replicate all the data and metrics we are currently exposing on rated.network for Beacon Chain Mainnet, in near-identical layout (with adjustments where necessary). We will expose this under prater.rated.network and the main navigation.
- SSV: Drawing from the data we collate from Prater, we will expose SSV specific explorer under the drill-down function we recently published on rated.network (e.g. grouping by SSV operator screen–commensurate to the existing “Entities” screens and flow for the Beacon Chain on rated.network).
Note: all metrics should translate 1:1 from our current data pipelines on the Beacon Chain to Prater and SSV, except for cases in which there are terminal bottlenecks that will blow the scope of work out of proportion.
We propose a grant of total value equivalent to 70,000 USD to cover the scope of Phase 1–as outlined above. At Rated, we view the native tokens we receive as building agency and governance power within the organizations and protocols we work with. We feel this is an important mechanism for incentive alignment and ongoing engagement, with a long term view.
As such, we further propose that the grant is issued in ⅓ USDC and ⅔ SSV tokens to allow for a window through which we can cover running op-costs relating to the proposal.
Note: the current proposal relates to only Phase 1. Successful completion of Phase 1 is not meant to auto-trigger a Phase 2 & 3. We propose revisiting those with a renewed scope, firmed up delivery timelines and valuation once Phase 1 has been completed, and contingent upon parallel progress on both the SSV and Rated roadmaps, as well as the successful completion of the Ethereum Merge.
We propose the following terms for fulfillment of the grant proposal:
- 33% of the total grant size (23,300 USD) in SSV tokens is fulfilled upon acceptance of the proposal from the SSV governance body.
- The SSV/USD exchange rate should be computed as the 14-day moving average of SSV/USD closings, dating backwards from the date of approval, referenced from Coingecko.
- 33% of the total grant size (23,300 USD) in USDC is fulfilled upon delivery of the final item of Phase 1 (SSV explorer hosted on the rated.network front-end).
- The SSV/USD exchange rate should be computed as the 14-day moving average of SSV/USD closings, dating backwards from the date of delivery of the final item, referenced from Coingecko.
- 33% of the total grant size (23,300 USD) in SSV tokens is fulfilled upon completion of the review of Phase 1 from the grants committee (no more than 20-days post initial delivery).
- We propose allowing for a 30-day period between initial delivery and close of Phase 1 for review by the SSV leadership team, and amendments where necessary.
We hope that this proposal will mark the beginning of a long and fruitful partnership between two platforms that have the potential to drive value and knowledge to one another and help propel each other forward perpetually.