NodeDAO 2.0
Overview
This NodeDAO 2.0 implementation plan streamlines the LiquidStaking process, enhances user flexibility by allowing individualized pools. Additionally, we will be integrating RestakingPool with EigenLayer for improved functionality.
NodeDAO 2.0: The Upgraded Liquid Staking Solution
NodeDAO 2.0 is a liquid staking solution designed to provide users with a secure, regulated, and efficient ETH staking experience. It boasts several key features:
Smooth Growth Rate: An innovative mechanism ensures the staking pool's exchange rate grows smoothly, avoiding drastic fluctuations.
No Slash Risk: DVT runs the validators, eliminating the risk of slashing penalties for users.
4-layer APR income: Beyond native staking rewards, users earn additional rewards through EigenLayer Points, Incentivized SSV, and NodeDAO Points.
Permissionless Operators: Future plans include allowing permissionless operators, lowering the barrier to entry.
Composability: NodeDAO 2.0 can serve as a staking module for other protocols, offering flexible scalability.
NodeDAO 2.0's core features include:
ETH
This represents Ethereum, a popular cryptocurrency.
Stakers
This refers to people who are interested in participating in the staking process. Staking involves holding cryptocurrency for a specific period to support a blockchain network and earn rewards.
nETHPool
This pool refers to a staking pool for Ethereum tokens. Users can deposit their ETH holdings into this pool to participate in staking. This pool is backed by distributed validator technology. It splits the private key used to secure a validator across multiple computers organized into clusters, making it difficult for attackers to access the key.
NETH
This token seems to be a representation of staked Ethereum in the nETHPool. When users stake ETH in the pool, they might receive an equivalent amount of NETH. NETH essentially functions as a substitute for the staked ETH.
rNETH
This token seems to be the reward earned for staking NETH in the restaking pool. Users would likely receive rNETH in addition to any staking rewards generated by their initial ETH stake.
EigenLayer
Restaking Pool: Integrates EigenLayer's native staking method, eliminating the need for Execution Layer permission.
NodeDAO 2.0 Applications:
Infrastructure Provider: Its security, regulatory compliance, and reliability make it a suitable underlying infrastructure for other protocols.
Cross-Chain Liquid Staking: Supports multiple L2 chains, offering users cross-chain liquid staking services.
NodeDAO 2.0's Technical Architecture:
Permissionless Operators: Lowers the barrier to entry, allowing more participants.
DVT Client: Delivers secure and reliable staking services.
nETH- liquid staking token created by NodeDAO protocol, which is minted when you stake ETH. It can earn revenue in DeFi and has the potential to increase in value over time. Layer 2 chains- such as Mint, Mantra, X1, Bear, or ZkLink, besides Ethereum's main chain (Layer 1) to generate DeFi rewards.The Process
nETH Holder: You hold nETH tokens, which represent your staked ETH in a staking pool.
Cross-Chain Transfer: You can transfer your nETH tokens to a compatible Layer 2 chain through cross-chain protocols like Mint, Mantra, X1, Bear, or ZkLink.
DeFi Platforms: Once your nETH tokens are on the Layer 2 chain, you can participate in various DeFi protocols available on that chain. These protocols might offer lending, borrowing, liquidity pools, or other DeFi services.
DeFi Rewards: By participating in these DeFi protocols, you can potentially earn rewards in the form of different cryptocurrencies. The specific rewards and their earning mechanisms will depend on the chosen DeFi platform and its functionalities.
NodeDAO 2.0 strives to provide users with a safer, more efficient, and more flexible ETH staking experience, fostering the growth of the ETH staking ecosystem.
To learn more about NodeDAO 2.0, please visit the following links:
Website: https://www.nodedao.com
Documentation: https://doc.nodedao.com
Twitter: https://twitter.com/Node_DAO
Individual User Pools:
Allow each user to create their own pool, enabling pledging only for themselves and those on their whitelist.
Remove the operator pool and aggregate it into one pool Cancel the unstake permission, anyone can unstake
Integration with EigenLayer.
1. Track rewards:
EigenLayer keeps track of the "points" earned by users who stake their tokens through RestakingPool. These points determine their share of the rewards.
2. Secure withdrawals and claims:
When a user wants to withdraw their staked tokens or claim their rewards, RestakingPool uses EigenLayer's "proof" system to ensure the request is valid and secure.
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