Hi! We wanted to officially introduce ourselves and apply to become one of xDai’s validators.
Project name: stakefish
Project location: Global team covering 13 different time zones (legal presence in Malta)
Project inception year: 2018
Team size: 29
Website: https://stake.fish/ (available in 16 different languages)
- Twitter: https://twitter.com/stakefish
- Telegram: Telegram: Contact @stakefish
- Youtube: https://www.youtube.com/channel/UCZvT8cGpFjnZUB9V-WzxPHg
- Medium: stakefish – Medium
Networks supported: Ethereum 2.0, Chainlink, The Graph, Polygon (launching by end of April), Polkadot, Cosmos, Tezos, NEAR (for the full list, please visit stake.fish)
Total assets staked: Over $1 billion staked across networks
Motivation: Our goal is to build a resilient infrastructure layer for blockchain projects of the future. With this goal in mind, we have been supporting critical Proof of Stake protocols and middleware projects from 2018 when many were in bootstrapping phases.
It is no secret that Ethereum has faced challenges with high gas prices, effectively pricing out many retail users. This is a good problem to have as it shows strong demand for block space on Ethereum! While scalability will naturally be solved as Ethereum 2.0 rolls out, we need other options today. As an Ethereum-friendly sidechain that has been honest with the ecosystem and developer focused, we believe xDai has more than proven its place in Ethereum’s ecosystem. The growing list of projects deployed on xDai attests to this: Gnosis, Perpetual Protocol, Colony, POAP, Dark Forest, etc.
While staking is our main source of revenue, our foremost duty and responsibility in this ecosystem is to provide a resilient infrastructure for critical networks and protocols. xDai has been at the forefront of Ethereum scalability and we want to contribute by helping maintain its network as a validator.
Security setup: We make use of multiple cloud providers across different regions. We take multiple factors into account when deciding the providers and regions, including connectivity with the rest of the network and assisting in decentralizing the validating infrastructure across the entire network.
We have 24/7 monitoring across all layers of our infrastructure. We have alerts set up for various metrics when thresholds are triggered. We also have an incident response plan, and disaster recovery plan to handle any emergency scenarios, such as chain halts and emergency upgrades.
Contributions to the ecosystem:
- Promoting decentralization and open source
- Community building
Our expected contributions:
We plan to create videos, run memes, and educate community members on how to stake on xDai.
We run one of the largest validator operations on Ethereum 2.0. We plan to branch out to other sidechains and Layer 2s. Running bridges for xDai will be relatively a trivial task for us.
We can provide advisory on best practices we’ve seen from other networks both on validator management and governance.
We can help attract more validators to xDai.
We are requesting 20,000 STAKE from the ecosystem fund to bootstrap our validator node in exchange for the contributions we will bring to xDai and the POSDAO staking environment. This amount will stay within POSDAO and we will not withdraw it (nor have the ability to withdraw with current safeguards in place).
If we decide to leave the network, we will find a suitable validator to serve as a replacement and transfer to that entity, or shutdown our node without withdrawing the initial 20K STAKE allotment from the fund. This amount will remain within the ecosystem
We would love to get guidance on how we could work with xDai and its community to be onboarded as a validator. We are happy to answer any questions!