Ethereum SAAS pledge data record for one week

Author: darkforest; Source: mirror

One and a half months ago, I pledged a batch of Ethereum through the SAAS method. After a long 36-day wait, it has been online for a week. I will show you the specific data. You can compare it with the LSD method to give everyone an idea of the Ethereum POS pledge. A clearer understanding.

I myself staking through two different staking service providers to diversify risks, namely P2Pvalidator and Allnodes. Judging from the operation of the nodes this week, there is basically not much difference in which operator to use.

Each staking service provider has its own staking monitoring dashboard, but personally I think the best one is the third-party beaconcha.in. Each data is more detailed and the statistical charts are more intuitive.

P2Pvalidator’s Kanban content is very concise, but the amount of information is much less than beaconcha.in, and the graphics are not good enough.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-807fad5534-dd1a6f-6d2ef1)

Regarding P2P fees, there are still many charging methods adopted by pledge service providers. They all charge 10% of your total income from your executive layer rewards. I was always confused about how he charged them. They gave a very detailed answer, and they also wrote a special article to explain this issue, which is very clear.

I must mention here that the customer service system of P2P is very good. I asked a lot of questions about the storage method of the validator key before staking, and the customer service will connect with specialized technical personnel to give me timely answers.

Regarding the collection of fees, P2P will have an oracle that specifically counts the consensus layer income you receive every day. When one day you propose a block and receive an execution layer reward, P2P will calculate 10% of all income. This time, the execution layer rewards will be deducted. This method is more precise than some other staking service providers who adopt a fixed ratio, and will not cause the problem of hidden overcharging.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-c36c8ef975-dd1a6f-6d2ef1)

The Allnodes signboard is relatively simple. It is clear at a glance how much Ether has been earned and how much USD it is, because ALLNODES charges are also prepaid in US dollars. This actually avoids the trouble of P2P charges mentioned above. You have all the pledge income in your hands. 10 dollars per node per month is very cheap at the current price of Ethereum, not to mention that when the next round of bull market has tens of thousands of dollars in ether, this fee will seem like a drop in the bucket.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-df7aff2654-dd1a6f-6d2ef1)

Basically, the staking income of about 2 days can cover the cost of one month, and the income of the remaining 28 days is your own. It is more intuitive and clear from beaconcha.in. A 32ETH node will receive a fixed income of about 0.00245ETH every day. This income comes from the reward of the consensus layer. According to my own calculation, the annualized APR is about 2.7%. Basically, no matter which staking service provider, the income of the consensus layer is similar, and this APR is significantly lower than the income of each LSD project. The difference lies in the execution layer reward. He is the only person selected to become a proposer. The validator will get the reward, and the reward has a certain probability.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-de293f9706-dd1a6f-6d2ef1)

Before staking, I didn’t have a very intuitive understanding of these two rewards. However, on the fourth day of staking, I had a node that was super lucky to PROPOSAL a block. This was equivalent to mining in the era of Bitcoin mining machines. After reaching a block, I received a reward of 50/25 Bitcoins. However, the Ethereum POS proposal block is a committee. The number of members is determined based on the algorithm. As the number of nodes participating in the pledge increases, the number of nodes that can win the lottery The odds are also slowly declining.

But once you win the lottery, the benefits are still considerable. Just find a picture and compare it.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-4b2db2a907-dd1a6f-6d2ef1)

The previous daily income of 0.00245 ETH was no longer worth mentioning in front of this proposal. The income of the day directly reached 0.0765 ETH, which is 31 times the income of the consensus layer in ordinary days. You must know that the income of the execution layer is closely related to the activities of the Ethereum network. In the bull market with gas fees of hundreds, priority fees and MEV income will increase explosively. At that time, the income will really explode.

After this proposal’s executive reward, the annualized APR reached 14.72% on the 7th.

There is also a LUCK value, which was more than 2000% on the day when it exploded. The specific algorithm is not clear, so I can only know that it is very lucky.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-c21e0e4a49-dd1a6f-6d2ef1)

Through the above data, we can also understand the difference between SAAS staking and LSD staking. No matter which method, there is almost no difference in the consensus layer income of the pledge. The only difference lies in when the node you pledged can receive it. One-time execution layer reward.

LSD is a bit like eating from a big pot. For example, among all the nodes run by lido, only a small number of lucky people submitted blocks and received execution layer rewards. These lucky people cannot be happy because they have to share with all other stakers “Common prosperity”. When the pool is large enough, everyone’s income will be smoother and more predictable.

On the contrary, in the SAAS staking method, you are actually running a staking node. When you can be selected as a proposer is a matter of character. The number of times selected as a proposer in a year follows a normal distribution. The difference between the luckiest validator and the unluckiest validator in obtaining execution layer rewards will be relatively large. The luckiest validator can submit 39 blocks. , the most unfortunate validator can only submit 15, which is reflected in the APR difference between different staking protocols over a period of time.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-2e67606034-dd1a6f-6d2ef1)

The above data is the probability distribution above the level of 100,000 validators. In fact, the number of active validators has reached more than 760,000, and the number of blocks that can be submitted each year will also be greatly reduced. However, this distribution The shape should be similar.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-f04b71dc5b-dd1a6f-6d2ef1)

Earnings withdrawal

Each pledge node will distribute the excess 32 ETH balance to your designated withdrawal address every six days. The automatic withdrawal of your consensus layer income is not an on-chain activity and does not consume gas fees. It is a fully automated mapping from the beacon chain to the Ethereum main network. You can’t find it on etherscan, you can only see it on beaconcha.in. The execution layer income will be sent to you by the builder or MEV-BOOST that packaged your block, and you can see related activities in etherscan.

! [SAAS] (https://img-cdn.gateio.im/resized-social/moments-40baef27dd-54aaf5a12d-dd1a6f-6d2ef1)

In my opinion, this is simply an unattended machine that prints money tirelessly. When you have such a machine and have the technology and ability to protect this asset, the passive income it generates can satisfy When your daily expenses are reduced, then it can be said that you have truly achieved financial freedom.

In my opinion, this is a new form of wealth freedom based on the chain and endorsed by mathematics and algorithms.