Stake Together is a protocol that facilitates community participation in Ethereum staking through pooling of resources. The protocol uses a staking pool mechanism that allows for liquidity staking, enabling users to participate in staking without having to meet the 32 ETH collateral lockup requirement.
The key feature of Stake Together is CETH, a liquid staking derivative that is pegged 1:1 to Ethereum. CETH allows community members to access their funds while their stake is still locked up, enabling them to store, transfer, spend, trade, and leverage their funds through other DeFi applications. This is a significant advantage compared to traditional staking mechanisms that lock up funds for extended periods.
Our focus is on staking communities. With this protocol, communities can pool their assets together to participate in staking and earn rewards.
The Stake Together protocol enables communities to participate in Ethereum staking using a decentralized and distributed approach. The architecture overview diagram displays the components of the technology, including the staking pool mechanism, liquidity staking feature, and CETH liquid staking derivative. The operational lifecycle includes pool initialization, operation, and maintenance stages. During the pool initialization stage, the protocol uses distributed key generation (DKG) to generate a public key for the staking pool, which splits the private key among multiple operators. DKG is a type of threshold signature scheme that uses secure multi-party computation (MPC) to generate a public key for a validator.
One key feature of the Stake Together protocol is its integration with the Ethereum deposit contract and the SSV.Network contract. The protocol uses the SSV DVT technology as infrastructure, which allows for the efficient and secure management of staking pools. The SSV DVT technology leverages a network of SSV operators to manage validator nodes, ensuring the security and reliability of the staking process. By integrating with the Ethereum deposit contract, the Stake Together protocol provides a seamless way for users to participate in Ethereum staking and earn rewards.
In summary, the Stake Together protocol provides a simple and secure way for communities to participate in Ethereum staking, with enhanced security and trust through the use of DKG and SSV DVT technology. By leveraging the power of the SSV.Network and DVT technology, the protocol can provide a robust and reliable staking infrastructure that benefits both users and the Ethereum network.