V3

Summary

In this project we are providing an institutional staking service also called the “one-click go” service. We are providing solutions right from ETH staking to becoming a validator and running nodes too, also providing and managing all infrastructure with automation.

In our services, we built a web application. This web application manages all Services like managing a fund, setup and registering SSV operator to SSV, Running an Ethereum validator, monitor all operator data and validator data and rewards.

We can say that majorly these three areas are what we are working on.

1.) Ethereum Validator

Setup of ETH-1 node with automation
Setup of ETH-2 node with automation
Generate a validator key and store it safely with one click.
Staking as a validator.

2.) Running Validator through SSV operator

Setup of 4 operator nodes with automation
Register operator to SSV with private operator functionality
Distribute validator Keys
Register Validator on SSV
Remove Validator Functionality

3.) Managing Validator and SSV operator data in a single Dashboard

operator performance, Deposit, Withdrawal, No of Validator, No of the operator, their status , Balance, etc.

We provide all these facilities on our Coindelta’s Staking Platform also we are using AWS services to store user data and Validator Keys securely.

What's new in V3?

Cluster functionality

A group of four operators and multiple validators is called a cluster in SSV.In a V3 user can create multiple clusters and in every cluster, the user can select no of 4 operators and add multiple validators.

Gas Cost optimization

In V3, the gas cost of on-chain validator registration reduces by 60 - 80%.

Private Operator functionality

In V3, SSV introduces a Private operator feature called "Operators" that can provide their services to authorized validators.

For Example:- If a user wants to run validators with their own four operators without paying operator fees so he can register four operators to SSV and set their fees to zero and use private operator functionality so another user cannot add that four operators which are private.

What we have implemented after V3 in our Web application?

We completely migrated our Application to V3, Now it is compatible with SSV V3. Here are some features that we have added to CoinDelta Application.

Cluster Dashboard Section

Operator info card with Operator Name, ID, Performance, and Status.
Cluster Balance card with Balance, EST. Operational Runway.
Deposit Functionality with Approve function and Updated EST O.R with the new balance.

Operator Section.

Private Operator functionality.

Validator Section.

Added functionality to Deposit SSV token the total liquidation threshold according to the number of validators while Registering Validator to the SSV network.
Added SSV token Funding feature for Register Validator in an Existing cluster also user can see EST Remaining Days according to fund.

Userflow of Coindelta staking service.

There are

How to use SSV coindelta staking service.

Steps:-

Use this URL https://www.beta-v3-ssv.coindelta.io/ to login into the SSV Coindelta webpage.

After login user needs to connect the metamask wallet to use the ssv coindelta’s service. so click on the ‘Connect Wallet’ button.

The user is advised to use only one wallet address because this wallet address will be used throughout the application for registering the operators, and validators and performing all transactions, it cannot be changed.

After Connecting to the metamask wallet user needs to register their operator to ssv, and for that click on "Operator" on the sidebar

On the operator page user registers 4 operators one by one.
For that click on the register button and then submit and confirm transaction through wallet.
Repeat all these steps to register for the remaining 3 operators.

After registering the operator next step is to privatize the operator for that user needs to whitelist all 4 operators.

for whitelisting operators click the whitelist button and confirm the transaction on the metamask wallet.

After completing all operators registration, operator page will look like below.

After Completing all operator registration and whitelisting the process, the operator page will look like the above. It shows all details related to an operator like the operator's Name, ID, Status, Validator, and Actions.

The next part is "Create Fund"

After registering and whitelisting the operator, the next step is creating a fund.
Now, the user needs to click the Create Fund button to create a fund, enter the amount, and add it.

Fund will be active after generating a validator key using that fund.

Now the next part is for Validator

In this part, the user can create validator keys, Deposit 32 ETH into the validator, and Register it with SSV.

For that click on Validator on the sidebar.
Then click on Generate Validators key and fill in details like selecting the fund which we had generated in step 4, the no. of validator, and the Password.
For the password, SSV Coindelta application provides strong password suggestions.

Generated keys will look like this in the Validator section…

Now Click on the Proceed button...

After Proceeding User needs to Click on Confirm deposit button and Complete the transaction for 32ETH through the wallet.

After a successful transaction, the status is updated to "Deposited". now the next step is to register this validator to SSV, for that click on the Register button.

The next step is the user needs to select the validator funding period and we are providing the user to select 1 month,3 months, and Custom period.

After choosing the validator funding period Click on the Next button...

Fee changes according to the number of days selected in the Custom Period field.

User needs to approve network fees and set limits to require the amount they want to spend on the SSV network.

For the security of the user's SSV tokens, SSV is providing approve functionality, which uses to set a spending limit for the user's SSV token balance. For example, if the user approves a limit of 5 SSV Tokens so it cannot be consumed more than 5 SSV tokens from the user's balance.

Now click on "Run Validator" and confirm the transaction through the wallet and after a successful transaction, your validator successfully registered to SSV.

Now, the user can see all the operator's and validator's data in Dashboard.

In the Dashboard, you can see Cluster balance, Operator performance, No of Validators, Validator Balance, and No of Operators.

Steps for Updating operator name.

Go to the operator section and click on the "Settings" button

Now, click on the edit button, enter a name in the field, and click on "Change Name".

After confirming the signature on the wallet operator's name will be updated.

Steps for Removing validator.

Go to "Dashboard" and click on the remove validator icon on validator table.
Now tick on I understand then Remove validator and complete the transaction through your wallet.

Done, You have successfully removed your validator from the SSV network.

Note:-

Removing your validator will cause your operator to stop managing it on your behalf, which will result in its inactivation (penalties on the beacon chain).
Also, note that this action only applies to its removal from SSV network and does not exist your validator from the beacon chain.

Know more about SSV Network Click here...