diff --git a/docs/learn/glossary.md b/docs/learn/glossary.md index e74b15a..5488098 100644 --- a/docs/learn/glossary.md +++ b/docs/learn/glossary.md @@ -13,12 +13,35 @@ The Beacon Chain is a brand-new, proof-of-stake blockchain that stores and manag ### Cluster -The group (usually 4, in compliance with [the fault tolerance rule is accepted](../../../stakers/validators/validator-onboarding)) of non-trusting operators that manage a set (one, or multiple) validator(s). Each operator in the cluster holds a share of the complete validator key, for more information, see [Shamir Secret Sharing](glossary.md#shamir-secret-sharing). +The group (usually 4, in compliance with [the fault tolerance rule is accepted](../../../stakers/validators/validator-onboarding)) of non-trusting operators that manage a set (one, or multiple) validator(s). Each operator in the cluster holds a share of the complete validator key, for more information, see [Shamir Secret Sharing](glossary.md#shamir-secret-sharing). + +Clusters pay fees in ETH, which is the standard payment method. Older clusters may still pay fees in SSV tokens, but can migrate to ETH-based payments via `migrateClusterToETH()`. ### Consensus Client Formerly known as an Eth2 client. Runs the Ethereum PoS (Proof-of-Stake) consensus layer, aka the Beacon Chain, checking the validity of transactions and new blocks. Examples of consensus clients include Prysm, Teku, Lighthouse, Nimbus, and Lodestar. +### Cooldown Period + +The mandatory 7-day waiting period between initiating SSV token unstaking and being able to withdraw your staked SSV. During this cooldown: +- Rewards stop accruing immediately +- Oracle voting weight remains active +- The process cannot be cancelled +- Unclaimed rewards can still be claimed + +The cooldown exists to maintain oracle voting stability and prepare for future governance mechanisms. + +### cSSV (Compound SSV) + +A non-rebasing ERC-20 token received when you stake SSV tokens. Key properties: + +- **Non-rebasing** - Your cSSV balance stays constant; it doesn't auto-increase +- **Transferable** - Can be transferred, traded, or used in DeFi protocols +- **Index-based rewards** - ETH rewards accrue separately via an increasing reward index +- **Initial 1:1 ratio** - When you stake SSV, you initially receive equal amounts of cSSV + +cSSV represents your staked position and determines your share of network fee rewards. When you unstake, cSSV is burned and you receive back your original SSV plus any unclaimed rewards. + ### Custodial Staking Centralized service that manages the entire ETH staking process on behalf of the user and retains custody over user private validator keys and withdrawal keys. Custodial staking risks include: severe slashing penalties, reduced overall rewards and increased likelihood of attack on user keys as they are held in a centralized fashion by the service. @@ -35,6 +58,12 @@ A cryptographic process to generate a shared public and private key set, calcula Distributed Validator Technology is another name for SSV (Secret Shared Validator). SSV can also be referred to as DVT because the validator is distributed over multiple non-trusting nodes. +### Effective Balance (EB) + +The active stake balance of a validator on the Beacon Chain, used to calculate rewards and voting weight. After Ethereum's Pectra upgrade, validators can have variable effective balances from 32 to 2048 ETH (previously fixed at 32 ETH). + +In SSV Network, effective balances are reported by oracles and used to calculate fair fee distribution through vUnits (virtual units). ETH clusters pay fees proportional to their validators' actual effective balances, while legacy SSV clusters use the traditional validator count method. + ### Epochs & Slots An epoch lasts approximately 6.4 minutes, and includes 32 slots. A slot lasts 12 seconds, during and is the time period in which a randomly selected validator proposes a block. @@ -93,6 +122,12 @@ Applying secure Multi-Party Computation (MPC) to secret sharing allows for KeySh A service that provides streamlined Ethereum validator set-up and management, but does not hold user private validator keys AND withdrawal keys. Allowing users to maximize staking returns, mitigate security risks and retain complete control over their assets. +### Oracle (SSV Network) + +In SSV Network, oracles are permissioned entities that report validator effective balances from the Beacon Chain to the smart contracts. In v1, there are 4 oracles that require 75% weight consensus to commit balance updates. + +Oracles are supported by SSV stakers, whose staked weight is automatically delegated across all oracles. This oracle system enables fair fee calculation for variable-balance validators post-Pectra. + ### Operator Individuals or institutions that provide the hardware infrastructure, run the SSV protocol, and manage validator KeyShares on behalf of users (stakers). Operators collect fees from stakers in SSV tokens in return for operating their validator(s) on ssv.network. Each operator is ranked on a scale of 0-100% by the DAO based on the overall quality of service they provide. @@ -128,19 +163,30 @@ The SSV Node software maintain peer-to-peer connections with other Nodes to hand ### SSV Token -ssv.network allows access to a decentralized ETH staking infrastructure with SSV token as the protocol’s native token. It has 3 main purposes: +ssv.network allows access to a decentralized ETH staking infrastructure with SSV token as the protocol's native token. It has 4 main purposes: +* **Staking** – Stake SSV to earn ETH rewards from network fees and support oracle infrastructure * **Governance** – Submitting votes and voting on DAO proposals -* **Fees** – Operators receive SSV tokens from Stakers for managing and operating validators on their behalf +* **Payments** – The network receives fees paid in ETH by clusters, and the accrued ETH is converted into value for SSV stakers through the staking mechanism * **Grants** – DAO funding for developers and contributors helping to grow the network +When you stake SSV, you receive cSSV tokens and earn real ETH yield from network activity, making SSV an "ETH Accrual Token." + +### SSV Staker + +An SSV token holder who stakes their SSV tokens to earn ETH rewards from network fees. By staking, they also contribute voting weight to the network's oracle system, which reports validator effective balances to the blockchain. + ### Staker -Services or individual ETH holders that wish to leverage SSV/DVT technology for optimal liveness, security and decentralization of their validator(s). Stakers put 32 ETH “at stake” for each validator they want to run. In the PoS consensus mechanism, validators secure the Ethereum blockchain and earn ETH rewards in return for doing so. +Services or individual ETH holders that wish to leverage SSV/DVT technology for optimal liveness, security and decentralization of their validator(s). Stakers put 32 ETH "at stake" for each validator they want to run. In the PoS consensus mechanism, validators secure the Ethereum blockchain and earn ETH rewards in return for doing so. + +### SSV Staking + +The process of staking SSV tokens to earn ETH rewards from network fees. SSV Staking also contributes to the network's oracle infrastructure by providing voting weight for effective balance reporting. ### Staking -Staking is the contributory action of running a node in a PoS consensus mechanism blockchain. One must ‘put at stake’ a certain amount of network tokens in order to participate in securing the blockchain by verifying and adding blocks. On Ethereum, the minimum threshold to participate as a validator is 32 ETH. Validators will earn ETH rewards for honestly attesting to and adding blocks. A validator risks decreasing their stake by participating in malicious behaviors or for time spent offline, disconnected from the network. +Staking is the contributory action of running a node in a PoS consensus mechanism blockchain. One must 'put at stake' a certain amount of network tokens in order to participate in securing the blockchain by verifying and adding blocks. On Ethereum, the minimum threshold to participate as a validator is 32 ETH. Validators will earn ETH rewards for honestly attesting to and adding blocks. A validator risks decreasing their stake by participating in malicious behaviors or for time spent offline, disconnected from the network. ### Total Value Locked (TVL) @@ -148,6 +194,23 @@ The total amount of ETH in USD (or other currency) that is “locked-up” by st ### Validator -A validator is responsible for confirming transactions and proposing new blocks on the Ethereum blockchain. In order to run a validator, one must put 32 ETH ‘at stake’, which is subject to increase (or decrease) as the validator performs its assigned duties. A validator is different from the comparable concept of a miner on the legacy Ethereum chain, as validators are called upon by the PoS protocol to propose and validate emerging blocks rather than compete for their generation. +A validator is responsible for confirming transactions and proposing new blocks on the Ethereum blockchain. In order to run a validator, one must put 32 ETH 'at stake', which is subject to increase (or decrease) as the validator performs its assigned duties. A validator is different from the comparable concept of a miner on the legacy Ethereum chain, as validators are called upon by the PoS protocol to propose and validate emerging blocks rather than compete for their generation. An SSV validator is one that is run on ssv.network and employs SSV technology to split the validator key into 4 KeyShares for the purposes of distributing the validator over multiple nodes for redundancy and fault-tolerance. + +Post-Pectra, validators can have variable effective balances from 32 to 2048 ETH. + +### vUnits (Virtual Units) + +A measurement unit used in ETH clusters to calculate fees proportional to validator effective balance. Calculated as: + +``` +vUnits = (effectiveBalance / 32 ETH) × 100 +``` + +Examples: +- 32 ETH validator = 100 vUnits +- 64 ETH validator = 200 vUnits +- 2048 ETH validator = 6400 vUnits + +This ensures that validators with higher effective balances pay proportionally higher fees, as they generate more rewards. Legacy SSV clusters do not use vUnits and treat all validators equally regardless of effective balance. diff --git a/docs/learn/introduction/ssv-token.md b/docs/learn/introduction/ssv-token.md index e4b74af..9128750 100644 --- a/docs/learn/introduction/ssv-token.md +++ b/docs/learn/introduction/ssv-token.md @@ -4,14 +4,28 @@ sidebar_position: 3 # SSV Token -Secret Shared Validator ($SSV) is the native token of [ssv.network](https://ssv.network/). +Secret Shared Validator ($SSV) is the native token of [ssv.network](https://ssv.network/). -$SSV's main use cases are payments and governance. +$SSV's main use cases are payments, staking, and governance. -* **Payments** - serve as a way for stakers to compensate operators for managing their validators -* **Governance** - a way to participate in ssv.network related decision-making and treasury allocations. +* **Payments** - Serve as a way for stakers to compensate operators for managing their validators (Note: this applies to legacy clusters that pay fees in SSV; newer clusters pay fees in ETH) +* **Staking** - Stake SSV tokens to earn ETH rewards from network fees and support oracle infrastructure +* **Governance** - A way to participate in ssv.network related decision-making and treasury allocations -$SSV is playing a pivotal role in the network’s ability to harness a community and motivate the right stakeholders to meaningfully contribute to the network. +$SSV is playing a pivotal role in the network's ability to harness a community and motivate the right stakeholders to meaningfully contribute to the network. + +## SSV as an ETH Accrual Token + +SSV Network has evolved to enable the SSV token to accrue real ETH revenue from network activity. Token holders can now stake their SSV to earn ETH rewards generated from network fees paid by clusters. Staked SSV also supports the network's oracle infrastructure by providing voting weight for effective balance reporting. + +**Key benefits:** +* Earn real ETH yield from actual network activity +* Support the network's oracle system for validator balance reporting +* Participate in securing decentralized oracle consensus + +As more validators use SSV Network, more ETH fees flow to SSV stakers, aligning token value with protocol growth. + +Learn more in the [SSV Staking Guide](/stakers/ssv-staking/). ### **Tokenomics** diff --git a/docs/learn/protocol-overview/tokenomics/README.md b/docs/learn/protocol-overview/tokenomics/README.md index 46c7af1..8ad3b24 100644 --- a/docs/learn/protocol-overview/tokenomics/README.md +++ b/docs/learn/protocol-overview/tokenomics/README.md @@ -5,10 +5,55 @@ sidebar_position: 1 # Tokenomics -The ssv.network utilizes its native SSV token to facilitate payments between stakers and SSV node operators to maintain their validators. Operators maintain validators by reaching a consensus with clusters of other operators to perform network duties on the beacon chain, thereby generating Ethereum staking rewards for stakers. +SSV Network has evolved to include both payment mechanisms and staking utilities, creating a comprehensive economic model that aligns network growth with token holder rewards. -Operators receive SSV payments and generate ETH rewards for stakers. Stakers pay SSV and receive generated ETH rewards in return. +## Network Payments: ETH Clusters +The network uses ETH-based payments for clusters and operators: -![Operators receive SSV payments and generate ETH rewards for stakers. Stakers pay SSV and receive generated ETH rewards in return.](/img/tokenomics-readme-1.avif) -*Operators receive SSV payments and generate ETH rewards for stakers. Stakers pay SSV and receive generated ETH rewards in return.* \ No newline at end of file +* **Clusters pay in ETH** - Deposit ETH to cover operator and network fees +* **Operators earn in ETH** - Receive ETH payments for managing validators +* **Network fees in ETH** - A portion of fees flows to the protocol + +This transition from SSV token payments to ETH enables the network to generate real ETH revenue that can be distributed to SSV stakers. + +### Legacy SSV Clusters + +Existing SSV token-based clusters continue to operate: +* Can migrate to ETH clusters via `migrateClusterToETH()` +* Operators can serve both ETH and SSV clusters during transition +* SSV token balance refunded upon migration + +## SSV as an ETH Accrual Token + +SSV token holders can stake their tokens to earn **real ETH yield** generated from network activity. This makes SSV an **ETH Accrual Token** where network fees flow directly to stakers. + +When clusters pay fees in ETH, a portion flows into the SSV Staking contract and is distributed proportionally to all stakers. Staked SSV also supports the network's oracle infrastructure by providing voting weight for effective balance reporting. + +As the network grows and more validators use SSV, more ETH fees are generated, increasing rewards for stakers. + +Learn more in the [SSV Staking Guide](/stakers/ssv-staking/). + +## Dual Utility Model + +SSV token serves multiple purposes in the ecosystem: + +| Utility | Description | Benefit | +|---------|-------------|---------| +| **Staking** | Stake SSV to earn ETH from network fees | Real yield for token holders | +| **Governance** | Vote on protocol decisions and treasury allocation | Decentralized control | +| **Oracle Support** | Staked SSV supports oracle consensus | Network security and accuracy | +| **Legacy Payments** | SSV tokens still used in legacy clusters | Backward compatibility | + +## Economic Sustainability + +The new economic model creates sustainable, circular value flow: + +1. **More ETH staked** → More validators using SSV +2. **More validators** → More ETH fees collected +3. **More fees** → Higher rewards for SSV stakers +4. **Higher rewards** → Increased demand for SSV token +5. **More SSV staked** → Stronger oracle infrastructure +6. **Stronger network** → Attracts more ETH validators + +This positive feedback loop ties SSV token value directly to real network usage and revenue. \ No newline at end of file diff --git a/docs/stakers/ssv-staking/README.md b/docs/stakers/ssv-staking/README.md new file mode 100644 index 0000000..3021337 --- /dev/null +++ b/docs/stakers/ssv-staking/README.md @@ -0,0 +1,133 @@ +--- +sidebar_position: 6 +--- + +# SSV Staking + +SSV Staking enables SSV token holders to earn real ETH yield by staking their tokens and supporting the network's oracle infrastructure. When you stake SSV, you receive cSSV (Compound SSV) tokens and earn ETH rewards generated from network fees. + +## Overview + +SSV Network has transitioned to a model where network fees are paid in ETH, creating a sustainable revenue stream that flows directly to SSV stakers. By staking your SSV tokens, you: + +- **Earn ETH rewards** - Receive a proportional share of network fees collected from clusters +- **Support the network** - Your staked weight contributes to oracle consensus for effective balance reporting +- **Maintain liquidity** - Receive transferable cSSV tokens that represent your staked position +- **Retain flexibility** - Claim rewards anytime and unstake with a 7-day cooldown period + + + +## How It Works + +### The Staking Flow + +``` +Stake SSV → Receive cSSV → Earn ETH → Claim Rewards → Unstake (7-day cooldown) +``` + +1. **Stake SSV tokens** - Deposit your SSV tokens into the staking contract +2. **Receive cSSV** - Get cSSV tokens representing your staked position (1:1 initially) +3. **Earn ETH** - Network fees from clusters flow to stakers proportionally +4. **Claim rewards** - Withdraw your accumulated ETH rewards anytime +5. **Unstake** - Initiate unstaking with a 7-day cooldown, then withdraw SSV + remaining rewards + +### ETH Reward Flow + +Network fees flow from clusters to SSV stakers through the following mechanism: + +``` +ETH Clusters pay fees + ↓ +Network fee portion + ↓ +SSV Staking contract + ↓ +Distributed to cSSV holders +``` + +When clusters pay operator fees and network fees in ETH, a portion of these fees flows into the SSV Staking contract. These ETH rewards are distributed proportionally to all cSSV holders based on their share of the total staked SSV. + + + +## cSSV Token Mechanics + +cSSV (Compound SSV) is a **non-rebasing**, **index-based** reward token that represents your staked SSV position. + +### Key Properties + +- **Non-rebasing**: Your cSSV balance stays constant - it doesn't automatically increase +- **Transferable**: cSSV is a standard ERC-20 token that can be transferred or used in DeFi +- **Separate rewards**: ETH rewards accrue separately and can be claimed independently +- **DeFi compatible**: Use cSSV in other protocols while earning staking rewards + +### How Rewards Work + +Unlike rebasing tokens where your balance increases, cSSV uses an **index-based reward model**: + +1. Your cSSV balance remains fixed +2. The reward index increases as network fees flow in +3. Your claimable ETH = (cSSV balance) × (reward index increase) +4. Claim rewards anytime without affecting your cSSV balance + +This model is based on Synthetix's StakingRewards.sol pattern and provides better composability with other DeFi protocols. + +### Example + +- You stake 1,000 SSV → Receive 1,000 cSSV +- Network earns 10 ETH in fees +- If you hold 1% of total cSSV, you can claim 0.1 ETH +- Your cSSV balance stays at 1,000 +- You can claim rewards multiple times as fees continue to flow in + + + +## Oracle Delegation (v1) + +When you stake SSV, your stake weight automatically contributes to the network's oracle system, which reports validator effective balances to the blockchain. + +### Automatic Delegation + +In v1, your staked weight is **automatically split equally** across all 4 permissioned oracles. This means: + +- No manual delegation required +- All stakers participate in oracle consensus +- 75% quorum required for balance commitments +- Your weight remains active during the unstaking cooldown period + +### Future Versions + +Future versions of SSV Staking will introduce: +- Variable number of oracles +- Staker-chosen delegation +- Performance-based oracle rewards +- Entry/exit queues + +## Unstaking Process + +Unstaking SSV involves a **7-day cooldown period** to maintain protocol stability: + +| Step | Duration | Details | +|------|----------|---------| +| **Initiate Unstake** | Immediate | Call unstake function, cooldown begins | +| **Cooldown Period** | 7 days | Your weight remains active for oracle voting | +| **Rewards Stop** | During cooldown | No new rewards accrue after initiating unstake | +| **Withdraw** | After cooldown | Receive SSV + any unclaimed ETH rewards | + +### Why a Cooldown Period? + +The 7-day cooldown serves several purposes: + +1. **Oracle stability** - Prevents rapid weight changes that could affect consensus +2. **Protocol security** - Maintains voting power during critical oracle reporting periods +3. **Future governance** - Prepares for future governance where staked SSV may serve as protocol backstop + +⚠️ **Important**: Rewards stop accruing immediately when you initiate unstaking, even though your oracle voting weight remains active during the cooldown. + +## Getting Started + +Ready to start staking? Follow these guides: + +- [Stake SSV](stake-ssv.md) - Step-by-step guide to stake your SSV tokens +- [Claim Rewards](claim-rewards.md) - How to claim your accumulated ETH rewards +- [Unstake SSV](unstake-ssv.md) - How to unstake your SSV tokens +- [FAQ](faq.md) - Frequently asked questions diff --git a/docs/stakers/ssv-staking/claim-rewards.md b/docs/stakers/ssv-staking/claim-rewards.md new file mode 100644 index 0000000..ce102a1 --- /dev/null +++ b/docs/stakers/ssv-staking/claim-rewards.md @@ -0,0 +1,107 @@ +--- +sidebar_position: 3 +--- + +# Claim Rewards + +Claim your accumulated ETH rewards from SSV staking anytime without unstaking. + +## Overview + +As an SSV staker, you earn ETH rewards proportional to your share of total staked SSV. These rewards: + +- Accrue continuously as clusters pay network fees +- Are tracked separately from your cSSV balance +- Can be claimed anytime without affecting your staking position +- Do not auto-compound (your cSSV balance stays constant) + +## Claiming Process + +### Step 1: Connect Wallet + +Navigate to the SSV Network webapp and connect your wallet holding cSSV tokens. + + + +### Step 2: View Unclaimed Rewards + +Go to the "Staking" section and locate the "Unclaimed Rewards" panel showing total ETH available, reward history, current APY, and last claim timestamp. + + + +### Step 3: Initiate Claim + +Click "Claim Rewards" and review the claim details (ETH amount, estimated gas fees, destination address). + + + +### Step 4: Confirm Transaction + +Your wallet will prompt for confirmation. Review and confirm the transaction, then wait for blockchain confirmation. + + + +### Step 5: Receive ETH + +Once confirmed, ETH is sent to your wallet. Your "Unclaimed Rewards" counter resets to 0, cSSV balance remains unchanged, and new rewards continue accruing immediately. + + + +## How Rewards Are Calculated + +``` +Your Rewards = (Your cSSV / Total cSSV) × Total Network Fees +``` + +**Example:** +- You hold 1,000 cSSV +- Total cSSV supply: 100,000 +- Network collects 10 ETH in fees +- Your share: (1,000 / 100,000) × 10 ETH = 0.1 ETH + +## Factors Affecting Rewards + +1. **Network usage** - More validators = more fees = more rewards +2. **Your stake size** - Larger cSSV balance = larger reward share +3. **Total staked SSV** - More competition = smaller individual share +4. **Network fee rate** - Set by the DAO +5. **Time elapsed** - Longer between claims = more accumulated + +## After Claiming + +- cSSV balance stays the same +- Oracle voting weight unchanged +- Continue earning new rewards immediately +- Can claim again when rewards accumulate + +## Manual Compounding + +cSSV does not auto-compound. To compound rewards: + +1. Claim ETH rewards +2. Swap ETH for SSV tokens +3. Stake the new SSV tokens +4. Receive additional cSSV +5. Earn rewards on larger cSSV balance + +⚠️ **Note**: Requires manual action and incurs transaction costs. + +## Rewards During Unstaking + +⚠️ **Critical**: Rewards stop accruing the MOMENT you initiate unstaking, not after the 7-day cooldown. + +| Stage | Rewards Accruing? | Can Claim? | +|-------|-------------------|------------| +| **Staked** | ✅ Yes | ✅ Yes | +| **Unstaking initiated** | ❌ No | ✅ Yes | +| **During 7-day cooldown** | ❌ No | ✅ Yes | +| **After cooldown** | ❌ No | ✅ During withdrawal | + +## Transfers and Rewards + +If you transfer cSSV tokens to another wallet: + +- **You keep**: All unclaimed ETH rewards accrued up to the transfer +- **Recipient gets**: The cSSV tokens +- **Recipient earns**: New rewards from the transfer moment onward +- **You can still**: Claim your historical rewards diff --git a/docs/stakers/ssv-staking/faq.md b/docs/stakers/ssv-staking/faq.md new file mode 100644 index 0000000..14951b0 --- /dev/null +++ b/docs/stakers/ssv-staking/faq.md @@ -0,0 +1,323 @@ +--- +sidebar_position: 5 +--- + +# SSV Staking FAQ + +Common questions about staking SSV tokens, earning ETH rewards, and the unstaking process. + +## General Staking + +### What is SSV Staking? + +SSV Staking allows SSV token holders to earn real ETH yield from network fees. When you stake SSV, you receive cSSV tokens and earn a proportional share of network fees paid by clusters. + +### How do I start staking? + +1. Connect your wallet to the SSV webapp +2. Navigate to the Staking section +3. Enter the amount of SSV to stake +4. Approve the token (first time only) +5. Confirm the staking transaction + +See the [Stake SSV](stake-ssv.md) guide for detailed steps. + +### What is cSSV? + +cSSV (Compound SSV) is a non-rebasing ERC-20 token you receive when staking SSV. Your cSSV balance stays constant while ETH rewards accrue separately. It's fully transferable and can be used in other DeFi protocols. + +### How much SSV should I stake? + +Consider: +- Keep some SSV unstaked for liquidity needs +- Factor in the 7-day unstaking cooldown +- Larger stakes earn more rewards +- You can always stake more later + +### Is there a minimum staking amount? + +Check the webapp for current minimum requirements. Minimums ensure gas costs are economical relative to potential rewards. + +### Can I stake from multiple wallets? + +Yes! Each wallet can stake independently. Rewards are tracked separately per wallet address. + +## Rewards + +### How are rewards calculated? + +``` +Your Rewards = (Your cSSV / Total cSSV) × Total Network Fees +``` + +Your share is proportional to your percentage of total staked SSV. + +### When do rewards start? + +Rewards begin accruing immediately after your staking transaction is confirmed. + +### What's the current APY? + +APY varies based on: +- Total ETH staked in the network (fee volume) +- Network fee rate set by the DAO +- Total SSV staked + +Check the staking dashboard for current estimates. + +### Do rewards auto-compound? + +No. cSSV is non-rebasing, so rewards don't automatically compound. To compound: +1. Claim ETH rewards +2. Swap ETH for SSV +3. Stake the new SSV +4. Receive additional cSSV + +### Do I need to claim rewards regularly? + +No, rewards can accumulate indefinitely. However, claiming periodically gives you access to ETH and reduces the amount at risk in the contract. + +### Can someone else claim my rewards? + +No. Only the wallet holding the cSSV tokens can claim the associated rewards. + +### Do rewards continue after I claim? + +Yes! Claiming doesn't affect your staking position. Your cSSV balance stays the same and you continue earning immediately. + +### What happens to unclaimed rewards if I never claim? + +They remain in the contract associated with your address indefinitely. You can claim them at any time. + +### Is there a minimum claim amount? + +The contract may have a minimum to prevent spam. Check the webapp for current requirements. + +### Can I claim rewards to a different address? + +Typically, rewards are sent to the wallet holding the cSSV tokens. Check contract documentation for specifics. + +## cSSV Tokens + +### Can I transfer cSSV? + +Yes, cSSV is a standard ERC-20 token and fully transferable. + +### What happens when I transfer cSSV? + +- You keep all unclaimed ETH rewards accrued up to the transfer +- The recipient gets the cSSV tokens +- The recipient starts earning new rewards from that point +- You can still claim your historical rewards + +### Can I use cSSV in other protocols? + +Yes! cSSV has full DeFi composability. You can trade it, use it as collateral, or hold it in any wallet. + +### What happens to cSSV when I unstake? + +The cSSV tokens are burned (permanently destroyed) when you complete the withdrawal. This reduces total cSSV supply. + +## Oracle Delegation + +### What is oracle delegation? + +Your staked SSV weight automatically supports the network's oracle system, which reports validator effective balances to the blockchain. + +### Do I need to choose an oracle? + +No. In v1, your stake weight is automatically split equally across all 4 permissioned oracles. No manual action required. + +### What is the 75% quorum? + +Oracles need 75% of total voting weight to agree before balance updates are accepted. This prevents any single oracle from manipulating data. + +### Will delegation change in the future? + +Yes. Future versions will allow stakers to choose which oracles to delegate to, with performance-based rewards. + +## Unstaking + +### Can I unstake anytime? + +Yes, but there's a mandatory 7-day cooldown period between initiating unstaking and being able to withdraw. + +### Why is there a 7-day cooldown? + +The cooldown maintains: +- Oracle voting stability (prevents rapid weight changes) +- Protocol security (protects against flash-stake attacks) +- Future governance compatibility (prepares for additional use cases) + +### When do rewards stop during unstaking? + +**Critical**: Rewards stop accruing the MOMENT you initiate unstaking, not after the 7-day cooldown. + +### Can I cancel unstaking? + +No. Once you initiate unstaking, the process is irreversible. + +### Can I speed up the cooldown? + +No. The 7-day cooldown is a protocol requirement and cannot be shortened. + +### What happens if I don't withdraw after cooldown ends? + +Nothing urgent. Your SSV remains claimable indefinitely with no deadline. + +### Can I partially unstake? + +Yes! You can unstake a portion of your cSSV while keeping the rest staked and earning rewards. + +### Can I claim rewards during cooldown? + +Yes, you can claim any ETH rewards that accrued before you initiated unstaking. + +### What happens to my oracle weight during cooldown? + +It remains active for the 7-day cooldown period for protocol stability, then is removed upon withdrawal. + +### Can I transfer cSSV during cooldown? + +No. Once unstaking is initiated, the cSSV is locked and cannot be transferred. + +### Can I add more stake during cooldown? + +No. You cannot stake additional SSV while you have an active unstaking cooldown in progress. + +### Do I pay gas twice for unstaking? + +Yes - once to initiate unstaking and once to complete withdrawal after the cooldown period. + +### Can I restake after unstaking? + +Yes! You can restake immediately after withdrawal with no waiting period. However, frequent unstaking and restaking incurs gas costs. + +## Troubleshooting + +### Transaction failed - what should I check? + +1. Sufficient token balance (SSV for staking, ETH for gas) +2. Token approval completed (for first-time staking) +3. Adequate gas limit +4. Contract not paused (rare) +5. No existing unstaking in progress (when trying to unstake) + +### cSSV not showing in wallet + +1. Manually add cSSV token using contract address +2. Check transaction confirmed on block explorer +3. Refresh wallet or try different interface +4. Contact support if issue persists + +### Rewards lower than expected + +- Verify your cSSV balance +- Check total staked SSV (more competition = smaller share) +- Review network usage (fewer validators = lower fees) +- Confirm time since last claim +- Check if DAO fee rate changed + +### Claimed ETH not appearing + +1. Verify transaction confirmed on block explorer +2. Check correct wallet address +3. Refresh wallet interface +4. Allow time for wallet to update +5. Contact support if issue persists + +### Lost wallet access during cooldown + +- Recover wallet using seed phrase +- Import to new wallet software +- Cooldown continues regardless +- Withdrawal still available after 7 days + +## Security + +### How do I verify I'm on the official webapp? + +- Check the URL matches official documentation +- Verify the contract address +- Bookmark the official site +- Never click links from unsolicited messages + +### What should I never share? + +- Private keys +- Seed phrases / recovery phrases +- Never share these with anyone, including "support" + +### Common scam warning signs + +- 🚫 Unsolicited DMs offering staking help +- 🚫 Websites with similar but different URLs +- 🚫 "Instant unstaking" or "cancel cooldown" offers (impossible) +- 🚫 Requests for private keys or seed phrases +- 🚫 Promises of guaranteed or unrealistic returns + +### What should I save for records? + +- Transaction hashes for all operations +- Staking amounts and dates +- Reward claim history +- Unstaking initiation and withdrawal dates + +## Economics + +### Where do staking rewards come from? + +Network fees paid by ETH clusters. A portion of fees flows to the SSV Staking contract and is distributed to cSSV holders. + +### What makes SSV an "ETH Accrual Token"? + +SSV accrues real ETH revenue from network activity. More validators using SSV = more ETH fees = higher rewards for stakers. + +### How does network growth affect rewards? + +More validators → More fees collected → Higher total rewards (but distributed among all stakers) + +### What if there are no validators using SSV? + +If no fees are collected, no rewards accrue. Staking rewards depend on actual network usage. + +## Technical + +### What token standard is cSSV? + +cSSV is a standard ERC-20 token with full compatibility. + +### Is cSSV rebasing? + +No. cSSV is non-rebasing. Your balance stays constant while rewards accrue separately via an index-based model. + +### What is the reward model based on? + +The reward mechanism is based on Synthetix's StakingRewards.sol pattern, providing better DeFi composability than rebasing tokens. + +### Can I interact with the contract directly? + +Yes, advanced users can interact with the smart contract directly. However, using the webapp is recommended for most users. + +## Support + +### Where can I get help? + +- Official SSV documentation +- SSV Discord community +- SSV support channels +- GitHub for technical issues + +### Who should I contact for issues? + +Only contact official SSV support channels. Ignore unsolicited DMs offering help - these are scams. + +## Learn More + +- [SSV Staking Overview](README.md) - Complete staking guide +- [Stake SSV](stake-ssv.md) - Step-by-step staking +- [Claim Rewards](claim-rewards.md) - Claiming process +- [Unstake SSV](unstake-ssv.md) - Unstaking guide +- [Tokenomics](../../learn/protocol-overview/tokenomics/README.md) - Economic model +- [Glossary](../../learn/glossary.md) - Key definitions + diff --git a/docs/stakers/ssv-staking/stake-ssv.md b/docs/stakers/ssv-staking/stake-ssv.md new file mode 100644 index 0000000..89f9e59 --- /dev/null +++ b/docs/stakers/ssv-staking/stake-ssv.md @@ -0,0 +1,114 @@ +--- +sidebar_position: 2 +--- + +# Stake SSV + +Stake SSV tokens to earn ETH rewards from network fees while supporting the network's oracle infrastructure. + +## Prerequisites + +- SSV tokens in your wallet +- Compatible Web3 wallet (MetaMask, WalletConnect, etc.) +- Sufficient ETH for gas fees +- Access to the SSV Network webapp + +## Staking Process + +### Step 1: Connect Your Wallet + +Navigate to the SSV Network webapp, click "Connect Wallet", and approve the connection. + + + +### Step 2: Navigate to Staking + +Go to the "Staking" section to see the staking dashboard with current statistics (total SSV staked, APY, your balance, rewards distributed). + + + +### Step 3: Enter Staking Amount + +Click "Stake SSV" and enter the amount you wish to stake. Review the details including cSSV you'll receive (1:1 ratio initially), estimated APY, and gas fees. + + + +### Step 4: Approve SSV Token (First Time Only) + +If this is your first time staking, approve the staking contract to access your SSV tokens. Click "Approve SSV" and confirm the transaction. + +⚠️ **Note**: You only need to do this once. + + + +### Step 5: Confirm Staking Transaction + +Click "Stake", review the transaction details in your wallet, and confirm. Wait for blockchain confirmation. + + + +### Step 6: Receive cSSV + +Once confirmed, you'll receive cSSV tokens in your wallet and start earning ETH rewards immediately. + + + +## What Happens When You Stake? + +1. **SSV is locked** in the staking contract +2. **You receive cSSV** at a 1:1 ratio initially +3. **Oracle weight** is automatically delegated equally across all 4 oracles +4. **Rewards start accruing** immediately based on network fees +5. **cSSV stays constant** - your balance doesn't auto-compound + +## Understanding Your Position + +After staking, monitor your position on the dashboard: + +- **Staked SSV**: Total SSV tokens staked +- **cSSV Balance**: Your compound SSV token balance +- **Unclaimed Rewards**: ETH rewards available to claim +- **Oracle Weight**: Your contribution to oracle consensus +- **Estimated APY**: Current annual percentage yield + +## Using cSSV Tokens + +cSSV is a standard ERC-20 token with full DeFi composability: + +- ✅ Transfer to another wallet +- ✅ Trade on DEXs (if liquidity exists) +- ✅ Use as collateral in other protocols +- ✅ Hold in cold storage + +**Important**: +- Transferring cSSV transfers the staked position +- Unclaimed ETH rewards stay with the original holder +- The recipient starts earning new rewards from the transfer +- Only the cSSV holder can unstake + +## Adding More Stake + +You can stake additional SSV anytime. Return to the dashboard, click "Stake SSV" again, enter the amount, and confirm (no need to approve again). + +## Transaction Costs + +- **First-time staking**: 2 transactions (Approve + Stake) +- **Additional staking**: 1 transaction (Stake only) +- **Gas costs vary**: Based on network congestion + +## Next Steps + +After staking: + +1. **Monitor your position** - Check the dashboard regularly +2. **Claim rewards** - See [Claim Rewards](claim-rewards.md) when ETH accumulates +3. **Track performance** - Review APY and total rewards earned +4. **Consider adding more** - Stake additional SSV to increase rewards + +## Learn More + +- [SSV Staking Overview](README.md) - Full staking mechanism +- [Claim Rewards](claim-rewards.md) - How to claim ETH rewards +- [Unstake SSV](unstake-ssv.md) - Unstaking process +- [FAQ](faq.md) - Common questions and answers +- [Glossary](../../learn/glossary.md) - Key terms and definitions diff --git a/docs/stakers/ssv-staking/unstake-ssv.md b/docs/stakers/ssv-staking/unstake-ssv.md new file mode 100644 index 0000000..a8dbfb9 --- /dev/null +++ b/docs/stakers/ssv-staking/unstake-ssv.md @@ -0,0 +1,170 @@ +--- +sidebar_position: 4 +--- + +# Unstake SSV + +Unstake your SSV tokens with a mandatory 7-day cooldown period. + +## Overview + +Unstaking SSV withdraws your staked tokens from the staking contract. The process includes: + +- **7-day cooldown period** - Required waiting time after initiating +- **Reward cessation** - Rewards stop accruing immediately +- **Oracle weight retention** - Voting weight remains active during cooldown +- **Full withdrawal** - Receive SSV + any unclaimed ETH after cooldown + +⚠️ **Important**: This process is irreversible. Once initiated, you cannot cancel and rewards stop immediately. + +## Before You Unstake + +### Key Considerations + +| Aspect | Details | +|--------|---------| +| **Cooldown period** | 7 days from initiation to withdrawal | +| **Rewards** | Stop accruing immediately | +| **Oracle weight** | Remains active for voting | +| **Unclaimed ETH** | Should be claimed before or during unstaking | +| **cSSV tokens** | Will be burned upon withdrawal | +| **Irreversible** | Cannot cancel once initiated | + +## Unstaking Process + +### Step 1: Connect Your Wallet + +Navigate to the SSV Network webapp, connect your wallet holding cSSV tokens, and ensure sufficient ETH for gas fees. + + + +### Step 2: Navigate to Unstaking + +Go to the "Staking" section and locate your staking position details (staked SSV, cSSV balance, unclaimed rewards, APY). + + + +### Step 3: Review and Claim Rewards + +Check if you have unclaimed ETH rewards. **Strongly recommended**: Claim them now before proceeding. + +### Step 4: Initiate Unstaking + +Click "Unstake SSV" and choose: +- **Full unstake** (all cSSV) +- **Partial unstake** (specify amount) + +Review the details: SSV amount, cSSV to burn, cooldown end date, and gas fees. + + + +### Step 5: Confirm Transaction + +Read and acknowledge the warnings, click "Confirm Unstake", approve in your wallet, and wait for blockchain confirmation. + + + +### Step 6: Cooldown Period (7 Days) + +Once confirmed: +- Cooldown timer starts +- Rewards stop accruing immediately +- Oracle voting weight remains active +- "Unstaking" status shows on dashboard +- Estimated withdrawal date displayed + + + +### Step 7: Wait for Cooldown + +During the 7-day cooldown: + +- ⏱️ Monitor cooldown timer +- ❌ No new rewards accrue +- ✅ Can still claim previously accumulated rewards +- ✅ Oracle weight still active +- ❌ Cannot cancel unstaking +- ❌ Cannot stake additional SSV + + + +### Step 8: Complete Withdrawal + +After cooldown ends, return to the dashboard, click "Withdraw", review details, and confirm the transaction. + + + +### Step 9: Receive Your SSV + +Once confirmed: +- SSV tokens returned to your wallet +- Any unclaimed ETH rewards sent +- cSSV tokens burned from circulation +- Staking position closed +- Oracle weight removed + + + +## Why 7-Day Cooldown? + +The cooldown period serves three purposes: + +1. **Oracle Stability** - Prevents rapid voting weight changes and maintains consensus reliability +2. **Protocol Security** - Protects against flash-stake attacks and manipulation +3. **Future Governance** - Prepares for governance mechanisms and protocol backstop functionality + +## What Happens During Cooldown + +| Aspect | Status | Details | +|--------|--------|---------| +| **Rewards** | ❌ Stopped | No new ETH rewards accrue | +| **Oracle weight** | ✅ Active | Voting power still counts | +| **Claim rewards** | ✅ Allowed | Can claim accumulated ETH | +| **Transfer cSSV** | ❌ Not allowed | Tokens locked for unstaking | +| **Cancel unstaking** | ❌ Not allowed | Process is irreversible | +| **Add more stake** | ❌ Not allowed | Wait until withdrawal complete | + +## Partial Unstaking + +You can unstake a portion of your cSSV while keeping the rest staked: + +1. Choose partial unstake option +2. Specify amount of cSSV to unstake +3. Remaining cSSV continues earning rewards +4. Only unstaked portion goes through cooldown +5. Can unstake more later if desired + +**Example:** +- You have 1,000 cSSV staked +- Unstake 400 cSSV +- During cooldown: 400 cSSV earns nothing, 600 cSSV still earning +- After cooldown: Withdraw 400 SSV, keep 600 SSV staked + +## Critical: When Rewards Stop + +``` +[Staking] → [Initiate Unstake] → [7-Day Cooldown] → [Withdraw] + ✅ Earning ❌ STOPS HERE ❌ No rewards ❌ No rewards +``` + +⚠️ **Most Important**: Rewards stop the moment you initiate unstaking, NOT after the cooldown period. + +To maximize rewards: +- Let rewards accumulate before unstaking +- Claim all unclaimed ETH +- Consider timing (don't unstake before large fee distributions) +- Remember you lose 7 days of potential rewards + +## After Withdrawal + +Once complete: +- Original SSV tokens returned +- All claimed ETH rewards (if claimed) +- cSSV tokens burned (removed from circulation) +- Oracle weight removed +- Staking position closed + +## Restaking + +You can restake immediately after withdrawal with no waiting period. However, frequent unstaking and restaking incurs gas costs. +