In advance of the upcoming launch of StakeWise 2.0 (which includes tokenized staking), we want to inform the community about the results of the first beta and the process of migration to the new one.
Conclusion of the current beta
The version of StakeWise currently running in public beta is missing new features and we will soon be phasing it out. It served its purpose well by giving us exposure to future stakers and allowing us to test our ability to run thousands of validators and debug on the go. We were testing in an environment of constantly changing client versions, long periods of non-participation, client bugs and even DDoS attempts on our system. Here is a quick run-down of the challenges we encountered and how we dealt with them:
Prysm Client bug #1 (Medalla launch): our response https://stakewise.medium.com/lessons-learned-from-the-launch-of-medalla-70d89ba3994c
Prysm Client bug #2 (external dependency): our coverage https://discordapp.com/channels/613394789882134529/731198985460514886/746696987466006628
We will be finishing this beta with over 3,900 active and pending validators, 122k ETH staked, and as the 2nd largest network participant in Medalla.
Our focus is now shifting to the roll-out of the new beta, which will introduce tokenized staking, billing for non-custodial validators and improved infrastructure. We will be concentrating all of our attention on polishing the new system, which means that we will be spending less time on maintaining stable performance of the legacy beta. Consequently, the performance of the legacy beta in its final days is likely to be affected.
The new, improved version of StakeWise setup takes us one step closer to mainnet. We want phase 0 to go as smoothly as possible, and this makes rehearsal of launching from scratch all the more important. Internally, we tested the new setup in Zinken’s Genesis, and it went butter-smooth! Now we want to test the system at scale. Users of the new beta will be able to create new validators to simulate the growth of deposits from 0 to 1,000s in phase 0. Note that we will not migrate the existing validators to the new beta and instead plan to exit them for good once the new beta is rolled out.
We would like to thank every single one of over 300 users that participated in our first beta for testing the StakeWise platform and providing us with invaluable feedback. It was a wild ride, but we rode it in stride and are looking forward to the next chapter — the launch of StakeWise 2.0 with tokenized staking and even more stable performance.
And with that, we are happy to say that you can expect the launch of StakeWise 2.0 sometime next week!
Stay tuned for our updates in Discord, Telegram and Twitter in the coming days!