We are thrilled to share the latest update from the EigenLayer ecosystem – a highly anticipated upgrade that promises to provide stakers with greater control and flexibility over their staked assets. Effective today, April 9th, the EigenLayer mainnet launch unlocks a suite of new features and functionalities for both stakers and node operators.
EigenLayer M2 builds upon the existing M1 contracts that have been operational on the Ethereum mainnet. This major upgrade introduces a crucial new capability: the ability for users to delegate their restaked Ethereum (ETH) or liquid staking tokens (LSTs) to the node operator of their choice.
And as one of the leading node operators, we’re thrilled to announce that users can now delegate their restaked Ethereum (ETH) and Liquid Staking Tokens (LSTs) to Chorus One!
Delegating to Chorus One is a seamless and secure experience. Users can easily delegate to Chorus one via any of the following options:
OPUS Pool is designed to make the restaking process effortless for our users. Here's a quick guide on how to delegate your assets through the OPUS Pool:
You can find the detailed, step-by-step guide for OPUS Pool here: https://chorus.one/articles/your-guide-to-opus-pool-stake-mint-oseth-and-restake-with-eigenlayer
Note: Restaking LSTs with EigenLayer is currently on hold and will resume once the deposit cap is raised. In the meantime, you are welcome to use OPUS Pool to stake any amount of ETH, mint osETH, and delegate your existing restaked LSTs.
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Alternatively, you can directly delegate your assets to Chorus One via the EigenLayer dashboard. Here's how it works:
By choosing either OPUS Pool or Chorus One’s operator profile on the EigenLayer dashboard, you can seamlessly delegate your assets to Chorus One and benefit from our tailored approach, enhanced MEV rewards, and top-tier security measures.
Please Note: The upgrade doesn't yet allow Operators to earn yield for services provided to an AVS or to be at risk of slashing for Operator misbehaviors.
At the heart of the M2 upgrade is the introduction of delegation capabilities, empowering stakers to choose the node operator they wish to delegate their assets to. Specifically, the M2 contracts will enable users to deposit their Ethereum (ETH) or liquid staking tokens (LSTs) into EigenLayer through the StrategyManager (for LSTs) or the EigenPodManager (for beacon chain ETH). Additionally, stakers will now be able to withdraw their assets via the DelegationManager, regardless of the asset type.
For node operators, the M2 upgrade introduces the ability to opt-in to providing services for Actively Validator Services (AVSs) using the respective AVS's middleware contracts. However, the current iteration of the M2 contracts does not yet enable node operators to earn yield for the services they provide to AVSs or expose them to the risk of slashing for any potential misbehaviors.
In contrast to node operators who may prioritize onboarding as many AVSs as possible, Chorus One has adopted a more strategic and selective approach. Security is of paramount importance to us, and we meticulously vet each AVS before providing infrastructure support.
Our dedicated team thoroughly assesses the technical architecture and risk profile of every AVS under consideration. We leave no stone unturned, carefully evaluating factors such as the robustness of their systems, the soundness of their security protocols, and their overall risk appetite. Only those AVSs that meet our stringent criteria are granted access to our staking infrastructure.
This selective approach ensures that our users can have the utmost confidence in the management of their assets. By entrusting their stakes to Chorus One, our customers can rest assured that their funds are being handled with the highest levels of diligence and care, safeguarded by our rigorous vetting process.
To learn more about Chorus One's tailored approach to restaking, we encourage you to reach out to our team at staking@chorus.one. Our team will be happy to answer any questions you might have.
Ready to get started? Visit OPUS Pool and follow our detailed guide to easily delegate your assets to Chorus One.
The technical details of the M2 upgrade can be found in the official EigenLayer documentation, available at https://github.com/Layr-Labs/eigenlayer-contracts/tree/dev/docs. As the EigenLayer ecosystem continues to evolve, this latest milestone towards Mainnet promises to empower stakers and node operators alike, ushering in a new era of flexibility and control.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
Chorus One is proud to be a validator on Berachain, a high-performance modular EVM compatible blockchain powered by Proof-of-Liquidity. In this article, we provide an overview of everything you need to know about Berachain, how it works and use cases.
Berachain, currently in Testnet phase, is changing how DeFi users access liquidity, supercharging applications, and providing flexibility and adaptability to the thriving digital economy. It combines the capabilities of the Cosmos SDK and introduces its novel 'Proof of Liquidity' as well as their new modular implementation of the EVM called Polaris. This not only tackles current obstacles but also paves the way for fresh avenues of creativity and advancement within the DeFi industry.
Berachain is a DeFi-focused Layer 1 blockchain running on Proof of Liquidity consensus built on the Cosmos SDK. Berachain emphasizes modularity in its design approach. By incorporating Polaris, Berachain not only ensures EVM compatibility but also supports a modular framework that allows for easy separation of the EVM runtime layer and crafting stateful precompiles and unique modules enabling the creation of smarter and more effective contracts.
Berachain operates a tri-token system: BERA (native token of Berachain i.e gas), HONEY (stablecoin) and BGT (governance token). Berachain Blockchain also provides a user-friendly interface and a comprehensive array of tools for developers and builders to create and deploy their applications.
Proof of Liquidity is a concept introduced by the Berachain team that enables users to stake various tokens and delegate this stake to validators. Users can stake assets like BTC, ETH, L1 tokens wBTC, wAVAX, wETH, wADA, and stablecoins.
Proof of liquidity models seeks to address challenges in common decentralized systems like liquidity fragmentation and stake centralization. Though Proof of Liquidity builds on the concept of proof of stake, the token used for staking is no longer the same token used for many on-chain actions. Moreover, the sole way to acquire new governance tokens (BGT) is through providing liquidity into DeFi applications.
Image source: Berachain Documentation
The concept behind PoL implies that users stake different tokens to enhance the chain's liquidity and bolster the Layer 1 security at the same time. This setup enables users to earn fees by contributing liquidity through staking while also receiving block rewards. Moreover, users have the option to mint HONEY by providing assets as collateral and utilize them within the Berachain ecosystem without constraints.
Berachain's EVM compatibility is derived from the Berachain Polaris EVM library, which enhances the EVM experience compared to the traditional Ethereum setup. Polaris Ethereum not only provides the standard Ethereum features but also empowers developers with the ability to design stateful precompiles and custom modules for crafting smarter and more robust contracts.
Polaris can be easily integrated into any consensus engine or application, including Cosmos-SDK. This modular approach streamlines the EVM integration process and reduces the time and overhead cost for developers to implement their own EVM features.
For DeFi Users - Berachain BEX
BEX is Berachain’s decentralized exchange that allows users to add liquidity to an asset pool and receive trading fees and incentives.
BEX introduces the concept of House pools, which serve as the backbone of the exchange. These default pools hold significant importance as they generate BGT rewards, which could be staked later with validators to participate in governance.
BEX also introduces Metapools, a liquidity pool where LP tokens can then be used as part of an asset pair in another pool, helping to increase capital efficiency across the chain.
Berachain Bends allow users earn interest and rewards by supplying assets like (ETH, BTC, and USDC) and borrowing HONEY. On Bend users can deposit collaterals to contribute to the platform liquidity, earn BGT rewards by utilising and borrowing HONEY within the ecosystem.
Berps
Berps by Berachain (Perpetual Futures Contract Trading) provides users with endless trading opportunities with a wide array of asset access EVM and Cosmos. It is liquidity efficient, robust and easy to use.
Chorus One will be providing staking services and contributing extensive knowledge in infrastructure development to the network. Our role as validators in the Berachain community symbolizes a collaborative effort aimed at delving into new horizons and enhancing the potential within this ecosystem.
Users providing liquidity in the BEX liquidity pools will gradually accumulate BGT, and can be used to create and vote on governance proposals such as proposals that decide on which LP pools receive BGT emissions. BGT can also be burned 1:1 for BERA. This is a one-way function, BERA cannot be converted into BGT.
Reach out to staking@chorus.one to get started or to learn more.
To read more about Berachain, we recommend the official documentation available in docs.berachain.com.
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
Welcome back to the another edition of the (Re)staking Synopsis, your go-to source for the latest in Ethereum staking, presented by Chorus One.
Cutting right to the chase: EigenLayer now holds the second spot in Total Value Locked (TVL) for a protocol, boasting over $12.8 billion USD (~3.6 million ETH) restaked. Impressively, nearly 2 million ETH has been natively restaked via EigenPods, marking a significant surge in restaking activity.
Additionally, the EigenLayer and EigenDA Holesky Testnet is live and thriving, with a staggering total of 157,433.0897 ETH already restaked! After a seamless testing phase on Goerli, we're thrilled to support this new phase as we progress towards Mainnet operations.
With a meticulously crafted AVS strategy, we prioritize the safety of the funds delegated to Chorus One. Learn more about restaking with Chorus One: https://forum.eigenlayer.xyz/t/operators-mainnet-campaign/12828/145?u=chorusone
Without any further ado, let’s dive in.
(Source: Dune Analytics)
OPUS Dedicated enables you to set up dedicated ETH validators, and directly restake your staked ETH with EigenLayer in a few clicks.
Note: At present, you can only deposit your staked ETH into EigenLayer; the option to delegate to Chorus One will be possible upon the EigenLayer Mainnet.
We will notify you once the delegation feature on EigenLayer becomes operational, indicating that it's time to delegate your restaked ETH. At that point, you will be able to delegate to Chorus One with just a few clicks.
How to restake ETH with EigenLayer
OPUS Pool enables you to stake any amount of ETH, mint osETH, and restake a variety of LST’s including osETH, cbETH, stETH, and more directly with EigenLayer in a just a few clicks.
Note: Restaking LSTs with EigenLayer is currently on hold and will resume once the deposit cap is raised. In the meantime, you are welcome to use OPUS Pool to stake any amount of ETH and mint osETH.
Visit OPUS Pool
How to Stake ETH and mint osETH
Read it here.
MEV-Boost targets the highest bid for Ethereum block space. However, a glitch arises when blocks include withdrawals, distorting the MEV valuation and making some bids appear more valuable than they really are, leading to losses for proposers.
Beyond individual losses, this issue has wider implications for the Ethereum ecosystem, inflating proposers' profits, cutting down overall transactions and gas usage, and consequently, decreasing ETH burning.
Our research team analysed the full impact of this bug, originally published on ETHResearch.
We explore how Ethereum's resilience is shaped by client diversity, offering an in-depth analysis of two of its most prominent Consensus Layer (CL) clients: Lighthouse and Teku.
Read it here.
If you’re interested in staking/restaking with Chorus One, or learning more, simply reach out to us at info@chorus.one and we’ll be happy to get back to you!
Additionally, if you’d like us to share further resources on any topic, please let us know!
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
Imagine a world where online interactions don't come at the cost of your privacy. Where you can participate, transact, and share data on your own terms, shrouded in a cloak of cryptography. This is the future envisioned by Aleo, a revolutionary blockchain project that throws open the doors to a privacy-centric internet. Let's delve into Aleo, exploring its technology, participants, and the diverse ecosystem it cultivates.
At its core, Aleo is a layer-1 blockchain that leverages zero-knowledge proofs (ZKPs) to unlock unprecedented possibilities for private applications. ZKPs allow users to prove the legitimacy of information without revealing the underlying data itself. This translates to applications where users can participate, interact, and share data confidently, with their privacy remaining more sacred.
Credit: A credit is the native asset of the network. It is used to pay for deployment and execution fees of zero-knowledge programs. Credits can also be staked on the network as a form of governance to protect the integrity and security of the protocol.
Microcredit: A microcredit is a subdivision of the native asset (credit). One credit can be further divided into smaller units, and a microcredit is one millionth of a credit.
Prover: A prover is a node on the network that computes zero-knowledge proofs. These proofs, which can be of two types (solutions and transactions), are crucial for validating and securing transactions and activities on the network.
Solutions: In the context of zero-knowledge proofs, a solution attests to the execution of a randomly-sampled Aleo program. When a prover successfully proves the execution, a reward is distributed to both the prover and the stakers on the network.
Transactions: Transactions attest to the execution of user-deployed Aleo programs. When a prover provides a valid transaction proof, a transaction fee is rewarded and distributed to the network.
Stakers: These individuals contribute to the network's security by locking up their Aleo credits (ALEO), earning rewards in return.
Validators: Similar to traditional blockchains, validators verify transactions and secure the network, ensuring its integrity and preventing fraud.
The robust architecture of Aleo rests on three key pillars:
AleoBFT is a DAG-based BFT protocol inspired by Narwhal and Bullshark. Validators propose batches of transmissions, await 2ƒ + 1 signatures, certify the batch, and advance rounds synchronously for an honest majority. In odd rounds, validators elect a leader for the previous even round, ensuring availability thresholds are met. This process ensures all validators advance together, assuming honesty.
Here’s how the Quorum for Block Production in Even Rounds is achieved:
The native token of the Aleo ecosystem, Aleo credits (ALEO), serve multiple purposes:
How Aleo Credits are distributed:
AleoBFT operates over a simple set of data structures - a committee, batch proposal, and block. Let’s understand these one-by-one:
Committee:
Batch Proposal: In each round, every committee member suggests a batch to certify, using batch proposals to communicate and maintain agreement on the DAG's status. Each batch proposal contains a Batch ID, Batch Header and a Batch Certificate.
Block: A block is created when the commit rule is activated in AleoBFT. It includes a block header, a sequence of batch certificates, ratifications, solutions, transactions, and a list of aborted transmission IDs.
The true mark of a successful blockchain lies in its ability to foster a vibrant community and diverse applications. Aleo boasts a rapidly growing ecosystem with projects already exploring its potential across various domains:
Talking about recent updates - Aleo is now considered as one of the top 5 fastest-growing ecosystems for overall developers. Also, Aleo has completed the security audits of snarkOS & snarkVM, which was performed by Trail of Bits.
Aleo worked hard to make the technical details of the project easier to understand. They've simplified and explained the main basics in a straightforward way. For example:
As a validator and staking infrastructure provider, Chorus One is deeply impressed by Aleo's groundbreaking approach to privacy in the blockchain space. The potential to unlock entirely new use cases and empower individuals with greater control over their data resonates deeply with our mission to build a more inclusive and accessible crypto ecosystem.
We're particularly excited about the unique technology stack, including snarkOS and snarkVM, which pave the way for scalable and efficient privacy-preserving applications. We believe Aleo has the potential to significantly impact various industries, from DeFi and healthcare to supply chain management, and Chorus One is proud to be a part of this journey. We are looking forward to actively contributing to the network's security and growth through staking infrastructure and look forward to witnessing Aleo's continued development and the exciting applications it enables.
Website: https://aleo.org/
Twitter: https://twitter.com/AleoHQ
Youtube: https://www.youtube.com/@AleoLabs/featured
Github: https://github.com/AleoHQ
Discord: https://discord.gg/aleo
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 50+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
