TwoEggs (twoeggs)

TwoEggs

Decentralization activist, nerd, solo staker since March 2021, Bankless DAO, farmers market habitué

14 Followers

Recent casts

Watched excellent @ethstaker video on Guardians of the Ether. Got tips on how to mint a Solo Staker NFT for anyone staking as of 9/15/22 (which I was ;-) https://www.youtube.com/watch?v=JvFyIvgKmso

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Much of the decentralization conversation has to do with "hard" technical risks like at 51% attack. Often ignored are the "soft" political risks with having a huge percentage of the ecosystem locked into a single for-profit liquidity pool like Lido. For example, this could be a choke point for political capture of the entire Ethereum Ecosystem.

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I just read the Staking Survey published by @nixo and @ethstaker (great work BTW!). Key take-aways for me: - Most solo stakers are old-timers (58% went live before 2022) - Only 12% hold significant liquid tokens (so missed returns) - Only 28% are more favorable about staking today than when they started This does not bode well for building a healthy and growing solo staker ecosystem! https://paragraph.xyz/@ethstaker/staking-survey-2024

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Top casts

I would add that the ability to rent bikes for short trips has changed how I travel. We visited Stockholm, Copenhagen and Rotterdam this summer and rode all over each city on bikes!

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I have been a home solo staker for 3 years. I just went through 1 month process to shift to being able to restake to Eigenlayer operator. It was brutal, in fact so bad that I am working with a team to create a DAO for supporting solo stakers and improving decentralization for ETH.

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Along with convenience I would add fear - I just shut down a validator and restarted so I could set the withdrawal address to Eigenlayer. It took over a month of wall clock time and many, many frightening moments of setting addresses and getting conflicting results, culminating in finding out the Ledger doesn't support depositing native restaked ETH.

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Liquid staking and restaking have made it more profitable NOT to solo stake. It then becomes more of a philosophical commitment to decentralization than a financial/rational decision.

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Onchain profile

Ethereum addresses