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Mechanism / WorkFlow

  1. Any ETH address which could be a DAO.
  2. A node operator creates a smart wallet for themselves by providing a valid BLS public key and 4 ETH along with it.
  3. Users stake their ETH in Giant Fees and MEV Pool and Giant savETH Pool.
  4. The pools collect the minimum required ETH to fund the validator.
  5. A user (mostly the node runners, as they will watch the Giant Pools and fund the pools of their liquid staking network) triggers a deposit in the Giant Pools which will distribute the ETH to the respective LSD Network.
  6. Upon successfully receiving the ETH each of the pools mint LP tokens to the Giant Pools. This makes sure that the Giant LP tokens (Proof of Liquidity tokens provided by the Giant Pools to the users) remain 1:1 in ratio with the Fees and MEV or the savETH vault pool LP tokens.
  7. The node operator triggers the stake mechanism. This in result transfers the 28 ETH to the associated smart wallet.
  8. The smart wallet upon receiving the ETH immediately sends the 32 ETH to the Ethereum Foundation deposit contract via the Stakehouse Protocol.
  9. Once the validator is active and the validator is Ready to Mint, any user can trigger it to start minting derivatives, and all the users (LP token holders and node operators) start earning yields and receive dETH.