Validator owners have various operational tasks they can complete. Below are explanations of each function from the My Profile tab in the Stakehouse Dashboard.
To participate in Stakehouse’s smart contract suite, stakers will decide whether to join a Stakehouse or create a Stakehouse. In simple jargon, a Stakehouse is a validator collective. The protocol is permissionless, and each Stakehouse is fully customizable. Creating or joining a Stakehouse does not affect derivative minting.
Joining a Stakehouse
It is recommended to join a Stakehouse. Joining a Stakehouse mitigates complexities and is best for individuals. Larger Stakehouses can have additional benefits. Stakehouses’ may have different sets of requirements for joining. Validators can find the right Stakehouse for them based on parameters, statistics, and optimization goals. Stakehouse selection is done after registering a validator with the protocol.
Creating a Stakehouse
Creating a Stakehouse is creating a collective for other validators to join. The process is almost identical to joining a Stakehouse. Stakehouses are fully customizable. Users can align their Stakehouse with unique commercial needs, strategies desired, or whatever else they can think of. For example these parameters can be formed around a KYC, a chosen node operator, or whatever is important to the creator. Stakehouse enables a new wave of validator management and optimization for ETH staking. See create a Stakehouse guide here.
After validator owners register with Stakehouse and set up their node, validator owners will have to wait until the validator is confirmed via the Consensus layer. Validator owners can check their validator’s status in the My Profile tab. Once the validator is confirmed, then the ability to mint derivative tokens dETH and SLOT is enabled. Derivatives minting guide can be found here.
For validator owners to use dETH across L1/L2 applications, validator owner’s will have to withdraw dETH to their wallet via the Stakehouse dashboard My Profile tab. When performing a withdrawal, dETH goes to a user's wallet. Stakehouse is able to track the derivative’s path and yield because it can be reconciled with ETH within a validator. When withdrawn, dETH is fungible with all other dETH which has been withdrawn. All withdrawal transactions can be viewed in Etherscan, and the dETH balance is viewable in a wallet. Find the dETH withdrawal guide here.
If a validator owner chooses to exit the Stakehouse registry the validator owner can Rage Quit. This action burns the derivative tokens and removes the KNOT. To complete this process, a validator must be eligible. To be eligible a user must have the amount of dETH associated with the validator. If that validator was leaked and the total balance is less than 32 ETH then validator owner will have to top up the validator with the minimum amount needed to remove the KNOT. This top up comes from the user’s wallet. This action does not remove your validator from the Ethereum network. Validator owners retain their Ethereum validator on the Consensus layer. Find the guide on how to complete a Rage Quit here.