Joining and Creating a PowerStaking

An individual PowerStaking within the protocol can be thought of as a validator collective. The protocol is permissionless, and each PowerStaking is fully customizable. Creating or joining a PowerStaking does not affect derivative minting. Once a validator has been registered with the protocol users can start the minting process which requires either joining a PowerStaking or creating a PowerStaking. The PowerStaking joined might not make any difference. Some people might want to gatekeep their PowerStaking only allowing certain parties in.

After validator owners register with PowerStaking and have set up their node, validator owners will have to wait until the validator is confirmed on the consensus layer. Validator owners can check their validator’s status on the “My Profile” page. Once the validator is confirmed, then the ability to mint derivative tokens dETH and SLOT is enabled.

Joining a PowerStaking​

Staking newcomers can join an existing PowerStaking as it reduces the complexities of managing a validator collective. This option is best for solo stakers who do not want to have a managerial role when it comes to managing a PowerStaking.

The benefits of joining an established PowerStaking are abundant. Depending on the individual PowerStaking, certain requirements might be put into place to gatekeep a PowerStaking by the operator. The better the PowerStaking performs the better it is for all the individuals involved.

Creating a PowerStaking​

Creating a PowerStaking is another option for ambitious solo stakers looking for like minded individuals or institutional stakers looking to onboard a large group with certain parameters. This option allows stakers to create a collective for other validators to join. The process is almost identical to joining a PowerStaking. PowerStaking are fully customizable. Users can align their PowerStaking 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. PowerStaking enables a new wave of validator management and optimization for ETH staking.