Staking Rewards Partnership - Stake App & Terminal Integration

 

Edit: Based on the community feedback, a proposal update has been added at the end the original proposal below.

Staking Rewards Stake App integration & Ecosystem Partnership

Executive Summary

About: StakingRewards.com is the premier staking aggregator and tooling platform dedicated to the staking economy. It equips investors, analysts, and industry participants with a comprehensive suite of tools and insights, enabling them to optimize staking investments and stay abreast of the evolving landscape of proof-of-stake (PoS) blockchain networks.

Purpose: The purpose of the integration with Polkadot is to provide native staking capabilities on stakingrewards.com that enhance user experience, foster decentralization of the Polkadot network, and offer additional staking ecosystem tooling. The goal is to build the official Stake App for the entire Polkadot ecosystem. This integration will also support onboarding existing and upcoming Parachains for a fraction of the costs.

Scope: The scope of the project includes developing a dedicated Polkadot staking integration optimized to provide an exceptional staking experience for the Polkadot community, encompassing the entire staking user flow from start to finish.

Benefits: The integration will provide significant benefits to Polkadot users by offering a more streamlined and efficient staking experience.

Introduction

This proposal supports the Polkadot Ecosystem in their efforts to decentralize Polkadot infrastructure by providing additional staking tools to enhance community staking activities and the greater Polkadot ecosystem.

Integration Features

With years of experience optimizing the staking flow for users on StakingRewards.com, we have developed a comprehensive staking app that fully enhances the user experience. The app includes the following features:

Native Staking Capabilities: Users can connect their Polkadot wallet and stake to a chosen validator or liquid staking protocol directly through stakingrewards.com. This happens through an integration into the Staking App. Users will be able to stake with any or multiple validators in a single transaction.

Advanced Monitoring: Real-Time Portfolio & Reward Tracking Terminal for Both Retail and Institutional Users to monitor staking positions across multiple validators.

• Claim & Restake Rewards Button
• Undelegate + Redelegate Flow

Curated Staking Strategies: Allows users to stake with pre-configured sets of validators to minimize correlated slashing risks and promote decentralization.

Risk Optimized Validator Ranking: Highlights validators that promote network decentralization through delegation.

Parachain Support: Thanks to Polkadot's modularity, Parachains can be supported at a fraction of the cost following mainnet integration as many components can be reused.

Impact on the Project

Enhance Decentralization: We will work towards decentralizing the validator network by attracting more validators from diverse backgrounds and geographical locations, thereby increasing the network's resilience and security.

Improve Staking User Experience (UX): We recognize the importance of a seamless and intuitive staking experience. Our project will focus on developing tools and interfaces that simplify the staking process and provide users with greater control over their staked assets.

Increase Adoption: Through targeted marketing efforts, community engagement initiatives, and strategic partnerships, we aim to increase awareness of Polkadot's benefits and drive adoption of its network and services.

Onboard More Validators: We will actively recruit and onboard validators to participate in the Polkadot network, expanding the validator pool and further decentralizing network governance.

Enhance Validator Tooling and Verification: By providing validators with robust tooling and verification mechanisms, we aim to improve their operational efficiency and ensure the integrity and security of the Polkadot network.

Integration with Staking Data API: We aspire to integrate Polkadot data into the Staking Rewards API, enhancing the visibility and accessibility of Polkadot staking opportunities to a wider audience, including institutional investors such as Grayscale.

Commercials and Milestones

Milestone 1 - Research Methodology Development

• All relevant data is defined and accessible
• Risk metrics for optimized validator ranking are clear and a sample calculation with relevant parameters is provided
• €15.000

Milestone 2 - Staging & Testing

• The Stake App is integrated in a staging environment
• Thorough testing is conducted
• Engage with the community for additional feedback community
• €35.000

Milestone 3 - Stake App GoLive including all key features

• Seamless Staking capabilities
• Risk Optimized Validator rankings
• Advanced Staking with multiple Validators at once
• Advanced Monitoring of staking positions
• €50.000

Total amount requested: 100.000 EURO (114.000 $USDC)

Conclusion In conclusion, this proposal seeks to integrate Polkadot with the Staking Rewards platform, enhancing the staking experience for its users while promoting decentralization and adoption within the Polkadot ecosystem. By developing a dedicated Stake App, we will provide native staking capabilities, advanced monitoring tools, and curated staking strategies that cater to both retail and institutional users. The requested funding of 100.000 Euro (114.000 USDC) will be allocated across three key milestones, ensuring a robust and efficient implementation that aligns with Polkadot's long-term goals.

We look forward to discussing this proposal with the community and welcome your feedback before moving forward with an on-chain proposal.

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Edit 12.09.2024:

Proposal Update: Response to Feedback and corresponding Adjustments

Background:
Before submitting our proposal to governance, it was posted on the discussion forum from August 19th to September 5th. During that period, there were no comments, so we moved forward to governance.

Once in governance, we received valuable feedback that raised important considerations we hadn't initially addressed. As a result, we are revising the proposal to incorporate these insights.

Key Feedback:
@TMC: Highlighted the lack of governance capabilities in the proposal.

@saxemberg: Addressed concerns regarding the ranking logic for Polkadot Validators (currently based on VSP & AUM). 

We deeply appreciate the constructive dialogue and encourage continued community engagement to ensure this proposal adds significant value to the Polkadot ecosystem.

Proposed Adjustments:

1. New Badge for Validators: We will introduce a "Decentralized Node Program" badge in the Polkadot Validator section, signaling participation in the 1KV program. This aims to further decentralize the Polkadot Validator set and support Community Validators in particular.
2. Ranking Criteria Update: We will shift to an objective & neutral, performance-based ranking system. Validators will no longer be ranked higher solely based on VSP status. Instead, metrics like Era Points will be used to calculate validator performance. Additional feedback from the community on this change is welcome. Do not hesitate to leave a comment.
3. Support for Nomination Pools: Beyond staking to individual validators, we will integrate nomination pools to enhance staking flexibility.
4. Transparency on Treasury Funding: We will explicitly indicate that the integration into the stake app is funded by the Polkadot Treasury with a clear note: “This page was funded by the Polkadot Treasury.”
5. Governance:
   
   (Included) Governance Information: We can commit to including basic governance information as part of this proposal. This will include features such as voting prompts or a feed with proposals. At a minimum, we will inform our users about the existence of governance and their ability to vote.
   
   (Not Included) Governance Features in Staking Terminal: Governance capabilities will be integrated into the Staking Terminal to foster participation. However, this requires further scoping and will be part of a separate proposal once the App integration is finalized.
6. (Not Included) Verification for all Polkadot Validators: We are open to verifying (VSP) all Polkadot Validators. If there is community interest, we can submit a separate proposal to implement this.

About Staking Rewards:
With 150,000–200,000 unique monthly users, StakingRewards is a key platform for staking across multiple ecosystems. Increased exposure of Polkadot staking and governance here will significantly benefit the ecosystem.

Our staking API is widely used by major industry leaders, including Grayscale, Coinbase, Kraken, and Bloomberg. Additionally, the Staking Summit, an annual gathering of key players from across the industry, offers further opportunities to elevate Polkadot’s presence in global staking discussions.

Each year, we host the largest global Staking Summit, bringing together key industry players, including foundations, home and enterprise stakers, liquid staking protocols, builders, and investors. Moving forward, we will explore opportunities to integrate Polkadot into the summit to drive further adoption and innovation.

Further Engagement:
We look forward to ongoing discussions and are confident that these adjustments address key feedback, enhancing our proposal's value. We hope this revised proposal encourages your support! Any additional feedback or suggestions are greatly appreciated and welcomed. 🙌