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About Us

This (open source) project was built when we recognized a need for home stakers to remain competitive in the staking marketplace. As a home staker, Kody (Kodys.eth) wanted to build a simple, no frills, MEV smoothing pool that requires no additional monitoring software to be installed on the staking machine. Simply change the fee recipient in your validator to our contract, register to the contract with the wallet used to fund the validator, sit back, and watch the rewards accrue.

Latest Update (7/11/23)

1. The state of all registered validators is now stored using a patricia merkle trie with levelDB. The state is passed to the contract via the ROOT hash on a bi-weekly basis (daily on Goerli) during what we call a rebalance. Anyone can monitor the state in real time by installing the Smoothly cli. We’ve implemented a libp2p network to enable state comparison between rebalances. This was done to fix edge case scenarios whereby operators roots were different due to network issues or beacon api response issues. If operators reach consensus on the state, any operator not in consensus will sync to the correct head.
2. To reduce the trust required in the team, this implementation allows for multiple oracle operators. Approved operators are whitelisted in the pool governance contract and propose a vote on the ROOT hash. Consensus (66%) must be reached BEFORE the state is passed to the contract. Shout out to Sam from ethstaker for actively helping us test this and being the first operator outside the Smoothly team. We’re very thankful!
3. We’ve increased the penalty for active validators who propose a block with the wrong fee recipient from 0.5 eth to 0.65 eth. This raises the block size threshold for validators to act maliciously to 1.3 eth which mitigates MEV theft in 99.5% of all blocks proposed during our sample time period. Additionally, we’re now monitoring validator registrations using the relay API. This provides additional assurances that validators retain the correct fee recipient between block proposals. For this reason, we’re requiring MEV boost be ran by validators. If at any time a change in fee recipient is detected, that validator is excluded from distributions during that rebalance period.