Rocket Buidlers Workshop

[Music] foreign before next year the mic um I'm a rockapoo Enthusiast wait wait time out time out they're not ready yet they're not ready yet not right okay so let's start again for like three minutes yeah yeah they're they're doing some weird now you're ready let me give you the thumbs up morning everyone thank you so much for coming today my name is dantu also known as fornax from the rockapoo community and I'm here with Ken we will introduce yourself Kim yeah hey good morning everyone uh Happy battle week my name is Ken Smith I'm one of the community members and rocket scientist with rocket pole and glad to be here nice so we are here today to talk about this is the rocket Builders Workshop and we're here to let everyone know how easy it is and how everyone can be a node operator and a validator for the securing the ethereum network um I'm Forex and I'm not on the rocket boat team I'm just a big enthusiast and this Workshop was funded by the rockapole community through its Grant grants committee so uh well uh let me just start on the why steak your ether to secure the network and I'll start with a small story because I promise Ken that I would I would tell that here I'm from Brazil and came here just for it's my my first ethereum conference and that's a funny story on the on the immigration and maybe not sure how many of you came from other countries and pass through this nice immigration process and the guy asked what what I was doing here and I said hey I'm here for a a blockchain conference I'm so excited and he said did you say bomb chain no sir I said blockchain conference I I didn't say boomching and he said there you said again and I what I said I didn't say bombsheen uh ended up but you said again and at this point I was no this guy is kidding me yeah I started laughing you probably have a strike system if I say three times it's straight to jail and I guess they don't like jokes and I got a nice invite for the room not sure if any of you have been to the room the immigration room or some officers do lots of questions and and they started asking a lot of questions about blockchain and what's a blockchain why people use it and where does the value come from and I guess he just wanted a a free course on blockchain and it was a nice 30 minutes asking a lot of answering lots of uh blockchain really related questions so that was a kind of a new experience and a kind of a welcoming for the and the preparation I guess for this for this moment I had to answer why the blockchain is available because so many people think it's interesting to to use those networks and and have a true uh trustless system a true neutral system where no one has where you can develop systems where no one has an admin key for to to change things that is really a powerful statement right and this release to to why stay Sharif so the the first and biggest reasons to secure the network so that we can have and this creative credibly neutral system that uh where everyone can trust that it uh there is a share Ledger that no one can isolatedly change they would need to have a majority of validators to to change the state of the network um so that's the the main reason that we would tell someone to to create a validator on the Tyrion Network and since this is a beginner Workshop I made I'm going to give some really um basic concepts here so and maybe in the end we're also going to have some more advanced and even for the future [Music] deployments future developments um both rocketpool and ethereum so to to become an ethereum validator you need to stake 32 if and you'll lock that on on a smart contract and you make a commitment to run ethereum clients um both execution clients and consensus clients that one client of which type that need to be connected to each other so it is a commitment to keep those clients running 24 7 and updating and keeping the node as secure as possible um we couldn't say it I currently have more than 500 000 validators securing the theory Network so that's times 32 if so that's an amazing amount of eaters securing the network so an attacker that would like to will try to attack the network we need to be heavily invested in the network to be able to to to perform any kind of attack so he we need to have so much ether that he would be the most impacted by these attacks so it's a a very interesting way to align the people that are securing the network with the health of the network as compared to a proof of work system where the miners would just run a software with gpus and they wouldn't suffer anything if they tried to to grab enough a hash power to to perform an attack they could just continue attacking and and on proof of stake they would have that that Capital slashed so they really suffer from from that attack and um the next good reason for people to beat to become a Staker to become a validator is to earn rewards so we have both consensus Rewards that include attestations that you receive at small amounts every Epoch that is 6.4 minutes uh you have you can be selected to be part of a Sim committee and Sim communities are a group of 512 validators that are randomly selected every 27 hours to a test on blocks on each slot so and there's a lot is every 12 seconds so you have a new block every every 12 seconds so the Sim Community is a very very uh that's the word rare because it is expected to happen every two years maybe a bit more now but also very profitable because you you receive those rewards every 12 seconds and also you receive rewards on when you are also randomly selected to be the blog proposal that is expected to happen every two months or a bit more now depends on the number of validators and when you propose a block you receive a bit of consensus rewards that go to your balance on the on the beacon chain but also execution Rewards that include tips and tips are small amounts of either paid by by users that want to include their transactions on the Block and uh also nav and I'm going to explain maybe a little better in a few minutes feel free to add anything if you would like and um so that is the basic concept of is taking your literature to become an ethereum validator and now I'm going to explain why rocketbook makes it easier you have initially the the first and most important is that it reduces the entry cost instead of needing 32 if you only need 16 plus 1 1.6 e for RPL that's the rocket pool token and soon it's going to be even lower the only needing eight if plus 2.4 worth of RPL so that's a very um much lower entry cost and we also have a very interesting mechanism that is a good incentive for people creating their node that I'm also going to to explain it better in a few moments but when you create a new validator and you manipot it's called a um on Rocket pool uh you have the opportunity to perform an Arbitrage operation and profit from it so it covers yours your deployment cost and also gives you a some profit from it we also have some extra rewards because instead of having just one validator with your 32 is you could instead have a tube mini pools and you weren't the the reward for New York ether and also 15 Commission on the 32f provided by the protocol so um and and also on the RPL that you needed to to stake to create those menopause you have rewards that every 28 days that is equivalent to um we have a RPL inflation every 28 days that is five percent um and and uh 70 of that goes to node operators um 15 to the grants communities and see Oracle without yeah um another thing that I wanted to discuss is um because many people are afraid maybe to It's A New Concept to keep this this machine running and it usually needs a Linux distribution most people use Linux and it can be a challenge to some people to to do that so um one other very interesting thing is that uh rockapu has uh some excellent guides on how to do these things most of them written by Joe let me just grab some other yeah it's a uh just to add kind of the commentary here that I mentioned two things one if you're in the audience and you're interested in staking and you're like I don't quite know if I have the technical capabilities I don't know if I get stuck if there's going to be somebody out there to help I'd say the strongest asset of Rocket pull right now is the community and the Discord channel that it has that almost any time of day you can get on there in one of the community members it's more experienced will certainly help you with the installation but you'll see today the installation is pretty simple but it still helps to know there's a lot of people there that are going to be willing to step in and help your validator get going if you get stuck and to the earlier point about the uh the what I call the accessibility of staking 32 eth even at today's prices is a significant amount of money and so by using a staking pool like rocket pull you could reduce the capital needed right you're hearing the kind of soon to be only eight eth required shared and I think there's going to be an announcement during the main presentation rocketpool's a sponsor of um of eth Denver this year and you'll you'll hopefully hear an announcement to that uh on Thursday I think it is um the other thing I'll mention to it in terms of earning rewards is because when you stake with rocket pool you put only eight but the ethereum protocol requires 32 24 eath is coming from liquid stakers and you earn a commission it's going to be 14 but since you're earning that on three times the amount that you put in you really earn 46 node commission and that is just an exceptional return if you're just looking at kind of dollar costs but again the main purpose of staking we believe strongly in rocket pool is to secure the network and we believe by uh yeah uh it's it's yes it's 46 percent on the uh return on the overall return so like as in just mention here your your execution layer returns very Mev and tips your consensus layer returns are about four percent so you earn an extra 46 percent on that right so it doesn't quite come to 46 but it's 46 percent of you know I'd say roughly around seven seven and a half percent is I think what most of our nodes are are making them seeing some shaking heads that are in there um so definitely do your math do your research on it but uh that uh thing uh I like calling it a multiplication Factor does come in quite handy thank you again so I invite you guys to join the Discord here's the the link is there Discord dot GG slash rocketpool and there you'll find 24 7 people available to ask to to answer any of your questions we have some really big brains that are donating their time there then answering the most complex scenarios that you guys can can come up you have uh many users that are willing to to help you fix any any issues that you may find so here's my shout out to the support guys thank you um so uh uh well one thing that is important I didn't explain properly was that rocket poop the protocol it has two big groups of users that it intends to to serve uh the ones that are willing to make that commitment to to have a machine running 24 7. um and maybe people that really like your computer and and tinkering with software and we also have uh user said hey I just have a small amount of it and I don't want or or for other reasons for maybe for text purposes they they prefer to just stake that that either without running the the the software so rocket pool matches those two kinds of users well one willing to run the software makes this initial deposit and the remaining uh ether to to be used to create a validator is going to be pulled by the the second group of users that just want to make deposits and receive the yield without making the commitment to to run the software so for those that I'm going to discuss mostly here the features that make the life easier for this group that is the node operators to make their life easier to run that software we have some special features created either by the rocket food chain or by the reworkable community uh the main thing that makes life easier is the Smart node it is a CLI tool with a terminal user interface that makes it really easy and I'm going to show that interface in a few moments uh you just really need to select the options that you want to run select your clients if you have a fallback or not how you want your NV boost and you're ready to go it's so it's a piece of software that is really well done and it deserves a many compliments here for the for the team um another very interesting feature of rocket boost I do you we have the smoothing pool which is a contract that with with the intention of when you as I mentioned when you're being selected to propose a block that could happen that is going to happen in random random manner so could take maybe months for you to be selected to be a Blog proposer and that way that um that source of income is really unknown that's when you're going to be selected so if you you have the option to join this moving pool to um and everyone every uh operator who joins that smoothing pool will send their rewards to this to this contract that is going to be shared equally and proportionally to to the amount of validation that each operator has so that you you reduce this um what's the term this um this variability thank you and have a a study and expected uh income flow so that's a very interesting you kind of don't need to worry hey I'm really five months without being selected you're still having an income from from the pool on the other hand if you are selected and you and you receive a really big reward you don't receive the big reward it's going to be equally shared among the operator said that joined that pool so it's a trade-off you kind of wave any big winnings for a stead and certain win and every 28 days uh another sorry I'm talking about it no let's finish him [Music] another very interesting feature is the rocket rescue node and that is a Community Driven feature initially by popash and patches and objects that worked on this really amazing and service there is a node that runs both clients and an execution and consensus client that is available to be used as a fallback for any node operator so which means that when your node is down for any reason you need to perform some updates or you had some issues your disk is full with any problems with that uh you can just connect to the rescue node and use it as a fallback so you can continue performing your your duties your at the stations and proposing blocks and while taking your clients down and Performing what you need to to fix there so that is a amazing feature for another person because it takes away this this pressure of hey you need to be 24 7 online and you you can't take some down time and not worry about it I mean you you continue receiving the the rewards so that's a very interesting thing to have and it is available to any rocket pool not operator uh you just currently The Operators ask for these credentials to use the the rescue node but we have um a website let me show it to you guys rescue I'm not sure if this one is so uh so we have the rescue node.

com website and it has the instructions on how do you um you would request these credentials to use this the service and it only takes a sign in message from your node wallet and you paste that that information here and it will give you a new an URL to to use um and you you can use that for 15 days so even if you need a full receive if you if you need to to wait for some new part to arrive you're covered and and you can renew those credentials uh four times per per year so that's really amazing um I mentioned here the Mev boost as a um it's just as a feature for from the smart note that it makes you really might makes it really easy to select which relays you want to your your node to communicate so if you have concerns about a regulator or unregulated uh relays uh the smartphone makes it really easy for you to select which kinds of which kinds of relays we want to to connect if you want to add okay um smart note as I mentioned it abstracts all the complexity of installing those clients um the the basic installation is using docker so as I mentioned you you just select your clients it supports all the major clients you have neither mind and bezel for execution and Lighthouse the cool prism load salary enables for the consensus client um and it makes it super easy to update when you when you update a new version of you when you download a new version of the smart note it will already update all the versions of the clients for you and you really don't need to to worry about anything it also comes with some very interesting monitoring tools as grafana and parameters rafana not sure if any of you have used it's a software Tech can that helps you keep track of the node metrics I have here um a dashboard that's it shows you like every metric every important metric about your your node so for those that really uh want to improve their node their performance you'll find here every information that you you may need it's like your your battle station yep and you can also set alarms alerts from like when your disk is closed it's almost full you can receive an alert for any metric that you you can see here you can configure um an alert but that will only work when you notice online so another very interesting uh product to use is the beacon chain mobile application where you can monitor your validator and opt to receive notifications when it is offline and that will work even when you know this offline so um so if you have a um if you you know loses power you can be notified and act on it so those tools are super useful to keep track of your node performance when before you go on there I think one of the key things especially if you're sort of new to this that it may not be entirely clear is to run an ethereum node it is um it is getting better but it right now it requires I think no less than three different pieces of software right you need one one ethereum client called the execution layer client or the execution client you need another one called the consensus layer client or the consensus client and you can you can mix and match from the slide that was shown right there's a third one that you're running which sometimes is one in the same or sometimes it could be different which is your validating client and kind of the client that actually signs your signature to a test to each block that or each uh each block that you've been assigned to right uh you most validators will probably run the fourth client which is your Mev boost because you would like to gain the chance to win one of these Lottery blocks or to make extra income on there so you're you're running four clients right three that you need four that you're probably running and you need some other piece of software to kind of keep track of your node just in case something hiccups on it and you got to do something with it and for a person that solo Stakes it just does this out of the box uh it takes a little bit there's really good user guides out there by the e-staker community but it does take some time to go through and I think what you'll see a little bit later on with the smart node stack is it does it all for you in just a couple of command lines thank you Kim um so another uh things I want to explain to you to you guys as I mentioned before when you create a mini pool currently we are on a on a scenario where as I mentioned we have the people that just want to stake without running the the software so they they make they deposit The Ether on rocketpool and receive the RF token back and that contract has a limit on how on the amount of heaters that can be deposited it's currently 5 000 liter and the deposit is is uh this contract is currently at its full capacity uh so what happens is that okay when new users want to to have um to buy RF they need to to buy it from the market and it creates a small premium on the on the RF price and when I know the predator Say Hey I want to create a new mini pool and a new validator so it deposits 16 if and withdrawals 16 years from the spool which means that it opens the space for a new 16 if deposit and as the price on the market is trading at the premium so this operation allows the person that is making the deposit that is creating the the mini pool it allows you to create a bundle transaction that creates a mini pool uh deposits 16 liter on this newly created space on the on the deposit pool gets the equivalent amount of re from that from that deposit at the official RF rate and sales those newly minted Arif cells at the market for a premium and um and you can do a flash loan to uh grab this extra 16 leaf that is required so at the end of this process you repay that that loan and keep the the premium from this operation so when you we are at this scenario there's a very good incentive we saw no the prices receiving 0.4 if for creating each mini pool so that is a very good incentive for for new node operators and it's a very interesting way to balance the because when we have too many of one kind of user join the joining the network like only people depositing without wanting to create new menopause it kind of creates an uh out of balance protocol so it is a a nice way to make the protocol to to rebalance the protocol so you have an incentive for the order kind of group to to launch new menopause and increase the capacity of the the protocol and this is a rocketarb is a community feature it was not created by the by the team it was something that Ramana developed both a smart contract that deals with the with the flash loan required and and doing all these operations and and also a script that will create a bundle so that if you don't use this script you create a mini pool and some other bot is going to say hey there's like I can make this deposit and and profit so a bot would do that so using this script you create a bundle meaning that you execute all these transactions together and you can make sure that the person who is creating this new space is the one who's going to to profit instead of a uh random MV bot out there so um cute is to Ramana for this amazing development that do you remind how many people how many times it was used really another place for profited like 400 if from from using rocket arms so that's an amazing tool uh I'm showing here uh a graph about the Envy boost just to explain a bit about the um how it works to the left you have the the builders that um are looking for transactions to the the most profitable profitable uh blocks grouping transactions to create blocks and sending this then to on this at the center on the relays and the relays would send those blocks to to validators that are on the on the right so rocketpool makes it really easy for you to select which release you you want to connect according to um which ones you think it's better fit for your your situation I already covered the rescue node sorry so um the these features that I mentioned are on the software part like making it easier to to run the clients to to run all those um the monitoring tools that come as well with the with the smart node so that covers the the softer part and I'm now going to introduce you to a project by Joe clappis that is on the rocket pool team that's called proteos and it's a staking machine that is ready to go you buy it and you receive it and you plug it and it already has the software installed and and it has all the the rod the hardware um requirements to to create to to run the the software so you just plug it in and it's ready to go and let me show you guys one here sorry the camera can Zone here so it's a extremely tiny machine uh uh it has the it's based on the Russia Rock 5B board and has a two terabytes and and vme disk and an optional Wi-Fi uh board and everything that you need thank you to to run your validator um job did a lot of work into into this project and he created a an image with the recommended security features that we otherwise have on our guides for the users to to harden their their installation so this with this image you already have all these features set up for you it is capable of running all the clients runs at around five to ten Watts so it's a amazing efficient machine especially when compared to the requirement the energy requirements when we were on the proof of work so you replace those all those gpus with now a machine that runs at 5 Watts it's like an amazing Improvement it's a low cost Hardware this in this all this uh let me show the the text pack here so out of these components and they're going for much the amount a bit less than six hundred dollars um and you have also some gig effect on it it runs on the arm architecture uh the case is made with 3D printed parts and you have that customized vanity plate where you can um send any image that you want printed there so that is super cool you can customize with different colors we have a few units and going around if you guys want to to take a look so that's a an amazing project by job that we can all see how much uh love and and dedication he had to to this project so as I mentioned it has a rock 5B 16 gigs of RAM two terabytes of SSD an optional Wi-Fi Bluetooth module you can have both options of active or passive Cooling the active has a fan that is super quiet if you guys later want to to it's a knock tour fan in there so whisper quiet you can't even hear it yeah if you if you guys want to approach here then we have one that is powered and you really don't can hear the fan working and uh personalized vanity plate that you can make your own and here are the pieces that are used to to create the Proteus it is uh incredibly small a small machine even smaller than the the nuts that are already a small machine I have here the QR code if anyone wants to take order to order one there is a online form setup and Joe is accepting crypto for for the payments so that's quite easy and a good use for your crypto if you have it there um I'm wanting to cover some next steps about the TV network with the Shanghai upgrade and also the expected change changes on the rocket boost side for this um uh for the this coming Fork where we're going to be able to withdraw the validators so I want to cover the the process involved so let me first describe the withdrawals um because previously or currently you make that 32 if deposit and you are not able to to withdraw and with the coming Fork we are going to be able to to get that if back when we want uh so for the rocket pool process you would have uh we would start with one command on the on the smart node that is rocketpool manipu exit and that makes your your mini pool join an exit queue the execute is around eight validators can exit every Epoch so you avoid having too many voltage validators exiting at once um so while you while you're waiting on that queue you still have to run your node it is still performing your um normal duties and when you reach the executive state so you can turn off your node and you don't need to keep it running uh then there is an automatic process that is going to to happen um either scheming your um your balance that is above 32 if so that is called skimming so you receive what is um above 32 with on your on your mini pool contract or if you requested a withdrawal you would receive the entire balance and when that balance reaches your because the mini pool is a smart contract that is deployed so when that if reaches your your contract you call a second command that is rocket pool mini pool distribute balance so um because it will distribute the rewards that you split between the operator and the re folders because they they had a part of of the heater on the on that node and so they received part of the rewards and it gives back the capital the the if that was deposited and distributes the the rewards accordingly to the RF holders and to the node operator plus the commission that he receives for running the software um after that he can also call rocketpool node withdraw at RPL because he had some RPL states to be able to to run the mini pool so he can also reclaim that terrapia and that's that's it it's a simple process with three commands um another very interesting thing that's going to happen when um when did the with the new upgrade for Rocket boot that's called Atlas we currently required the 16th deposit from the node operator and and we're going to be able to convert that to what's called an lb eight it's a low eater bound Bond and that only requires a div so if you have one currently with 16 you're going to be able to start the process to migrate to this more interesting version where you receive commission for 20 to 24 If instead of only 16. um so you call the command rockable mini pool begging Bond reduction and it will perform some you have to to wait for some checks to be performed it's called The Script check and after that um the smart node calls a function automatically that is that's going to perform the bond reduction that is the green reduced Bond not sure if you guys can read that it's a bit small um with that option you you're going to have um a credit to create an uh another um lb8 so you would have a command to create this this new mini pool and it requires one nift to be available in the deposit pool and then uh after some time the the smart note calls a second function that deposits the remaining 32 31 if and that's it you convert it one 16 Leaf mini pool to chew lb8 and you would receive as Ken mentioned 46 more rewards than than a solo validator and here's another very interesting flow that we rockable is going to support which is a person that currently has a solo validator that is not a rocket pool node operator but wants to become one um he can migrate his credentials if they have a Xerox zero zero credential they can perform this this credential migration and so it's going to start by creating a rocket pool node just like any node operator that's where the person starts creating a new node staking RPL because that's the utility of the rocket pool um token it unlocks this possibility to receive extra rewards to receive the commission from RF holders so you take RPL you create a what is called a vague vacant mini pool because it's going to um receive this migration from the from the solo validator so it's not a manipulator you deposit your ether like when you create it with a new Bond you're creating one that is vacant it doesn't have any you don't need to deposit to create that and you specify the the validator public key and its current balance so you've been a solo validator for some time and it couldn't has its 32 if plus all the rewards that you received as a solo validator um so you specify that information the the Oracle down is going to confirm this information the check the credential is valid check the the balance the balance is correct so that's the script check and at some point you're after that script check is done you can promote that vacant mini pool um so it would become an operational as any other and as you had 32 if and you converted that to either 16 a 16 if one or an lb8 that only requires a div so according to which one you select you would have credit to create either 2 16 if or four with lb8s um so you can use that additional credit to create this this other menopause and you would call a refund function that would um give you the rewards from your solo validator because and it's a a different function that that then the the usual that is split between the node operator and the RF folders because this part of the the rewards that it won't be shared with rfo this was just the soluble data that that received then so it goes entirely to the node operator and so so this function gets called just once because it's the rewards you've received as a solo validator so we received it entirely um so it's just one so your future rewards so as you receive either from the protocol the the following distribution is going to be split between you and RF holders yeah I could just add two comments I think are very useful for that so one challenge that uh rocket pull has right now that I think everybody agrees is that even though it has more than 2 000 node operators uh it is still needs more node operators the demand for the liquid sticking token exceeds the ability for Rocket pull to actually stake it on on the uh on ethereum on the beacon chain and so one of the things that this does by reducing the node operator Equity or or deposit from 16th down to eight it actually the way the math works out it it allows rocketpool to increase its lift capacity or its ability to stake on the liquid toking the arith it increases it by a magnitude of of three so it's basically going to allow it to double and then double again its staking capacity and for the node operator what they get in both of these scenarios whether or not it's a conversion from an existing rocket pull uh half 16 any Pole to the LED 8s or if it's a solo validator that wants to then take their 32 eth and convert it to four lebates that they'll be able to get that additional additional reward so a rocket pull mini pull operator can go from right now they might be getting 20 percent they can go to 46 percent and then obviously a solo validator can go from zero percent additional return immediately to 46 percent so we are kind of anticipating once this is announced perhaps here later on at East Denver with the medium article coming out by the team we're hoping to see a large increase to the number of node operators that rocket pull already has thank you Kim one other thing the key thing on that sorry the key thing is that in either case whether or not you're an existing mini pool operator or a solo validator with these migrations the reason they're called migrations is you do not have to exit your existing validator you do not have to go through the exit queue which could be long after after sapela here you don't have to get back into the entry queue which could also be very long around chabella here we'll have to see you could do it without having to exit the beacon chain at all and that's the key thing there's no waiting in line to exit and there's no waiting in line to get back in foreign so This was meant to be a workshop with a hands-on experience but so we plan to have some Proteus units that you guys could interact with but we have some limitations on the on the network here so I could just connect one here with a good connect internet connection so I can show some of the concepts that we we discussed here um so let me know okay so I um let me I have um made a connection through my laptop into the Pro Tools that I have here using SSH so I'm going to call here rocketpool service config so when you receive your Proteus connect it to the power connect to an ethernet cable or to Wi-Fi uh all you need to do is well first you're going to uh you can connect directly with a keyboard to it I'm not not doing it that now um so when you connect a monitor and a keyboard to it and login you would only need to run rockable service config and I have to lower the terminal let's see we're here you go um so this is the the user interface that I mentioned where you just in a very user friend friendly way um select for instance if you want to run on the Predator test net which we always recommend that new another node operators start like practicing on the test net so they they can see all the operations that they would need to perform without risking any any funds and see how your your machine performs if it's it has the required um like if your disk is fast enough to to sync the the network you don't need to to worry about those tests with the approaches because it has a disk that is super fast and and all the requirements that you need but if you're running on your own machine it's interesting for you to to make those tests to see if your your Hardware is adequate for the task um [Music] you can select on the execution client this locally managed is so it means it it will manage uh with a Docker container it's going to download and you just select if you wanted to download an image with the latest version from Gaff nevermind bezoo it gives you the options to you don't really need to to change these things only but you you have the capability to to customize everything like the ports that are going to be used if you want to expose the RPC ports the P2P Port is going to be used cache size so it comes with the default configuration it's adequate for running but if you want to to change those parameters it's very easy to to do same thing for the if two clients for the consensus client you just select which one you prefer and we are always incentivizing a node operators to select the minority clients for to avoid having one client being too dominant um and you also have here an easy way to select all the options that you might need to to use that client you can select a fallback client if you have a second node that you when your first node is having any issues it would automatically try to to use the fallback nodes to take over here's the MV boost settings where you just enable it here and you select uh which kinds of relays that you you want you can just group them on all unregulated release or if you are worried and want to enable just the regulate it or you can also select individually some of the of the release that are supported and Rocket will continually adding new release for the node operators to select which ones they want and The Operators are free to to choose which ones they want to to connect to you can enable the metrics as I mentioned the uh that you're going to see on that graphana dashboard so you really don't don't need to worry about that's all uh ready out of the box for you but you can change these configurations if you need to we have some add-ons as well like we're currently have the wall painted the graffiti while painting that is we painted the rocket pool logo on the Bitcoin chain wow so that was something cool that the community on each new block that was proposed you you use it the graffiti with the coordinates for a pixel that will be painted and we've been painting the the rockable logo so after you run and select those options the system the smarter would take care of running the clients for you and you could have other comments here like see the logs for the iPhone so you can see that it is running and receiving new blocks correctly if you need to to debug some issue you would grab those logs and and post on our support Channel and someone would take a look for you and help you figure out anything they do you need to do any other comments yeah so let me show we have a rocket pool as the the main command and it has rear a few options so the the most used options are the node one node where you have options to see the status the the the sync progress of your clients let me show the wreckable node sync so it gives you the information that you're currently on the operator Network and your clients are fully synced um you'd have important operations here like to to stake your RPL um set your withdrawal address so that's one very interesting concept and it always suggest people to one of the first things that they do when when setting up their their node is to define a an address that would receive all the rewards and and would receive the the if when they withdraw so that you set this address to a hardware wallet that you keep safe and and so that um any of your funds would always end on that address and you don't risk then being lost node status oh I don't have a wallet here yeah so you would start by running rocketball wallet in it that's well I'm not sure if I would do that yeah oh yeah that's the command you would run to initialize a wallet so we would give you a your 25 words mnemonic that you can use and that's one also one interesting thing that uh if you're um when you create your node and you have some mini pools there so each mini pool has its its keys that it uses to to validate the network the only thing that you need to um so backup is this minimum minimonic this is 24 words and when you want to move to a new node with those 24 words you can recover all the uh your node wallet and always all of its Keys you can review this the keys with just this single um mnemonic so that's a very easy the only thing that you need to keep safe is that the node mnemonic and also your harder wallet that would be your withdrawal address and not going to be I don't know how how long we have here let me just um one important thing that is maybe most of you are anxious is that um we have a pop for the attendees so the attendees that are here in person they were able to Mint one pop and if you guys still didn't mint it you can do it with with Giovanni in the back and for any person that is watching online or even for the ones that are here you can also meet this online version it's on on the pope checkout and it it's asking for a very small like three dollars transfer to avoid a person grabbing all of the the Pull-Ups and we're going to have some very uh I can see a lot of people taking the QR code in the audience if you're in the audience you get the co-op for free in the very back right here the gentleman raising his hand has an iyk card just scan it with your phone and you get the po-op for free if you're watching online on Twitch love you guys uh there's uh the co-op checkout that just has a small nominal fee to prevent farming and you'll understand why in a second yeah so just to clarify there are two versions one for that you can claim uh that everyone here can can claim for free and this online version that is on the pub checkout and these two pops are going to be used um [Music] as tickets for a raffle that we're going to raffle one of the Proteus units and also five RPL that's close to like a 250 dollars of price so um you can join the raffle anyone holding any of those two or even if you have the two pops you can join this raffle that's um going to be um that's going to run tomorrow so you have some time to to mend the pop-up and to to join the the raffle and it's going to use the pull-up dot fun website so you don't need to trust me it's the official pop-up solution and it's going to be a fair selection of the the winners so one person is going to take a proteus home or five RPL that's some very nice prices if you want to end uh so I'm hoping now opening now for any questions you guys may have and if you're watching the stream and want to send questions on you can send them on on our Discord as well and I'll ask someone to to read them for me anyone have any questions [Music] hello I operate a handful of solo validators and migrating them to Rocket pool sounds like an interesting option I was wondering if there's a a dry run option with the software to uh well to do just that to perform a dry run without risking my eth to see that it's going to work ahead of time [Music] thank you directly an option okay um I'm not aware well oh no correct myself so he asked if there's any way for you to test this migration on a solo validator so yeah yes we're going to Rockefeller is going to have a better testing that on the on the Prater Network so you could create a solo validator on the Prater Network and download the rocket pool software and practice that on the on the test net so hi can you hear me can you hear me oh I do closer um you mentioned that you can switch from like 16 East to 18th by doing this how many sorry how many validators can you run on like one of yours taking Solutions basically okay that's a good question um so a machine like like the produce can handle any amount of validators like the limit is how much is the amount of gift that you have so it is we have people running 900 violators on a single node so um it can handle a very large amount of validators any other questions from the audience here uh I run just to the current mini pool uh sorry I run just two of the current mini pool validators um at the 16 Heath size and if I migrate them over to level eights will I still be able to execute the rocket our function when I launch those new pools um yes so when when you are when you are migrating it would also um let me see if it would open new space on the on the deposit book well currently the rocket app doesn't support that operation it wouldn't need to be updated to any new scenarios that would be um available to to have trash uh I'm not sure if that that opens because yeah it's an excellent question I'm gonna have to think about it I don't think it opens spot in the deposit pool the other thing that I anticipate is going to happen is that uh once withdrawals come we're going to see a very large Equalization between the market price and the True Value so I don't think that the imbalance of the price difference is even going to be there even if the ARB worked but I I like fornax is saying I don't think it actually opens up a spot to ARB the East because you're just redeeming a coupon yeah so when you create a new lb8 so you're depositing adif to create a new mini pool so that's a different Arbitrage so you would Arbitrage to with a bigger amount with 24 If instead of 16 so it's even better up trash when you're creating a new lb8 but when you're migrating we need to to take a look at the at the steps and if there's any points that you could still um um do that as well but I'm not really sure so yeah and I'm quite positive right now in trading or somewhere on the rocketpool Discord trading is a community can Channel there's probably already 100 people shouting into the Discord there the correct answer so we should just check there check the Discord and they'll give you the answer anyone else have a question from the audience here all right I think that's all the questions from the audience for next okay thank you so much [Applause] [Music] foreign [Music] foreign laughs [Music] [Applause] growing [Music] wrong yes Katan has always been a minute has always happened it's happening right now [Music]