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LiquidStakeliquidstake.com

Overall Evaluation

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Questions + Answers

LiquidStake was provided an initial questionnaire by the EDDC to provide further insights into how LiquidStake works and to evaluate their safety as a Staking Pool Service. Please see below for the EDDC questions and LiquidStake answers.

  • 4

    PASS

    1

    WARNINGS

    5

    ISSUES

    0

    SLASHINGS

US

Yes

We Custody Withdraw Keys. Our Staking Service Providers (Currently Bison, figment, and ConsenSys) manage the validator keys. Our Custodian will in the new year custody voluntary exit messages.

Our BLS keys are generated by and stored at a fully insured Custodian. We have done our diligence to protect our customers funds by performing an additional independent audit of generated withdrawal credentials, conducted by a leading digital security firm to validate all the withdrawal credentials generated by the Custodian against signatures provided for each. This validation used 2 of the leading javascript libraries in the Ethereum ecosystem for BLS keys to ensure proper formation at the Custodian.

LiquidStake is a new company formed to provide liquidity to stakers. Its members are all long standing members of the Ethereum ecosystem.

James Slazas - former head of Capital Markets at ConsenSys (2015 on wards), Partner DARMA Capital.

Andrew Keys - former head of Global Business Development at ConsenSys, Board Member of various leading institutions in the web3 space.

Russell Verbeeten - Operations at Ethereum 2014 and Product/Operations ConsenSys 2015 onwards.

Tim Lowe - Lead development of ConsenSys Codefi (joined Dec 1st). The Development team is based primarily in Romania, most of whom are former ConsenSys blockchain engineers.

Gnosis SAFE is used in a portion of the flow when users deposit their ETH for staking. Otherwise we are not currently using a batch deployment smart contract for the deposit contract transactions.

Our users choose which Staking Provider they want to use. Currently Bison, ConsenSys, & Figment. Other Staking Providers will be integrated over time.

There is no token

"LiquidStake charges clients 10-11% of their staking rewards, depending on which validator staking provider they choose. The fee paid to LiquidStake includes all validator staking fees, and remains constant no matter how much ETH the client stakes with LiquidStake.

LiquidStake loans USDC at a 13.5% interest rate with a 35% loan to value."

Deep-dive Report

Key Takeaways

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Strengths
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Improvement Areas
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Changed
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