Rocket Pool Community Call | 13 February 2025

Transcript

perfect well well welcome everyone here uh today's uh kind of the new new 2025 format here we're starting to alternate our calls between ones that are just a rocket pool Community focused uh such as today's and then other ones where we invite a a special guest usually somebody involving uh defi Integrations as we uh begin to kind of expand the uh the Integrations of our e utilization to help kind of boost the uh uh the attractiveness and the U ility of our e but um today's call is just internal here and um MAV had put together a post that was uh posted um in the protocol Channel and it had a link to a thread in trading uh that says uh what do you want

to ask lers and there were at least maybe eight or nine groups of questions that I uh summarized and have summarized and uh just posted those in trading not too long ago and thought maybe we'd start off there but I I certainly want to invite anyone if you have questions to come up on the nothing nothing there has changed um really um it just does it does seem to be that um every now and again there'll be a a kind of like a black hole will appear and and suck people into it yeah well you know was funny uh I was listening to a a rocket fuel uh lately

and kind of reading through the thread there and I I I thought maybe the thing people miss most is the price go up and to the right you know uh but surprisingly what they miss most was just the uh maybe the interaction with the team members and uh I wondered langers if you'd allow the team to maybe uh have some assignments to go uh shoot the [ __ ] and uh trading a little bit more it seems like they're all kind of heads down I don't know if that's with the focus on Saturn or some deadlines coming up but uh when can we have the come in and just uh you know shoot the [ __ ] with this yeah de devet one has definitely been taking up a lot of our a lot of our time um and with with other stuff as well but but mainly devit one I would

say um yeah no I we we all watched uh wax episode actually um pretty much um so uh we we're all uh very aware um of of that kind of um uh you know what the community needs from us from that perspective um so yes we are we are trying to be uh more active within the the Discord the the last like day or so has been hard um particularly for me but I've been trying to get in there and do do something um but uh yeah so that's um uh we will be very mindful of that going forward and we'll um we'll try and kind to put aside um a little bit of time each day to um to have a chat that sort of

thing yeah we both have to twist Dave's arm tell him he's got to spend at least an hour hour a day in trading yeah that was that was quite that was quite nice actually that the the community really missed a so um uh yeah I've definitely fored that along and we'll uh we'll get him in there yeah yeah uh one of the other questions that uh came up here and I'll start looking at trading here I see there's some questions there I don't know if they're serious yet I'll have to take a look at them here in a second but uh you know last time you were on the call just our internal one here you you mentioned about uh some possibilities that are in kind of the um uh maybe maybe in a potential um integration or potential use you

mentioned uh perhaps Fidelity and Sony uh anything you can kind of share on that or any any leads that you can share I know it's always kind of hard in business development here as to what leads actually lead somewhere but any updates on BD leads yeah sure sure um specifically Fidelity and Sony so um Fidelity to be honest our main contact that was quite um responsive is not as responsive um but uh so we've kind of been giving him a bit of a benefit the doubt but what we're probably going to do now is throw it wider we have some other contacts um that we can kind of like wider I'm not quite sure whether there's been some

movement or or something like that um with him um but we will kind of like throw that net wider so that we can kick off those discussions particularly around uh particularly around the liquid staking side of things now invas I think you on invas I'm sorry the Fe switch guy you got you got a A hot mic here used to [Laughter] blaming um so uh so with with oh so particularly with the liquid staking

side of things because um things are definitely moving on that front um so I'll try and I don't want to mix up the things maybe I'll stick with BD but call me back to the legal stuff in a minute if you can Ken um so in terms of fidelity we're we're throwing the net wider so we can get um some of those um contacts um with Sony we are in a holding pattern with them to be honest from their side of things they are trying to figure out where they going um and so um so that um has has we are in a holding pattern with them um but I am following up and we should hopefully have a bit more information within the

next next couple of weeks or so with them um other other things that have been going on the main thing that was been uh the last probably the last couple of weeks has been arbitrum um so arbitrum have a whole bunch of eth um that they want to um use within their ecosystem um and so so uh we've been working with um myself and Grant um and Alpha growth I've been kind of like working on um well actually sorry more than that it's actually really good because uh it cross pretty much the whole D um and so it was like me Grant uh the IMC and I think a little bit of the GMC as well um on trying to figure

out uh what deal we can put to arbitrum to um to get them to basically stake their teeth with us and then use it within def um in the arbitrum ecosystem so I think we put a really good case together um and a big um thank you to Alpha grow for um like pulling all of that together for us um so um yeah and there's some good conversations um across the board um with uh with basically with arbitrum they wanted kind of like joint applications so applications with other um with lots of parties so for example

our one um it was mainly it was us and balancer I think there's a little bit of arbitrum in there sorry not um Ave we were definitely talking to Ave but I think in the end it was just us and balancer so um and that the idea behind that is that they will stake their e and use it within balancer um oh sorry yeah actually they'll use it with in balancer but it will use um one of the the balancer PS that um goes to RV under the hood um and so uh yeah end up being looking really good so um that's a that's a really good uh opportunity um so that's kind of like

Arbitron um then H wallets so we have um spoken to treaser um we're kind of in the very early you know getting to know you phase um with with treasure trying to figure out um you how we can how we can kind of like work with them but um that's that's pretty good um Ledger Ledger there's been a whole heap of changes their side in terms of their like people so half the people that we were speaking to originally are have moved on so we kind of like re reorganizing that and and getting back into Ledger um to try and

see if we can do that stuff um Grant's been working through um the other list of of wallets um that he's got um reaching out to them and and um essentially trying to drive native staking so like a native staking ux um within each of those wallets so that's that's been going on um we're talking to RV directly about some stuff um trying to get um to work with them a little bit more um I think they they're the main ones maybe Grant can chip in and any any other ones I've any other big ones I've missed they're they're the main ones oh sorry uh the other one that we're

talking to is World Liberty Financial um and uh yeah hopefully we can get something um working with them as well yeah perfect and I certainly know un like Business Development it takes a you know X number of leads to lead to only kind of Y number of callbacks and you know and then you know Z number of actual mints or you know purchases so it's great it's great to kind of hear the focus on Business Development and um you know maybe year expanding role helping Grant and and MAV in that in that area um that kind of leads to one of the other questions here I'll Circle back on on one we didn't talk about but

uh you know it does seem kind of a good segue to talk about eth Denver and the team's plans for eth Denver you want to share a little bit about that and what what your goals are that you hope to accomplish this year yeah so pretty much with eth Denver um there's pretty much one goal every so each each conference actually we do actually have a goal for each conference and with each e Denver uh it's all about connecting with the community so uh so the biggest the biggest Focus will be on kind of like a social event um during uh e Denver which M's I'm putting together um at the moment so that is um that's kind of like the main the main focus and

and obviously kind of hanging out with the community at the at the event itself um we won't have a booth um this year um we kind of like playing a bit smaller I think mainly mainly because like heads space wise none of us really had the head space with with with sat kind of like going on to to get Stu some of that stuff done so um so that's kind of like a we kind of playing it a bit smaller but we'll try to have like a um an area that we we could kind of like hang out in or we um we we'll definitely do some some kind of like social things and let people know where we are and all of that

sort of stuff um so I think I think I'm going to be on uh panel at the moment I think M's just organizing that um at at a reaking conference I think that's um the only actual like appearance I've got over the time um but uh yeah it it'll be it'll be fun I think as I said before connecting with the community other other conferences have like you know hanging out with researchers or you know uh and that sort of thing um but with with eth Denver it's all about the community yeah I I I for one I'm really

looking forward to this this year's East Denver I was we were chatting just a little bit before the start of the call and uh you know I think I was still in a little bit of fatigue from Devcon but over the last couple of month weeks here I got my uh my wind and I spent uh the weekend kind of uh you know uh mapping out not only the main event but uh the site events right you know eth Denver if you haven't gone before it's a kind of a Choose Your Own Adventure right you got kind of the the the bidle days beforehand the main Festival which you have to at least spend a day in the main event or day and a half of the main event and numerous side events and uh you know like you said it's just about connecting with stuff and I think I

think it's going to be important for the team to not only connect with the community members that attend but I also think that you know in kind of relation to the previous conversation about business development right uh you know the other side of Rocket pool is the product we produce the re E Liquid staking token and we really need to need to start developing those relationships I know that uh Alpha growth is going to be there at eth Denver and uh they're going to be do some business development on our end and you know it's it's kind of uh that opportunity to meet people uh in person and uh either work on strengthening relationships or start uh making introductions on new relationships because this is the one conference where basically every every

team or any any protocol that's anybody is is kind of at whe whether or not they have a booth or not but they're definitely present they send their team members and they're engaging so uh I think it's going to be a really critical e Denver for uh for a lot of reasons yeah I mean connecting with the community is the primary primary thing but under the under the hood you know we're reaching out to um all those kind of like Partners as you as you said it's a good opportunity for people to chat um and and kind of uh I think bolster the relationship is what is definitely one way of saying it once you've you've met somebody it's a

it's definitely a um a much stronger relationship um and also to kind of like you talk through opportunities and that sort of thing so that those those sorts of things are happening where we've got a list of people that we're to connect with one way there as well dener it's a bit funny because you can't you don't necessarily lock in times um because nobody nobody really uh what they're doing until they hit the ground but um it is it is a there are kind of like a list of people that we know are going to be there and so we'll try and connect up with them um when we hit the ground yeah and everything I'm hearing is uh you know again it's going to be a little bit of a an [ __ ] show there I

mean the the planners at sporal they do an amazing job it's all community-led but again the numbers this year are just kind of crushing them and the Side Event list I see now is uh eclipsing even the site event at Devcon so uh you know it uh you know that spreadsheet rolls on forever so it's uh it's going to be uh quite an agenda so I'm telling everyone that's coming to it definitely sleep on the plane uh once you get there uh there's there's just going to be no rest it's going to be event after event after event it does look it does look like there's there's something for everyone on that on that side event list there's there's like if you're into anything there is there is some crypto

uh you know thing you're interested in overlap yeah I'm definitely looking forward to it it's going to be interesting to see too this is probably the first year in which I would say there's traditional Finance guys coming I think maybe last year I saw a couple people in suits but you know it'd be interesting I I went to the uh you know the bank list um uh conference that they put on permission list and you do get a lot of the traditional Finance people suit and tie or press plants but uh eth Denver is not that the way I describe it is Burning Man meets crypto and it's going to be interesting to see how like World Liberty Finance kind of integrates with the crowd there and and see how that goes but uh it's going to be something to look forward to I

think yeah I think e in would definitely be a culture culture culture [Laughter] shock yeah definitely um so the other thing I'm hoping to pick up is some new rocket pool crypto uh swag here um and one of the things that Dr D wants to ask here is uh you know any word when legal will clear the use of logos by the Dow for our merch store so I did I did check um this morning and uh there wasn't any news on that um so I think we're getting we're definitely getting to the point where it's getting a bit ridiculous so uh we will okay oh okay

there we're going to we're going to do some checking because they the the lawyers may have done stuff but they not let no so we're going to um double check that but either way we will um escalate it and get get things moving these St get bit ridiculous perfect perfect well I'm hoping the team brings a at least a suitcase of schwag to pass out to the community as well then I believe we've got beanies uh I'm trying to I I don't know how many but I believe we've got beanies this year I was just telling everyone on the weather I think it's going to be really

warm in Denver this year so you can never win but okay that'll be good no it's it's it's it's colder than here so we'll definitely pack pack shorts and a t-shirt because I think it's going to be hot uh let me let me ask you a little bit as we switch then from uh is there anything else still underneath Denver you wanted to cover I guess I I know M if you have know any more details I know there's a pull out about what dates people want to do the uh the socialization and Meetup hey yeah we're still uh finalizing the details but it's looking

like either the Friday or the Saturday could work so watch the space okay perfect it'd be it'd be kind of fun you'll hear you give everybody a 24-hour notice and say Okay show up but that that could be part of the fun but I think langers you kind of called it right you got to kind of kind of have a plan going in but you also have to be very fluid with eth Denver the traffic the crowds the craziness the logistics you just got to kind of roll with it sometime so uhh this this this should be good uh but let's let's transition for a second and go to kind of Saturn one um so I know on Monday or Sunday sometime the last couple of days we had Dev net one you want to you want to talk a

little bit about that and maybe explain it um you know I was like what am I supposed to do with this uh and just talk us about where where we are with Saturn one yeah so with Saturn in general um they you know it's an awful lot of scope uh to kind of like deliver so we we didn't want it to have we didn't want to have basically this long this long nothingness um and so we we're doing kind of like these Dev Nets to uh first of all because they're good they're good milestones for us to to kind of like work towards um second of all it means that the the community can

actually get involved in testing it and refining it and that sort of thing and provide feedback on it um and and it kind of like gives that uh you know the continuous progress um and that sort of thing through it de one is actually probably the biggest one I would say um uh you know all all of the kind of like infrastructure and that sort of thing is kind of built um with DEET one um the rest of them are slightly smaller um so um and so we're kind of like working on devet 2 at the moment um so devet 1 the aim of De devet 1 was to allow you to is basically to do the deposit process so um so it is deploying

a mega pool uh depositing a validator through that Mega pool um it is uh staking which is like that second transaction that we do we still got that second transaction um staking um dissolve oh sorry exiting the que so with um certain one certain one you can actually exit the queue so it is so if you're in the queue and you're for for um to be assigned um anytime before assignment you can actually exit so you can exit the queue um and when you exit the queue it gives you a credit so um you can then either come back later and

and uh deposit again um or you can uh cash that credit out for AR um so you can withdraw that credit um as AR so uh so that whole process is in there um dissolving is in is in there um dissolving is slightly different um to how it was before in the sense that dissolving only happens when um if if it's been assigned eth and and it hasn't executed that for the for the last um I think it's like two weeks or I think I think it's two weeks or something like that um two or four weeks

um and then it's then it's dissolved um there's some slight changes in the sense that a node operator can dissolve it anytime they want so if they if they have issues with their node uh and they can't fix them or for some reason then they can actually dissolve it themselves and they um and actually after the the period I think anyone can dissolve it um then uh we've got um oh yeah actually anyone can that's a good point anyone can actually dissolve it which means we don't have to have the Odell doing that doing that Duty um it's actually a um uh and there's that uh we we discussing we haven't quite got there yet but we're

discussing whether there's like an incentive for people to dissolve um that's that's kind of in discussion at the moment around the rpip specs and that that sort of thing um so you're dissolving uh I have a big list in the in the protocol message I think that's basically basically it so yeah so the whole kind of like basically a lot of the MEAP stuff is in there for depositing is is in there so what what should Express sorry yeah well that sorry what one second the the um express Ticket allocation that's right so there's actually two cues um

there's a standard que and an Express que um uh you get these Express tickets so as a node new node operator you get two express tickets and that you can use that put you in the express queue which essentially moves first uh moves faster um and gets done first um and the um uh and then if you've also got a current mins um then you get um essentially two tickets per mini um so that you can uh migrate your um mini pools over as quickly as possible uh the other thing that's in there as well is the uh MEAP delegate upgrades so um as you know as changes happen to the to the mega pool

um those upgrades um kind of roll forward um uh and and people can upgrade them the delegates and that sort of thing so yeah that's all the stuff in in devet one I can go through what's in devet 2 in a sec if you want open to Fe first yeah maybe maybe let me just ask a question about devnet one and apologize been kind of behind on it and all I was able to do is just download the uh the package from curl uh you know and I guess uh well I got as far as maybe trying to install it and saw it was version 1.8 or something and then I was confused because my test net node was already on version two um but I but like what should we what should the node operators do with it if we've got a test net node do we still run it along with

our existing holisky do we have to wipe our test net node and install this one like how uh how how should we as node operators be downloading and and testing it what what do we need to do no I mean that's a good point the the version is actually 1.16 um 1.16 Dev um that and the dev is important um because it um includes the devet stuff um so what you can actually do you can actually have them side by side um if you want to uh you there's a few things you need to do to kind of like Get that to work and we can kind of provide some more information in the feedback thread if you want um but you

can actually get them working side by side particularly as if you've got a test net node so the devet and the test net are both hsky based right so they they work on the same chain it's just they have a different deployment right so um uh in in technical terms it's it's a different storage contract so um so the devet and and and the testnet are both on hsky um but you you'll need the two clients to you need two separate clients but you only need one set of you know execution clients and and um consensus clients so you can you can

actually run both of them on the same on the same machine um we can set up we can give you some um instructions on how to do that if you want um so that's that's that's kind of that I mean the difference between I don't know about the interaction between version two and 1.16 but that should be okay as well um uh but yeah that's that's how it works yeah I think that would be really good to have some kind of explain it to me like I'm five instructions because I know uh number of people in the community still keep a a test net node uh just to you know play around with these releases but trying to figure out how that works with the separate version would be good without them having to

totally resync heski or you know wipe wipe their existing uh you know real test net node uh to you know install the dev note I think that would be really good and um and then and then what do you want you want the node operators to actually the list of features that are in devet one you you know it would be beneficial to have node operators go through the command lines and interact with the contracts and you know try to use uh you know a skip the que ticket and try to use a get in the queue and exit out of the queue and just try to break the system right try to use it and use these features yeah that's that's exactly it we've already got some people um kind of like starting that as um at the moment um so yeah uh the list of all so there's

a feedback thread where everyone's kind of like chatting um what I might do is I might dump the uh the scope um in there as well so that you can kind of like see that um the idea yeah you go through the um the list of stuff that we've deployed test it out interact with it um I mean you can use other things around that as well if you want to um uh that that can be a good test although just bear in mind that things like Mega pool RPL staking and that sort of thing isn't in yet and things like uh reward distribution and capital distribution and all that sort of thing they're not

they're not done yet so so um so just bear bear in mind that it's it's kind of like a partial um uh you the partial features um so mainly stick to the stuff that is in the scope um in terms of like you know how many people like we don't need like hundreds of people but we but you know a good few people um working on it and and and kind of like testing it out um it will be really good um you know feedback is Al is is good the better the more refinements that we can um can do more refining uh we can do the better um because it then means that

it'll be easier for people later on um but yeah yeah generally um testing uh would be a really good um that I mean that's a that's a big big part of all this this thing is that if we're doing the testing earlier it means that you know we can we'll have fewer issu we have fewer issues but we also we better go live quicker as well it's kind of like the idea okay so a lot of lot of questions are coming in on this uh let me just take a couple of them here so Dr Dr D is asking about uh the fast tickets uh like can you explain that and how it works like so we like like like how's this going to work in like the real thing we

have existing mini mini pools we want to create a mega pool do we just get one two nodes like like how many how many tickets do we get can you explain the Fastpass system yeah sure so um basically uh yeah there are two there are two cues um and to get so there's a standard q and an Express Q to get into the express Q you need an Express Q to get okay um and uh the difference between the express q and the standard Que is that the um uh the express Q gets processed first um and it but it also

goes faster there's like a q rate so um it goes It goes faster um and also um yeah and then the standard queue gets gets kind of emptied so basically the sash Q gets emptied then the standard C gets emptied um in terms of the you know who gets tickets and all that sort of things so um every node operator gets like two um Express tickets um it's like the base provision um so even newly created node operators get two um Express tickets which means that they can deposit to validators and when they do it'll ask them whether they want to put it in the

standard queue or the express queue or do sorry it says do you want to use your one of your Express tickets and you say Yes um and then it will go into the express rather than the standard Q um so everyone gets the base provision I mean the these numbers are they're the initial values but that that is the probably what we're going with but um so you get two express tickets um as a node operator then you get um it's a bit complicated but essentially you get an express Ticket you you get two express tickets per mini pool um it's a bit more complicated because it actually takes bonded e into account

so for like 16 eth ones I think you you probably get more actually um it takes your bonded eth and divides it by four um so but for all intents and purposes if you if you've got an A E mini pool you're going to get two tickets right so um uh so the idea behind that is you can then um all of of your mini pools you can migrate using the express que so if you've if you've got a mini pool um um at the moment or on when we release that one um you will be able to um go into the express queue um you and and migrate at that point as well instead of the

standard Q so that the standard and express cues have kind of like two two purposes really the first one is a migration purpose so we want to try and make sure that the current node operators get get preferential treatment um over like new node operators um so that they can they can migrate their um their mini pools over to the MEAP pool to MEAP pools and validators um the other thing it does later on once that once that migration is kind of like happened or is dying down the express Q has this other purpose of um meaning that smaller node operators and kind of get slightly

preferential treatment to come in as opposed to larger node operators interesting yeah it's a it's I guess kind of a bit for me to wrap my head around and I'm kind of thinking to myself we could probably use an explainer on this one here I'm seeing kind of the trading uh Channel kind of light up a little bit as people are discussing this I don't see any specific question in there but uh yeah I think we could all benefit from a not only playing with it in the devet to experience it firsthand but I think a a little bit of an explainer to just kind of understand how that how that works because uh you know one of the things I think many note operators are thinking with the you know the eventual release of Saturn one and the introduction of

Mega pools it's going to be very uh beneficial for each node operator to transition from multiple mini Pooles into a single Mega pool and uh really understanding how that Q system works I think is going to be essential that would be an amazing Bounty I mean I've written it down for us to kind of like consider but um as I was writing it down it would probably be a good Bounty yeah fortunately I don't think I understand it clean enough in my head to explain it to somebody but uh maybe maybe we'll keep talking about it all the way through e Denver till it becomes really clear here maybe it looks like an understanding of

it maybe yeah yeah I mean all this information are in the r Pips um so you know we're just really working through the r Pips and uh and bringing those those to life um but you know um if you want to check that out it's actually rpip 59 deposit mechanics um I can post that in trading if you want unless somebody else that already hasn't yeah okay 59 59 would be good yeah there's so much to to read and comprehend okay let me let me ask another question then uh so thank you for corom me version 1.16 ddev uh so why why are we still working on uh 1.16 where's where is V2 everybody's waiting

for v2 here uh what's what's the sit on that that's a that's a great question Ken um the the the re the reason is because so with the whole V10 release we had to stay on 1.1 um because we we couldn't um we could deliver it to both V2 and V1 at the same time so there is there is going to be this this whole uh um um there is going to be like an overlapping period um and so what we're aiming to do now is so the transition to V2 has is started now so

we've been um porting stuff over to V2 um as we go um Saturn the some of the Saturn one stuff we've started doing this well and we we'll continue to to do that into V2 um the idea is that when we deliver devet 2 um it'll actually be in V2 not V1 so um there was just this like thing where we have to maintain we just had to it's it's because rolling out V2 it was kind of like a never a good time um so but we've kind of like drawn the line as saying that devet 2 is going to be the the the line that we

draw so uh patches is working on migrating the V10 uh reward Tre spec over to V2 that's like a big a big part of it um then what we'll do is there may well be kind of like two releases for v2 in the sense that um uh we will probably open it up to everyone to use um first uh but the Odell May well um May well do it a little bit slower um and that's because we just want to make sure that um you know all of the stuff in V10 um it still works with the the V2 stuff so um so there'll probably be two two two

releases essentially um two roll outs I should probably say it's the best way of saying it um so um so yeah so essentially this V2 um timeline is going to be the so V2 I think we're aiming um to deliver at the end of March um and so uh the idea is that we'll um move over the V1 stuff um well the devet one stuff into V2 um and then we can um we can launch V2 okay let me let me see if I get this straight too many there's too many V's there's too many V's I was gonna say the same thing okay so

let me see let me see if I understood this it took me a second I could have it totally wrong then okay so eth eth Denver is coming up here uh into February uh at some point uh the next hard Fork happens right uh pectra and we have to have the current clients for pectra and are those going to be released on for mainnet are those going to be released in a another update for version one or will the pectra compatible version of Rocket pole mainnet be V2 so I'm not 100% sure because um uh it it kind of depends on the timing um but

uh ideally it would be in V2 but um it depends on the timing of like Petra yeah would it would I guess the most ideal scenario and I don't know if everything lines up the Stars a line up but it would be great to be on V2 with clients that are pectra compatible and then also have V2 have the most recent version of the tree generation tool which is V10 correct yeah and uh I'm a little behind in my crypto Twitter but have they announced the data pectra I saw that like nether mine has a pectra compatible client so they must have some hard Fork date or

time stamp in there right yeah I mean the the the clients are not they're not essential for like the V2 launch I mean we can we can do it we can put it into V1 and then put it into V2 like client updates not not necessarily um the big thing for us to move to V2 I mean it would be clean it'll be it'll be nice and clean if we could say that um uh that you know you should be on for the hard Fork you should be on V2 um that would mean that I mean most people would upgrade probably a lot quicker than they would usually um but it's not it's not necessary we not not

necessarily tying those two things together yeah no I I get that I was just wishful thinking here it's getting hard to figure out that okay and then and then let me see if I understood you a little bit that the ideal is is that we would actually launch version two smart node on mainnet first and then uh for the devet testing eventually version two will be will be tested there but right now at least devet one's back on version 1.16 Dev yeah and thanks Lee I see he said that

uh they decided that uh uh the pectra testing will happen on holisky on February 26th and uh and then sapoia on March 5th but no no main net so I guess if we're going to try to try to launch pectra with V2 we've got to accelerate that a little bit huh um no I mean that's probably every end of March um so it depends uh it depends on how far after like it might actually it might actually be good timing um because if if sapoia is um beginning of March

then mayet may well be end of March um so it could be it could be good timing it might not be so we we we'll see um that's not far off okay okay yeah definitely keep us keep us surprised of that certainly my hope the commands are slightly different between V2 and V1 if you haven't noticed then I get confused it's the one command to run all the time um but let me let me ask about uh let me ask about uh audits here there's a question that was in the channel uh you know asking for pre- questions for today and one of those had mentioned that you know audits in the past had always been a little bit of a roadblock or at least a hurdle that we would wait at the very end and then do a

do a an AIT and we'd have to wait for the Audits and you had hinted a little bit about doing rolling audits like auditing part of the code like after we do the devet one testing are there any updates with uh audits for Saturn one yeah I think I'm not sure I've ra that um a little while ago so yes so no so um we wanted to get kind of at least DEET one um out the way we may want to get a bit of too out the way as well mainly because uh in in what we want to know is uh we want to have kind of good idea that we're targeting the right sort of

timing um we will start reaching out to audit Auditors now um to um to discuss what the options are and the the timing and that sort of thing um but um they may not start until like devet 3 um on maybe maybe DEET 4 but probably earliest DEET 3 um but I we will kind of like talk to them um to see what they think is a good uh is a good plan for that sort of rolling um audit process okay the answer basic basic the

the answer is we'll we'll be reaching out to them very soon excellent excellent I'm kind of keeping an eye on trading here but uh I'd certain like to invite anybody that has questions this was at least all the uh the prescripted questions we had from the uh the the the thread or the the channel the rad in the trading channel here about this but I invite anybody to either come up on stage here on mute or ask the question and in trading if anybody has any other questions over any of the topics we talked about for langers seems like trading is still still

talking quite a bit about the queuing system and I I guess one other question on the queuing and maybe you mention it is um you know one of the one of the challenges right now I mean I guess multiple challenges One Challenge is is we need M much more our e mentors out there right we have to increase the uh the minting of our e uh but the other one is uh I think people have been hes hant to join the queue right now because it's sort of a one-way Journey right like if you get on the Queue it's uh I forget how long it is maybe 500 validators long or something to that to that point here um you know you're kind of taking a a gamble about how long it will take to get to the front of the queue right is that is that you know I

think right now it's been taking a you know maybe a month or two but hey you know past performance is an indicative of future performance it could take longer could take shorter right you don't know uh but I guess what in the new uh Mega pool um the Saturn One Design it's possible or am I incorrect here is it possible for a node operator to voluntarily exit the queue if you get tired of waiting on line so I have been talking about this quite a bit internally um with c um so the current Q is separate from the other cues so the the current so actually what will happen is the the current queue will get processed first um uh

so uh so it'll actually it'll actually go kind of like current Q Express Q standard Q um and the the idea there obviously is that we want people to want to process that queue um but uh it does mean we have to get through those um uh that Quee um one of the things I'm kind of like probably going to raise with the community is at what point should we should we consider um kind of um stopping deposits at some point um you know whether that is closer to kind of like sa one launch or whether it's you

know a little bit earlier or something like that um maybe we should consider um kind of like um pausing deposits on that queue um I'm not thrilled about that idea um but I think it might be good as we get closer to um to Saturn and to kind of like do that um yeah I mean I think a lot of it as you said it does rely on R demand which there a whole bunch of stuff going on with RF demand so obviously the discount and doesn't help but that is kind of gradually well that is kind of like being addressed in the short term with the uh with the exit AR stuff and also like the BD stuff all the

BD stuff and the um R growth incubator things um we um so that's so that's I lost track now but that that's on the kind of like the AR and demand side we do need to fix we do need to fix this kind of like withdrawal stuff though um because um we don't really want a dpeg like we've kind of had recently um to kind of happen again the exit AR might give us enough but it might not um and I know there's there rips kind of like being drawn up to um to kind of like help with having

providing some exit liquidity for um for ar e holders as a buffer to make sure that we um uh we don't get into that kind of like dpeg situation again um so yeah so and and then there's the the kind of discussion around whether we should exit node operators and that sort of stuff so um you know there there's a whole heap of this kind of like short-term medium-term and long-term Solutions um for the kind of like R situation the r situation means that um there's there is less demand but that should improve once that situation is um has been resolved um yes so but I do I

do think that um we need to have a talk about whether we shut down the the Queue at some point um and that sort of thing yeah lots lots to unwind in there uh and maybe this could be some topics for future calls but uh let me let me see if I if I understood uh what you're saying on the que and I would just want to put a pin in the in the uh kind of forced exiting to maintain the market price or the peg of of our e but uh on the on the Q thing so my understanding you to say there's there's really three cues there's the current queue right and then I guess post Saturn when you launch Saturn then there will be two new cues an Express Q which we're all going to have to read that rpip to understand how

many tickets we get for the express q and then a um a uh non-express Q I don't know what we're going to call it the standard queue um you know and so we have to understand those new cues but but those are going to be separate from the existing queue right right and the existing queue we can't exit from and so the question is what to do with the validators in there do we do do you close do you close deposits on there and you mentioned there were some downsides for that I'd be I'd be curious to know what those downsides are and do we try to get that existing Q as close to zero ahead of the launch to Saturn so you really only have two Q's post Saturn like what like explain this to me a

little bit more I mean I guess this is the first time we're thinking about it I know you probably been thinking about it about a while but what what are the downsides why why don't we just stop deposits it's we got a large large capacity built up already um yeah I mean the only real downside is uh that we can't accept deposits like that's uh so which is which may well be which may well be fine like um it does feel like um I don't necessarily want us to be a say that you know um the pool is closed for no for node staking at the

moment do you know what I mean I it would be better if we could work around that but if that's what we have to do then that's what we have to do um the other the other downside is that so although I don't think this is this necessarily works out um but um when when you when you deposit into on the um the queue um you actually progress the people at the front so we we would take we taking that away as well um but then obviously you're taking away from the front but then you're still growing the queue so that doesn't work out I don't I don't think that really works out anyway so yeah that's what I'm uh that's the

discussion that I want people to have is to um figure out where we do close the um node staking at some point or disable node staking at some point or pause it actually is probably the best way to say pausing node staking so that we can clear some of that queue um the other complication though is that we do have the discount so we kind of have to deal with the discount first and then start progressing the queue so it in that essence you know that lends itself more to um uh pausing the queue as well um so yeah that's that's that's about the key yeah you know it's it's it's interesting and I I I think I would be

favor of pausing the the the queue right or pausing deposits right no node operator deposits because you know there's still already a huge builtup capacity for those that are in the node and we still have a very large deposit pull for AR so people could still mint directly on the protocol r e and surprisingly uh you know I I would have thought everybody wanting our eth right now would buy it at the market I think uh I looked earlier today and it was like a0 five% point you know half of a percent discount on market prices over over the you know the true eth r eth value um you know but surprisingly a lot of people St mint and uh you know I I didn't know how that was I thought maybe

our front end was always pointing them to the lowest price but you know the queue was advancing I mean there were still deposits going in the deposit queue so I didn't know why people were still uh still doing maybe I was missing something yeah I mean so I think actually our front end at the moment uh always deposits um that was mainly because uh we had this whole thing where um people were getting sniped um and so we disabled um disabled the secondary Market option so people always deposit but we have been looking at integrating cow swap um and that we've got a prototype as I said

I mentioned before we've got a prototype up at the moment um that's on my now that devet one's out the door that's on my list to basically lock down whether we go forward with that prototype um or whether we um we hold off obviously what that means is people from our website point of view will while there's a discount will always go to the secondary Market which I think is good um it's a trade-off everything's a trade-off but um it's good in the sense that um it means there's now there's then bu pressure for um the um R so hope it should get the the

peg back quicker um but it does mean that we until the the peg has gone a bit closer they'll go to the secondary Market rather than go to the protocol itself yeah yeah I like that idea because if if people are you know investing into AR it it would it benefits everybody in the re that benefits just the protocol in general if they bring the the market price back to you know what I'll call true price right or you know the protocol price um so I I definitely like that ideal of it you know buying buying at the discount to bring it back online as much as uh you know I lose my reverse ARB opportunity but uh you know it's

what's good for the protocol but um but then yeah but then yeah even with the pool the node operator deposit pool paused uh they could still mint re let's say it goes back on to Peg and uh you know they'd still mint it it would still process the queue the you know the hundreds of node operators that are in the queue already and then even once it um uh once it kind of um you know consumes those then we still have the 18,000 eth uh limit to the deposit PLL right I know that's unstaked eth probably not efficient but you know it would build up a capacity especially ahead of Saturn one because we're going to just have so much more node operator capacity with mega poles than mini poles yeah yeah that's right

um so yeah there's there are a few kind of in the air that we need to just nail down um over the next uh couple of weeks to make sure that we're on the right track excellent excellent um well there I don't see any any questions in here lots of lots of chatting and trading here but anyone else have questions or lingers is there anything that we haven't covered on today's call that you feel is important that we should mention them with the community uh btcs

oh yeah I think there's a couple of last minute questions in the thread can one about um the communication that we've had with btcs okay yeah sorry I missed that one but go for it what is btcs uh btcs are actually a NASDAQ based um company so they're a public company um and they are a rocket Bol node operator um the idea is they they're moving a lot of their stuff over um to Rocket pool um so we we can expect them to kind of like deposit when it's when there's probably less of a que um but you know they'll

they'll be depositing more um in terms of uh so the other kind of like thing that they do is they actually run like a relay so we're working with them to um definit one is kind of keeping us busy but we are working on um integrating their relay their relay is actually like a kind of like a hyper compliance relay and because they're a public company that they um um they do like a hyper compliance kind of like relay um so uh that's what they've been uh so we're looking at integrating that into the um protocol or sorry into the smart node um and um um in terms of like the

communication we've got some really good communication with them um we're actually catching up with them in Denver so they will be in Denver so we're going to catch up with them uh in Denver um and yeah was really so um in terms of like that was one of the ones where they reached out to us but then um they already knew a fair amount about rocket pool um and then we kind of like uh just help them on board essentially as a node operator um so we answered like a whole heap of questions that they had um they uh from a like a they got all of our stuff um you know they all

went went through like their legal um and all of that sort of thing um uh and their their compliance and and finance departments and all of that sort of stuff so um they did all that kind of like their end and we had kind of shot them back answers so they could get all of that information to their their teams um and then um yeah and then we kind of like technically helped them a little bit um and then they they they kind of came on board but they to be honest I like I I asked them you know how they felt about the whole the whole process and they absolutely loved it like the I think I just I do think the smart node you know that helps a lot um from the from a technical perspective that a fact that it's it's super easy but they found

like documentation and that stuff was really good um so yeah I mean they they were very happy with the kind of like on boarding process um and now they're they're very comfortable staking eth with us so so that's really awesome I am um going to talk to them a bit more about liquid staking they um they've kind of ruled out liquid staking um at the moment but I do believe that the kind of the legal side of things things are changing a lot um and uh that it may well open up some doors uh in terms of them accessing liquid staking

and and that sort of thing as well it might be a bit slower um but um things are definitely moving in terms of like the legal side of things um so yeah that that that could help us you know within the next few months or year or whatever um in terms of getting publicly companies or institutions on board with liquid staking okay and then just a quick Time Track you still have some time to hang on I see a couple more questions coming in okay uh yes I mean technically I've got um the the stand up um but we can probably I can say for a little bit if you want yeah well let me let me try to get these in uh one question I see here

that was something you mentioned about uh you know maintaining the uh the protocol price of our e right you know that's most healthy when the price of our e is is is very close to the actual kind of calculated price that uh uh that it mints at right you know we can call that being on Peg or whatever the word is we want to use for that um and you know you mentioned about changing the front end so that way it you know if there's a discount it directs buyers to buy from there and same thing I guess if if they go to swap back out of it if there's a premium it would it would swap back out and try to return that value to our e folders right to uh you know make it an attractive product um but you also mentioned about talking a little bit

about you know well what happens uh if that's not enough right and to incentivize node operators to do a a reverse ARB right we've number of people have successfully done that here with um uh you know Troopers uh script right and uh you know brought the peg down from about a 1% discount to a uh to a five you know a half a percent discount it's still there but you know has there has there been talk or were you alluding to talk about you know using in post pectra some type of um uh you know some type of uh execution layer initiated withdraw system to you know kind of have the protocol ensure uh liquidity in the in the exit pool or the the arth pool or

did I Mis so I think there's there's uh it's still a bit in flux but I think the um the thoughts around it at the moment are um so first of all let's talk about the exit OB stuff so um with the exit OB um thing that that is really powerful um and so uh we are um I've been kind of talking to Trooper a little bit about he he's he's Keen sorry he's ke to make that um an add on to the um to the smart node set um and

so um we're going to support him as much as possible um with that um I spoken to Dave and it looks like we should be able to do an audit on the the contract um side of things as well to make that kind of you know as as solid as possible or to in engender a lot of confidence uh in it so that as many people basically we want as many people to use it as possible um so that we're we have that market mechanism to bring the peg back so that's that's kind of like one thing um the the next thing is um there's definitely I think Val is um putting together an rpip on um re

withdrawal liquidity so the idea behind that um and I think this is the latest anyway I haven't haven't checked in for a week or so um but I think the latest is that ar e deposits um what they'll actually do is they'll actually go um they'll actually fill up a withdrawal buffer first so um so probably another q it's it's Q's all the way down um but so the re um this isn't actually a q it's just a a pool of of withdrawal liquidity but essentially our deposits will go into this um withdrawal liquidity first um until it hits a certain um threshold um

and then once it goes over that threshold um essentially it's filled up the withdrawal liquidity um uh it will uh then be everything above that will then be deposited into the umit port um so A35 used said uh is there is a buffer but the the problem with that buffer um I think is the is the fact that it gets not um get arbed so that's that's um that's actually yield that's coming back I think this this adds anyway I can

like talk through it a little bit more um I need to um get a bit more across it but that was kind of like the idea so to have another buffer to try to bring the um bring the peg back so that's kind of like the medium term um and then uh so that's actually like Saturn with Saturn one probably and likely to be released with Saturn one and then the the the last one is then almost uh basically forced exits that's something that you know we definitely need to talk about um a lot more um I am I think um NOA kind of likes to this as well but you know there should be these other

mechanisms and then that should be the last last mechanism um so yeah so that's that's kind of um where we're at is hopefully there's there's two good mechanisms there's the exit AR and the just withdrawal liquidity to bring the the peg back um and if both of those kind of like fail then we've got a fou safe which is kind of um essentially exiting validators um ideally we we don't we don't use that third one as much but again all of this stuff we need to kind of like talk through um the r liquidity and withraw stuff is being written up as an rpip so I'm sure that we should be able to get that out to the community soon and v v is working on that so get that out to the community so that um

people can come like see what the the idea of that is um and I know there's a lot of discussion around the the the other one um I'm not sure whether it's actually been formalized but hasn't been formalized I think and so you know there's some discussion a lot of discussion about that as well yeah know perfect thank you for sharing that I've heard uh you know little bits bits here and there and uh you know boy I thought I was keeping a breast of this community but there's there's a lot going on so I really appreciate you kind of taking the time to explain that and uh maybe we can explore that in some uh some future Community calls uh let let me ask one last question here from samis and then maybe MAV you could just uh uh you know tell us what what events we have coming

up because I know there's a couple of them here but the question from Samus here I want to stick in here because he's been waiting patiently is uh is the team participating in the star campaign or contacting any of the large Dow or treasuries or is the star or is the star campaign happening completely independent from the team so the star campaign I think is really specifically to engage the community around uh around the the Outreach stuff so we're not necessarily directly so we we will probably participate in it but we won't but the idea is it is kind of separate so it is kind of independent um one thing that we will probably use the star

campaign for is and we actually we' we've kind of started doing this as well um is the star campaign is actually quite good for uh sweetening deals and so May well use that to sweeten deals so we will participate in the star campaign to a certain degree um but it is independent because I think mainly because it is a community initiative to get community engagement around Outreach and all that sort of stuff so um and we don't necessarily Want To Tread on that those toes too much um but at the same time um we also want to you know progress things as well so um we'll see how that kind of unfolds in terms of how much take off

and all of that sort of thing um we will definitely be using the star and as said we will definitely be using the star initiative um but we um we won't be necessarily driving it there'll be some crossover in terms of will obviously be monitoring or monitoring is probably not the right word but um definitely have um be aware of what's going on in that that space um so that he doesn't step on any toes um but yeah we'll probably be more participant rather than driving yeah perfect perfect um and then M if you want to give us a kind of a a look ahead to see what we've got coming up with future rocket pool related

calls yeah there's two events in the event section here in Discord for Community calls not rocket Community calls but related Community calls so the first one we have is later today today tomorrow morning depending on your time zone it's about 16 hours or so from now and that is one of the eth Staker Community calls and that will be about the rescue node and we feature uh I believe it's um patches Ken and popes I'm not sure if there's anyone else from the community going to be on but certainly the usual East Staker crew will be and then next week we have an interesting one uh calling

out the Aztec Community call so you might be aware of Aztec they are a um privacy focused protocol and this is apparently an opportunity that rocketball node operators that already have hardware and expertise may be able to also participate in um the Aztec Network so if that sounds like you head over to their call I believe it's a little bit different to most Community calls in that the link and the Discord event will take you to a place where you can sign up and um that will allow you to access the call but something that the node operators may be interested in yeah excellent thanks thanks thanks M

for sharing that and yeah it sounds pretty interesting I know a little bit of the Aztec that uh there might be an opportunity for node operators to become part of their decentralized sequencer set so um you know I highly encourage people uh to um to listen into that it could be uh could be the future of l2s also um if you uh on the defi side of things with ar there's been an update from liquid a few hours ago I've shared it a couple times in trading and um we'll probably do a retweet or repost on X at some point but um they have a potential issue affecting their stability pools on the V2 release so if

you have a position open might be worth um heading over to check that out you can um see more on their X account good to know all right any any other things here as we start to wrap up the call either from langers or MAV no I think we've we've covered lots of stuff so awesome thank you Ken well I for one yeah I for one really appreciate the time you have and I think it's great that we've got kind of these Focus just uh Community calls with lots of questions that are there and uh I see langers you already sent the message out

Kane was in trading while while you were talking here and uh I think everybody really loved to uh chat with him it's been a long time since we've uh just chatted with the team member so keep that up we'll do thank all right everyone have a great day he everybody talk soon