archana ⟠ on Warpcast

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https://ethereum.org

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Simon Dorfman pfp

Any Americans want to learn how to use their retirement money to fund a solo Ethereum validator node? I wrote an article documenting my journey: https://www.yamlike.com/archive/fund-solo-ethereum-validator-node-with-ira/

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Thomas pfp

@aviationdoctor.eth

Please, for the love of all that’s holy, don’t suggest Lido as an alternative to solo staking. Lido is an economic attack on the Ethereum network, and newcomers won’t be aware of the harm that it does. At the very least, if you want to suggest LSTs, there are more decentralized alternatives.

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Simon Dorfman pfp

What LSTs would you recommend?

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Q🎩 pfp

Run a rEtH node, lower entry, promotes decentralization, easier than a full solo.

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Thomas pfp

@aviationdoctor.eth

They finally fixed the Oracle DAO, didn’t they? At one point it was a significant centralization vector too.

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Q🎩 pfp

I’m not sure if it’s implemented but I believe it is approved. Bit I don’t follow all that closely.

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Thomas pfp

@aviationdoctor.eth

That’s why I’m hesitant to recommend any LST. Unless one follows closely, it’s a big responsibility. I first learned about the oDAO long after RP was already being recommended by everyone as the decentralized alternative, only to find out it’s wasn’t (at least at that time). Plus the pointless RPL token

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Q🎩 pfp

That’s fair. The problem that I have with that is if a recommendation is not given, they WILL go with the biggest provider. If we wait for the perfect product, I’ll be too late. Imo, get them on the path, then transition once it’s developed. If they don’t change they wouldn’t have before either.

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Thomas pfp

@aviationdoctor.eth

I agree with that, and if I had written that article myself, I would have focused on the topic (solo staking), and perhaps written a whole separate article about the pros and cons of LSTs. What I don’t want to do is accept the shift in responsibility implied by the author when they ask me which LST *I* recommend.

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Thomas pfp

@aviationdoctor.eth

And to clarify why I seem so rigidly principled on this: I had been recommending RP unreservedly for a long time before I found out about the oDAO, and then felt like, while it was still a lesser threat than Lido’s permissioned cartel, it was still a misguided recommendation from my part.

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Simon Dorfman pfp

Thanks for that background. I’m genuinely curious to know more about what LSTs are out there. Maybe I can ask you my question in a different way: what LST(s) would you not *not* recommend? Like are there any you’ve heard of that sound interesting, even if you haven’t had a chance to research them fully?

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Thomas pfp

@aviationdoctor.eth

I’d definitely not recommend Lido, because them brazenly and unapologetically crossing 1/3 of staking is a centralization threat that runs counter to the permissionlessness of Ethereum. We might as well build Solana or Tron, and get better transactional efficiency if decentralization is no longer a shared objective.

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Thomas pfp

@aviationdoctor.eth

As for alternatives, I don’t recommend RocketPool either because of oDAO (NB: I understand this may have been fixed, I’m not up to speed) and the pointless RPL token economics. I don’t know enough about Stakewise, Stader, and others to have an informed opinion. It’d be interesting and useful to research them.

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archana ⟠ pfp

If @simondorfman or you have any questions about Stader, more than happy to help.

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