In the dynamic world of cryptocurrency, the role of individual participants often gets overshadowed by larger entities. However, Smoothly Protocol, a notable player in the MEV protocol domain, is changing this narrative through its innovative Gitcoin campaign, designed to enhance the rewards for solo stakers in the Ethereum ecosystem.
Solo stakers, the backbone of Ethereum’s decentralization ethos, have long faced an uphill battle. Despite their crucial role in maintaining the network’s security and integrity, they often struggle with inadequate economic incentives compared to their larger counterparts. This imbalance is where Smoothly Protocol steps in, aiming to level the playing field.
Kodys.eth, the founder of Smoothly, recently unveiled the Social Layer Incentives for DEcentralization (SLIDE) campaign. This initiative seeks to gather resources to distribute among solo stakers, acknowledging their pivotal role in sustaining Ethereum’s decentralized nature. The plan is to accumulate donations and rewards from block proposals, funneling them into a ‘smoothing pool.’ This pool, active in Gitcoin Grants Round 19, will receive funds upon the mainnet launch, earmarked for distribution to solo stakers every three weeks.
The plight of solo stakers, forming a mere 2.5% of Ethereum validators, underscores the challenges they face. Recognizing this, Smoothly is not only reaching out for donations within the Ethereum community but also seeking to attract the attention of those passionate about public goods. This inclusive approach aims to build a support network for solo stakers, ensuring they are rewarded for their contributions to network security and decentralization.
Smoothly’s initiative is not just about financial rewards; it’s a call to action for preserving the decentralized, credible, and censorship-resistant qualities of Ethereum. By incentivizing solo staking, SLIDE aims to encourage individuals to contribute to Ethereum’s diversity and resilience. The program is open to all, allowing solo stakers and small entities to onboard seamlessly. However, for larger staking entities, the transition may not be as straightforward due to the potential infrastructural changes required.
The focus of Smoothly’s campaign is clear: it’s about creating a more inclusive and equitable Ethereum ecosystem. By empowering solo stakers, Smoothly is not just enhancing their individual experiences but also strengthening the entire network. The campaign reflects a broader commitment to Ethereum’s core values and highlights the importance of community-driven efforts in the blockchain space.
In conclusion, Smoothly’s Gitcoin campaign is more than just a funding initiative; it’s a step towards a more inclusive and resilient Ethereum network. By supporting solo stakers, Smoothly is helping to maintain Ethereum’s decentralized ethos and encouraging a diverse range of participants to contribute to its growth and stability. This effort underscores the potential of collaborative, community-focused approaches in shaping the future of blockchain technology and cryptocurrency.