The goal of this proposal is to add 5 professional node operators to the tBTC Beta Staker program by delegating DAO-owned T.
tBTC currently relies on a permissioned group of node operators, referred to as “Beta Stakers”, to secure the wallets that contain the BTC that backs tBTC. These nodes are highly reliable, and stake a significant amount of T.
An increase in the number of Beta Staker nodes will improve system decentralization through an increase in the geographic dispersion of Beta-Stake operators, and the distribution of key shares created by the “Distributed Key Generation” (DKG) ceremony.
The goal of Part 1 of TIP-067 is to increase the Beta Staker set from 20 to 25 nodes, and T staked across the Beta Staker nodes by 150M T.
The tBTC development team will vet and select 5 professional node operators from applications via this forum to be added to the Beta Staker permissioned group. These nodes will be delegated T to their node from the DAO treasury.
New Beta Stakers will be required to run their respective nodes until the conclusion of the Beta Staker program, or for a minimum of 12 months, whichever is sooner. It is not possible to exit the Beta Staker program once added, which means that operators must continue to participate until the retirement of the program.
Operators of Beta Staker nodes are expected to be extremely responsive, especially in regards to upgrades requested by software contributors. Ideally, they should be able to upgrade their nodes within 24 hours of notification.
Operators of Beta Staker nodes must be technically capable. They are responsible for ensuring high availability (more than 96% uptime) and security of the node.
A Beta Staker node performs more computationally expensive operations (DKG, threshold signing, etc) compared to a standard Threshold node. To ensure a high level of service, a Beta Staker node requires a machine with:
- 4 CPUs
- 4 GB of RAM
- 1 GB of persistent disk space
- 80 Mbps of network bandwidth
- Linux OS
Additional documentation can be found here: https://docs.threshold.network/staking-and-running-a-node/tbtc-Beta Stakers-program
Threshold Network has two applications that operate on its security model: tBTC and TACo. Beta Stakers that choose to run an additional VPS for a TACo node with their delegation to receive an additional 25% payment.
Details on also running a TACo node, to receive 100% of the available remuneration, instead of 75%, can be found here: https://docs.threshold.network/staking-and-running-a-node/running-a-node/self-managed/pre-node-setup.
Eligibility requirements are strict due to the high uptime requirement, and only the best applicants will be selected.
- Have a demonstrable history of professional validator services.
- Submit a written application via this forum with the following details:
- Company name
- Company website
- Company description
- Country of operation
- Relevant experience
- Description of solution design
- Description of backup and security principals
- Will you participate with both tBTC & TACo? Y/N
- Do you commit to participating as a Beta Staker for a minimum of 12 months? Y/N
- Be familiar with Threshold Network and tBTC architecture.
The DAO will reimburse Ethereum transaction fees (in ETH) directly to the respective operator addresses on a monthly basis.
The DAO will delegate 30M T to each successful applicant. Successful operators will receive a $1,500 USD/month payment for participating in the Beta Staker program. If the provider chooses to run a TACo node in addition to tBTC, the monthly payment will be $2,000 USD/month.
- Payment terms are subject to nodes meeting the 96% uptime requirement in the month prior. Uptime below the minimum will result in forfeiture of that month’s payment.
- Payments will be made in T in accordance with the T/USD price at 10am UTC on the final day of the month, as reported by CoinGecko.
- Cost for the program will be covered by staking rewards generated from the delegated T.
- T rewards will be claimable by the Treasury Guild and distributed accordingly.
- Any excess T generated above the cost of the program will be burned.
- Nominations Period - December 13th - December 27th
- Candidate selection period - December 27th - January 3rd
- Technical setup and troubleshooting - January 3rd - January 17th
- Treasury Guild Delegation Execution - January 18th
- New Beta Stakers added incrementally - January 19th - onward