Summary of Ethereum Shanghai Upgrade Updates

:briefcase:StaFi Ethereum Shanghai Upgrade Feature Testing Updates

The Shanghai upgrade we’ve all been waiting for is here, all thanks to our StaFi team working round the clock to keep every cog in the wheel running and the team has proudly stated that all developments were completed in March. April is game time as users get to enjoy not just the newly integrated Ethereum withdrawal feature but the updated features on the rETH validator app.

Update 1 - March 1st 2023

StaFi’s update agenda kicked off on the 1st of March, 2023 with full testing, optimization, and modification. That is:

• Full testing of Withdrawal Contract

The team ran through a meticulous of StaFi’s withdrawal contract; recently modified to support ETH redemption by users in order. Another utility of the withdrawal contract is enabling validators to execute event processing.

• Optimization of Distributor Contract:

The distributor contract was optimized to increase APR by cutting down on commission fees.

To support validator claims on major staked rewards and tokens, the StaFi team also implemented the Merkle Tree Proof of Reserves.

• Modification of Staking Deposit CLI:

To foster maximum efficiency, the team tweaked the CLI staking deposit to support single withdrawal credentials corresponding to as many validators as possible.

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Update 2 - March 9th 2023

By March 9th, StaFi’s update had taken another impressive turn with off-chain service statistics and API completed and related contracts optimized accordingly. Following internal tests, Front-end App UIUX saw thorough development and debugging of its basic functionality. But it doesn’t end there. The team finished this second phase by auditing Withdrawal Contract for safety and security.

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Update 3 - March 14th 2023

On March 14th, commission fees went as low as 5%, bagging the slot of lowest fee in the LSD market. This week also saw development and test runs on the withdrawal mechanism on rETH and ETH. These checks also included restaking, validator exit, and elimination of malevolent validators.

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Update 4 - March 24th 2023

StaFi Protocol continued its progressive steamroll down to March 24. And for this phase, the project saw an audit of its rETH Withdrawal Contract by Peckshield. This audit was conducted to further instil community trust in StaFi.

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Update 5 - March 31st 2023

With the first twin rounds of testing off the checklist, StaFi transitioned easily into the final phase of their update streak. In this round, StaFi successfully ran tests on withdrawal credentials in the deposit CLI tool on Zhejiang Testnet using the 0x01 method. What this means is that users can now withdraw their rETH to their preferred address.

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Update 6 - April 7th 2023

SfaFi has made a series of optimizations for the Mainnet upgrade including the validator exit election algorithm, implementing lighthouse API, segmented calculation of rewards, etc.

StaFi has also completed the audit of its Withdrawal Contract with BlockSecTeam, identifying and solving an issue, and ensuring the security of rETH Withdrawals.

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Update 7 - April 13th 2023

$rETH Withdrawal Is Approaching!

Congrats to Ethereum on the successful upgrade!

We’ve tested $rETH withdrawal functions on the Testnet and will bring it to the Mainnet to observe its status, data, operations, and interactions.

We will announce a launch time as testing progresses!

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Update 8 - April 19th 2023

$rETH Withdrawal Testing Progress

The Beacon network processed all messages on 17th April after completing the withdrawal credential rotation message signing on 14th April, making all StaFi Ethereum Validators use 0x01 withdrawal credentials!

Internal testing of $rETH Withdrawals on the Mainnet is currently being conducted.

Stay tuned as we move closer to StaFi $rETH withdrawals!

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