Stakehouse enables users to start validator staking with the Ethereum Deposit Contract in 60 seconds or less and extends this sense of easiness into the Stakehouse Monitoring tool. The Stakehouse Monitoring tool uses verifiable on-chain metrics from the consensus layer, presenting key indicators to provide a holistic view of indexes and validator performance. Think of it as Forta but for the Consensus layer.
The fundamental principle of Stakehouse Monitoring architecture is based on the Causal Effect, measuring the correlation between staked ETH balance in the Consensus layer and the related Stakehouse contract state in the Execution layer.
Further, causality and correlation are defined in multiple levels as rules and invariants in the smart contract, to register its relative outcome on issued ERC20 tokens for a validator liquid debt position (known as a KNOT), which is a restaked validator debt balance against the staked ETH on the Consensus layer. A KNOT has a unique ID known as a BLS public key and is exposed on the execution layer in a manner commonly referred to as liquid staking derivative (LSD) in Ethereum.
An ETL (extract, transform, load) layer is used to fetch and curate the Ethereum validator historical data that is mapped to the stakehouse contract on the Execution layer. This dataset is queriable and programmable for developing additional strategies around validator performance metrics, available for Ethereum protocols and market actors to utilize it for stake yield correlation between changes in the Consensus layer and the Execution layer validator states on API endpoints. Some properties listed below are fetched for every finalized consensus layer epoch:
- Validator Effective balance
- Staked yield: accrued ETH from validation
- Reduction of effective balance from induction balance
- Isolating unknown top-ups from reported top-ups via stakehouse
- Debt positions active balance on Stakehouse contract
- LSD network health factor from payoff rate
- Validator node runner health factor from SLOT balance.
Stakehouse Monitoring enables stakeholders and end-users to track the performance of individual validator indexes. With this tool, users can monitor individual indexes with detailed validator-level insights and compare performance against other indexes. Monitoring presents an in-depth analysis of indexes and validators using on-chain data and a non-governance, decentralized dashboard.
Currently, the monitoring tool consists of a leaderboard that tracks the performance of validator indexes based on factors such as staking yield and dETH minted.