Skip to main content

FRENS is a single-validator-staking-pool as a service.

What does that mean?

  • Easily deploy your own staking pool and invite your frens.
  • Pool depositors recieve NFTs representing their stake in the pool.
  • This NFT allows them to claim their share of the staking rewards from the pool, and to retrieve their initial deposit once the pool has been exited.
  • The NFTs are transferable, so they can be sold on the open market if you need to exit your position quickly.

How does it work?

  • Navigate to the app and connect your wallet
  • Click on the "new pool" button.
  • Click "create pool" and sign the transaction in your wallet.
  • When the transaction confirms, you will be given a link, which you can distribute to your frens.
  • Follow the link to make your own contribution to the pool.
  • Once the pool is full, click "Setup Validator now".
  • You will be directed to generate your keys with Wagyu Key Gen using the pool address as the withdrawal address.

How do I use Waygu Key Gen?

  • Navigate to Waygu.
  • Download the version for your operating system (keys should be generated locally for security, preferably while your computer is offline).
  • Open the app and click "Create New Secret Recovery Phrase".
  • Select the correct network and click "OK"
  • Click "Create".
  • Write your reovery phrase don on paper, you will need this later. Do not screenshot, or store electronically.
  • Click "I'm Sure" (if you're sure).
  • Enter recovery phrase, click "Check".
  • Enter the pool address from the FRENS app as the withdrawal address, creae a password and click "Next".
  • Retype password and click "Next".
  • Select a folder to save your keys, click "Create".
  • Click close.

I have my validator keys, now what?

  • Return to your pool in the FRENS app.
  • Click "Next".
  • Drop or navigate to your deposit file created by Waygu (the name will be deposit_data_XXXXX.json).
  • Click "Set Deposit File" and sign the transaction.
  • Click "Deposit Eth to Beacon Chain" and sign the tansaction.
  • You have now deposited the 32 Eth to the beacon chain, and set the withdrawal address to th pool address. You will now be prompted to select 4 operators.

What is an operator?

  • Operators run validators as a service.
  • Using distributed validtor technology, your key is split, so you can give a key-share to each of four different operators.
  • 3 operators must agree in order to sign a block.
  • This makes it very difficult to get sashed, and as long as 3 of the 4 are online, your validator will run normally.

How do I choose my operators?

  • On the "select Your Oprators" page on the FRENS site, the 30 day performance of various operators is shown.
  • If you click on "details" it will take you to the SSV site, which will show more information for that operator.
  • Check the box next to the operators of your choice.
  • Click "Next".

What does it mean to split keyshare?

  • This takes the signing key for your validator and splits it into 4 parts for the 4 operators (like some kind of cryptographic magic).
  • Drop your keystore file (keystore-m_XXXXX.json) into the field, and click next.

What does register validator mean?

  • The operators must be paid for thier services.
  • This payment is made with SSV tokens.
  • If you don't have any SSV tokens, now is the time to buy them (or collect then from your FRENS).
  • Click "Allow Spending" and approve the transaction.
  • Click "Register Validator" and approve the transaction.
  • Congratulations your FRENS pool is complete!