eth2 Calculator (Main)
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Telegram: @eth2calculator
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Telegram: @StakeETH
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Hey Everyone! Welcome to the official eth2 Calculator. The purpose of this calculator is to increase transparency and discovery around the economics of eth2. This model is 100% open source so please make a copy and begin experimenting with it on your own. If you have any questions please DM me directly @StakeETH.Instructions
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Calculator Overview: The eth2 calculator is meant to be highly customizable and is suited for any validator wishing to run their own infrastructure through an at home computer or by using a VPS. Many assumptions can be made in this model about the state of the network at any given point in time. As a result, this tool is equally meant for protocol researchers and economists to test and push the limits of the eth2 spec. We hope that this tool brings about challenging questions and eventually EIP's. Please use this tool respectfully and remember eth2 is a beautful complex system and all outputs are assumptions of that system, not necessarily fact. The economics of eth2 are subject to a variety of variables, especially human behavior, which we know is highly unpredictable. Finally, if you feel the model needs additions or you would like to see something new that would benefit the masses pleae let us know and we can make additions. Safe calculating everyone!!
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Economic Primers
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1. Validators are required to stake 32 Eth to become a Validator
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1. eth2 is pure proof of stake (no delegation function). eth2 is designed to accommodate hundreds of thousands or even millions of validators; however results in the necessity to manage two key pairs per validator (32 ETH)
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Input vs Ouput: The variables that are colored blue mean they are key drivers of anticipated rewards at the network level and the validator level. These can be adjusted by the user at discretion to produce different outputs. As a result, the variables you see in grey are outputs (formulas) and should not be changed. For example, the price of ETH is auto updated from Coinbase but can be customized to a validators assumptions (which is why it is left in blue text). In addition, total supply is in grey but can be adjusted to your liking as well to simulate a Phase 2 state (advanced user metrics).
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2. Deposting ETH into the deposit contract is a one-way transaction and cannot be reverted
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3. All ETH + Rewards that are staked in the beacon chain cannot exit the system until Phase 1.5 (timelines currently unknown)
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4. Rewards are not received until the network reaches genesis (524,288 eth staked or 16,384 validators). As a result, the bootstrapping of Phase 0 will require alturistic validators to reach genesis.
Network Issaunce: One of the models outputs is to show the total ETH issuance on a daily and annual basis given a current state of the network (which is determined by the calculator user). It is imporant to note that this is imperfect given the dynamic nature of eth2 (as explained on the right) and the circulating supply of the model being fixed at 110MM. The network issuance charts should give users an undersatnding of how issuance changes with the amount of activate Validators that are participating in eth2.
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5. Rewards (- penalties) are transferred to validators every epoch (384 seconds = ~6.5 minutes)
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6. Rewards are calculated based on the state of the network upon epoch completion. As a result, the reward you expect to receive when being randomly selected to be a validator may be different than what a validator actually receives.
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Gross Validator Issuance vs Net Validator Issuance: For starters, all reward figures are annualized. The model and supporting graphs shows the validator what the gross issuance and net issuance is. Gross Issuance should be thought of as what eth2 spits out to a validator assuming no personal costs (Network Level Issuance), while Net Issaunce is what a validator receives after costs are applied (Network Level Issuance - costs of infrastructure). Finally the model assumes that all validators act honestly and does not include slashing.
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7. Rewards will be highly variable in eth2 by design and are best observed through a probabilistic simulation. As a result, you will only know exactly what your reward is once it is received.
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8. A Validator needs to be 'Active' on the previous epoch to receive rewards.
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Validator Cost Toggles: One of the primary requests of this model is to show validators what rewards look like after costs. As a result, the model allows users to toggle between different infrastructure set ups, which will change Validator Net Rewards. Validators have the option of using at home hardware or a monthly Cloud. Once a toggle has been chosen, validators can then get more granukar with their cost set ups (this should be pretty straight forward in the model).
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Resources
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1. Best eth2 Explainer
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2. eth2 Spec
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Validators Per Machine: Without a clear hardware spec, it is hard to know what the technical and financial risk threholds are for how many validators can be run on each machine. For the purpose of the model we assume 16 clients for the at home hardware user and 100 clients per machine for the VPS user. Please see comments in the next tab for more information on how Validtors can customize this thresholds. For reference, on a standard 4GB 8GB SSD Digital Ocean server, testnet validators are running 1,000+ validators without breaking a sweat but again validators must remember financial risk when making this decision as well as value is at risk.
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3. Ben E's Master Guide
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4. Prysmatic Labs
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5. Lighthouse (SigmaPrime)
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6. Alehtio eth2 Stats (Block Explorer)Sensitivity Analysis: Since there are so many sensitivity charts, leaving them on autoupdate every time the price of ETH changes will not accomodate everyone's machines or connections. As a result, you will find comments on certain sensitivity tables in the next tab that indicate where to rerun the what if's. Once the sensitivity charts are updated, the line graphs will update in lock step.
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7. eth2 Rewards & Penalties
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8. Casper FFG Explainer
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