Celo validator roundup, August 2020
Does anyone even care about validators among this #DeFI craze?
Being a validator seems so early 2020 these days, as everyone seems to have shifted their day job to be a #DeFI farmer. But nonetheless, we bring you another monthly update for Celo network.
Checkout all our previous posts here: https://wotrust.us/. All new posts will be published through Substack.
Portion of locked and voting CELO continuous to increase, thus Target APY continuous to decrease, now at 5.85% APY. Any APY less than 50-100% seems like a rounding error these days, thus surely anyone who just cared about CELO APY would have already moved to greener pastures.
This was going to be very light update since throughout August there were almost no serious incidents for any of the validators. However, towards the end of the month we did see one major slash-able outage. It goes to show that you can have perfect uptime, until you don’t, as major outages in operations are defined by individual very unexpected scenarios that can happen as infrequently as once a year.
Since huge majority of groups had perfect uptime this month, we will only look at groups that had some issues and dig into one single bigger outage.
From stats alone, you might be wondering which group had such a massive outage and why isn’t it reflected in the stats as an outlier? The reason behind this discrepancy is because validator group that had largest outage is `cnstnt.xyz`, and since they are one of the larger groups (running three validators), their average score didn’t get impacted as much. Even though one of their validators had close to 2x slash-able sized outage (missing ~10k consecutive blocks), from actual scoring and voter rewards perspective, they still performed better than smaller groups that had less issues through out the month.
We believe this is actually a mistake in Celo protocol, and have submitted a proposal to make a small change for how groups epoch score is calculated for voter rewards: https://github.com/celo-org/celo-proposals/pull/42. If you like and agree with the proposal, please add your comment to it to show your support and we can aim to push the change with the next set of contract upgrades.
Key focus for next month for cLabs team and for validators will be to improve attestation completions. Attestation service is critical part of Celo’s unique identity protocol, and its reliability is critical to make ValoraApp successful.
Current completion rates are quite low and cLabs team is working hard to deploy improvements to the service. Starting from next month we will start to track and provide more data for attestation performance for all validator groups.
Percentage of incomplete attestations over a 24 hour time period over last week
There were many other exciting developments for Celo this month:
Celo is getting closer and closer to actual full launch, and we are looking forward to seeing its adoption and traction grow over next few months.