Lido x Rated API grant proposal

[eliasimos]

Author: @eliasimos | Aug 22, 2022

Useful resources

Website: rated.network
Documentation: rated.gitbook.io/rated-network-v0
Discord: discord.com/invite/GCUfk8ryJS
Github: github.com/rated-network
Twitter: twitter.com/ratedw3b
Mirror: mirror.xyz/ratedw3b.eth

About Rated

Rated is building reputation for machines.

Rated offers a solution to the poor contextualization of validator quality problem. This solution is centered around reputation scores for machines and their operators, starting with the Ethereum Beacon Chain. We seek to embed a large swathe of available information from all layers of a given network, and compress it in an easily legible and generalizable reputation score that can act as an input to human workflows but most importantly, machines (e.g. an API that acts as an input to insurance or token Smart Contracts).

What’s next in the Rated feature set

Over the coming weeks we will be releasing a bunch of relevant features on the front-end and API layer of Rated with varying degrees of access freedom; these include:

• Support for Prater (and Goerli post merge)
• Execution layer rewards contextualization, including:
  • Priority fees (earned and missed)
  • MEV to validator (earned and missed)
  • Total value missed if missed block
  • MEV classification (types)
  • +++

Operationalizing the proposal & scope of work

In the table below, we outline the scope of work broken down by activity centers and deliverables.

For the consideration of all below items, from a functional standpoint, we will develop the ability to define the query for time periods between “blocks” and “datetime”, additional to the ability to define “days since beacon chain launch” that is currently available.

Access and ongoing support relating to all features outlined in the table below is timeboxed to 6mos after delivery of the full scope of the proposal. The goal here is to align the expiry of this scope with the expiry of Phase I of the Lido x Rated grant proposal.

The scope of work and deliverables are outlined in the table below.

Access to all other net new features of the Rated API (execution layer metrics, flashbots api data etc) will still be made available to Lido. However, unlike to the items on the table below, there will be no guarantee that we will provide support on these or that they will not be made rate limited (or wholly unavailable) for public consumption as we gear up to launch Rated v1.

Fulfillment

The proposed grant has been priced at an aggregate value of 35k USD, payable in a mix of LDO and USDC, and approved by the LEGO council on the 20th of August 2022.

Let’s Rate!

[Izzy]

Just chiming in to confirm that this grant was indeed presented to LEGO prior to being posted on the forums so that it could be fine-tuned and that it was approved by the LEGO Council on Aug 20th.

[McNut]

Been following along on twitter and am excited to see Rated here at Lido. This is a key feature for Lido and I look forward to seeing the work that results.

[eliasimos]

Hey everybody!

Dropping back in to close the loop here; all deliverables have been completed since early November and in testing for the past 5 weeks. On our part the scope looks complete, so if LEGO confirms the final stretch to close is 2/3 of the grant value to be transferred to ratedw3b.eth in USDC as per the original agreement.

For reference, this is the kick-off transfer (here) of 1/3 of the grants value in LDO (at the rate of 14-day moving average of LDO/USD closings, dating backwards from the date of approval, referenced from Coingecko).

[Alex_L]

@eliasimos

rated.network

@eliasimos thank you for continuous support and development of the rated.network !

Remaining part of the grant is sent as per initial terms of the proposal.

[eliasimos]

Confirming receipt. Thank you @Alex_L and team, in turn, for your continued support!! We hope that our work will continue to add value to the Lido effort for a long time to come.