Info & updates about v1 withdrawals from veth2 & SharedStake v2

Oct 12

Steps taken towards tracking attacker and moving forward as a community


Sep 1

Exploit with 100E loss in sgETH contract

Medium article: https://medium.com/@chimera_defi/sharedstake-exploit-postmortem-sep-1-2023-50a85061d58c

Aug 30

Roughly ~10k ETH returned to users at 1.1 ETH / vETH2 token in batches

Jul 30

Jul 29

  • First batch of mainnet validator withdrawal key changes attempted

    • Roughly ~9-10hrs to receive ETH on EL

    • Roughly ~6hrs quoted on beaconcha.in to change keys

    • 311 validators prepared for exit with exit address set to sharedstake.eth

  • 630 ETH buffered into Withdrawals for vEth2

  • 743.71 sgETH buffered into Rollovers clearing the current Rollover demand

  • Next step is to initiate exits of the validators to satisfy remaining demand

  • Total vETH2 staked to demand at 1.1 redemption price:

    • Rollover : 676.58 => 744.24 sgETH

    • Withdrawals : 7288.3046 => 8017.13 ETH

  • UI

Jul 19


  • V2 + withdrawals launch article

  • H1 SGT payout


Jul 15

  • updated infra to prysm 4.0.7 w/ perf optimizations for larger clusters like ours

  • prep for AMA tomorrow

  • inbound leads from unsheth

Jul 12 2023

Website fixes:

  • fixed rollover displaying veth2

  • Added more user hints

  • Connect button refactors from wjakub landed

Plan post mainnet deploy / next steps:

In person events

  • ETHGlobal paris

Explore partnerships

  • SSV

  • Obol

  • Yearn

  • Curve - no inbound leads yet

  • Rocketpool

  • Liquidity pool with Frax

  • Zerion

  • Join wido

  • CDP providers?

  • Other liquidity pools?

Add phases

  • Phase 2 - Attribution - allow users to signal referral, front end, validator client preference etc

  • Distribute rewards to partners based on referral / front end source attribution

  • Add oSGT - options SGT which lets users spend ETH to acquire SGT at discount as rewards

  • veSGT v2 - add simplified single token staking veSGT

Explore comms

  • Medium article on v2

  • Twitter spaces w/ community

  • Spaces with other protocols

  • Threads account

  • Paid media via marketing multisig


  • Get market makers

    • Pyrcto?

    • BTCEX leads

  • List if free on any

  • Raise funds if not?

  • List targets

    • BTCEX

    • Bitzlato

    • others?

Jul 11 2023

  • We had 2 rounds of community calls on Discord and a thread to gather user feedback so far

Please try it out and let us know of any bugs or suggestions in Discord.

UI: here - make sure you're connected to goerli


  • Updates made to the UI based on user feedback:

    • Wrap pages for SgETH to wsgETh

    • Unwrap page for wsgETH to sgETH

    • Hints to the wrap page for Rollover users

    • More user hints on user balances so users can guess if the tx passed or not

    • Refactors

    • Bugfix on steps where deposit stayed incomplete on the completed page

    • Fixed site not loading on MM non-connected browsers / other browsers / mobile

    • Fix regression where users would still see the redeem button on rollover/withdraw even if there wasnt enough eth in the contracts

    • New desktop menu changes from WJakub

    • Cleaned up dashboard on landing page from WJakub

Note: Want to contribute or fix something? Awesome! Make sure to pull the v2-dev branch and target changes to it. https://github.com/SharedStake/SharedStake-ui/pull/146

Jul 7 2023 Update

SharedStake v2 RC2 is now available for public preview on Goerli:

Please try it out and let us know of any bugs or suggestions in Discord.

UI: here - make sure you're connected to goerli

If you deposited vETH2 in the first round you can now redeem for ETH or rollover into sgETH. Please test out the flow. Deposit, followed by a wait, followed by redeem will be the mainnet flow.

If you haven't tried out the rollover/withdraw flow yet you can still try! get Goerli vETH2 here #4-steps-to-try-contract

If you tried staking in RC1, try out wsgETH staking and unstaking. Period is 1 day to see rewards.

Successful Goerli testnet deposit!

Deposit tx: https://goerli.etherscan.io/tx/0x688ed39c6fbda86ae9faa12326e743d485d8b8a984f07667dd6aa13c63304920

Many updates and bug fixes landed:

  • wsgETH staking UI ✅

  • Goerli v2 testnet ETH deposit ✅

  • Let users get wsgETH, interest bearing staked eth directly from the website and receive rewards via it

  • Fixed wsgETH in/out calculation on frontend

  • Frontend cleanup and minor bug fixes

  • Contract bug fixes


  • Test out APY calculation on wsgETH (current epoch is 1 day, so takes a day to see rewards, mainnet will be ~1wk to validator activation queue time)

  • Test out validator exits on Goerli (This relies on the validator being activated which will take a day)

  • Let users test out the 2nd phase of withdrawals, redeeming their ETH or sgETH from the testnet contracts + any bug fixes

  • V2 + withdrawals launch article

  • H1 SGT payout


Jun 14 2023 update

Withdrawals, rollover and v2 stake/unstake UI testing live on Goerli.


  • Community test and patches/fixes

  • wsgETH staking UI

  • Old Goerli validator exits

  • Goerli v2 validator batch deposits

  • mainnet

Jun 8 2023 update

Withdrawals timeline


  • v2 live on goerli

  • rollover contract for veth2 to sgETH (v2) built

  • v2 rc1 built

  • withdrawals UI in progress

It takes time to withdraw ETH from the beacon chain.

Here's what we have left to do

  • V2 deploy - v2 goerli deploy live

  • Withdrawals and rollovers deploy

  • Withdrawals & Rollover UI

  • repeat on mainnet

Here's what we assume timelines and the process will look like once code is deployed on mainnet.

  • 1 wk - Users stake into the withdraw and rollover contracts to assess exit demand

  • Validator exits called

  • Variable - 1 wk - Validator ETH is exited into exit address. Depends on ETH beacon chain exit time

  • Users redeem and remaining users are counted into next epoch

Goerli testnet now live!! - May 24 2023

A new streamlined contract was written for withdrawals / redemptions of vETH2

Currently the test contract is deployed on Goerli for feedback and testing

Test contract on Goerli:



4 Steps to try contract:

Need Goerli ETH? Try one of the faucets above Faucets

  1. Approve the withdrawal contract to pull tokens

  1. Test the withdrawal contract https://goerli.etherscan.io/address/0x4db116ad5cca33ba5d2956dba80d56f27b6b2455#writeContract

    1. Click deposit, enter a test amount

    2. Click redeem to receive your ETH relative to vETH2 deposited

    3. Try withdraw to get your vETH2 back

  2. Return goerli test ETH to the contract

    1. Contract has limited gETH so to make sure others can try it too please send gETH back to the contract

    2. Click on metamask -> send -> paste contract address 0x4db116ad5cca33ba5d2956dba80d56f27b6b2455 -> enter amount -> send.

    3. Please make sure you are only doing this on Goerli

Last updated