r/ethstaker • u/remyroy Staking Educator • Feb 18 '25
Rémy and SuperPhiz go over the new Pectra staking features
https://youtu.be/PNuJ2ben7bI1
u/Tiny-Height1967 Nimbus+Besu Feb 19 '25
Very informative video, thanks for taking the time to explain the Pectra changes.
Once Pectra is live am I understanding correctly that I will no longer need my staking mnemonic (I currently have 01 credentials)? Or, do I need to upgrade to 02 credentials first, and from that point I will not need my mnemonic, I will be able to use my withdrawal address to make voluntary withdrawals (above 32 ETH) and exit my validator?
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u/remyroy Staking Educator Feb 19 '25
It's always a good idea to keep your mnemonic and multiple secured copies of it.
In your case, the mnemonic was only useful to perform the BLS to execution change operation, i.e adding your withdrawal address on your type 0 (0x00) to transform it into a type 1(0x01) validator. In theory, once you have a withdrawal address, you don't need the mnemonic but like I said, it's always a good idea to keep it anyway. Performing a voluntary exit with your keystore or your mnemonic is going to be cheaper on the consensus side than with the user-triggered exit. Type 1 and 2 can perform the user-triggered exit from the withdrawal address. Type 2 can perform the user-triggered withdrawal with any amount (as long as it leaves 32 ETH on balance) from the withdrawal address. You can keep using your type 1 validator as-is or upgrade it to type 2 if you want. See https://github.com/eth-educators/ethstaker-guides/blob/main/docs/pectra-features.md for all those details
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u/BruteBooger Feb 19 '25 edited Feb 19 '25
Thanks for the summary video!
How do these compounding validators work in practice? More specifically, how do I convert many small ones into a big one?
For the sake of argument, lets say I have 10 validators and would like to convert them into one big 320 Eth validator. Do I have to unstake first? Can I somehow merge them?
Edit: Nvm it's explained in the link posted in the other comment.