Stake.link: Chainlink integrated liquid staking | Live Competition Kick-off

Summary

The video introduces the Stak link code Hawks contest, led by Karen, a software engineer at Cyphon, and Christian, the lead Solidity developer at Stak link. The contest, focused on auditing a liquid delegated staking platform for Chainlink, runs until October 17, with a $50,000 prize pool. Christian explains the key components of the platform, including staking pools, priority and withdrawal pools, and the functionality of Vault contracts. The system supports Chainlink staking and aims to optimize liquidity management. Questions regarding token support and previous audits are also addressed during the session.

Takeaways

• 🎉 The Stak Link competitive audit is live and runs until October 17th at noon UTC.
• 💰 The prize pool for the contest totals $50,000, divided into $42,000 for mediums, $4,250 for lows, and $3,750 for community judging.
• 📜 The project involves a liquid delegated staking platform designed for Chainlink staking, offering DeFi composability.
• 🔗 Stak Link supports both Chainlink operator and community staking pools, with users able to earn higher rewards by staking in the operator pool.
• ⏳ A priority pool mechanism allows users to queue their tokens when the Chainlink staking pool is full, automatically staking once space becomes available.
• 👨‍💻 Christian, the lead Solidity developer for Stak Link, provided an in-depth technical walkthrough of the staking and withdrawal mechanisms.
• 📊 Users can stake into the priority pool, and when space becomes available, they receive liquid staking tokens through a process verified by Chainlink oracles.
• 🛠️ The system has several vault contracts, each representing a single operator or staker, managing different deposit and withdrawal strategies.
• 💡 Withdrawals are managed by a 28-day unbonding period, but Stak Link optimizes this by keeping a percentage of tokens always unbonded for quicker withdrawals.
• 🔒 Currently, only Chainlink (LINK) tokens are supported, though some contracts are designed to support other ERC-20 tokens in the future.

Q & A

What is the purpose of the Stak link code Hawks kickoff event?

The event is a kickoff for the Stak link competitive audit, currently live on Code Hawks. Participants will be competing for a prize pool by auditing the code and working on a liquid delegated staking platform for Chainlink staking.

What is the total prize pool for the contest, and how is it divided?

The total prize pool is $50,000. It is divided into $42,000 for medium severity issues, $4,250 for low severity issues, and $3,750 for community judging.

What is the main project discussed during the event?

The main project is a liquid delegated staking platform designed to support Chainlink staking. It delivers DeFi composability for staking on the Chainlink network.

Who are the key participants involved in the staking platform?

The platform consists of 15 of the top Chainlink node operators who allow users to stake their tokens into the operator staking pool, earning higher rates than the community staking pool.

What happens if the Chainlink staking pool is full when users try to stake their tokens?

If the pool is full, users’ tokens are queued in the priority pool. Once space becomes available, their tokens will automatically be staked. Alternatively, users can swap their tokens with those queued for withdrawal.

How is the reward distribution handled for users in the priority pool?

Rewards are calculated off-chain by Chainlink oracles and distributed using a Merkle tree stored on IPFS. Users can claim their staking tokens by submitting a Merkle proof.

How does the staking pool manage deposits and withdrawals?

The priority pool manages deposits by minting liquid staking tokens and sending them back to the user. Withdrawals are initiated by burning the liquid staking tokens and returning the underlying LINK tokens to the priority pool.

What role do the operator and community vaults play in the staking platform?

The operator and community vaults manage the actual depositing of LINK tokens into the Chainlink staking contracts. They handle deposits into both the operator and community staking pools, with a strategy to optimize rewards.

What is the function of the fund flow controller in the staking process?

The fund flow controller manages the unbonding and rebonding of vaults to ensure that a certain percentage of tokens are always available for quick withdrawals. It also calculates the deposit and withdrawal order for optimal gas usage.

Can users deposit tokens other than LINK into the staking platform?

Currently, the platform only supports LINK tokens. However, certain contracts are designed to potentially support other ERC-20 tokens in the future.