If you do not want to operate your own Harmony node to earn staking rewards, you can outsource this task to a third-party staking and validation service. But while delegating your ONE tokens is easier than validating Harmony blocks yourself, it exposes you to the potential bad behavior and the unfulfilled reliability promises of your validator.
This might lead you to missing rewards because of downtimes, and losing a fraction of your staking deposit because of double-sign slashing penalties. That’s where DSLA comes in.
Meet DSLA Protocol
DSLA Protocol is a new DeFi initiative that aims at solving this dilemma, and mitigating protocol violations, by adding a decentralized insurance layer on top of the staking activity of proof-of-stake blockchain networks.
By combining an on-chain alternative to third-party outsourcing contracts called service level agreements, and programmable cryptocurrency payouts, DSLA Protocol enables anyone to effortlessly hedge against staking risks, and passively earn rewards for protecting staking deposits.
DSLA Protocol (DSLA) x Harmony (ONE)
On September 30th 2020, DSLA core developers are organizing an incentivized beta to validate the functional, performance, reliability and security assumptions of the dsla.network decentralized application that integrates DSLA Protocol, before tentatively launching both products on the mainnet on November 30th 2020. Beta participants will be rewarded using DSLA tokens with actual market value.
Harmony is the first proof-of-stake blockchain network to be officially supported by the DSLA protocol during the DSLA incentivized beta, and for the upcoming mainnet.
Our teams will join forces to make staking ONE tokens rank amongst the safest and most rewarding staking experiences in the industry.
To follow the news about the DSLA Incentivized Beta, feel free to subscribe to the project’s dedicated Product Hunt page, and join the ongoing conversation on Telegram. The DSLA core development team will share more information about the beta roadmap very soon.