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Identified Node Operators

This guide describes how to become an Identified Node Operator for stVaults and qualify for category-based tiers with specific Reserve Ratio & stETH minting limits.

Why become Identified​

  • stVaults are permissionless, meaning anyone can create and run an stVault. However, if the stVault is created by an unidentified Node Operator, it will be assigned to the Default tier with a Reserve Ratio = 50%. During the V3 secure rollout, stETH minting in the Default tier will be restricted in the first two phases, which will be lifted later during “Phase 3: Permissionless Mode”.
  • Better economics vs. permissionless defaults. The risk framework for V3 sets default RR and caps, and allows improved terms for identified Node Operators. The default terms are: Unidentified = 50% RR, Identified ≈ 5-3% RR, (illustrative; final terms are case-by-case).
  • A clear governance path exists to approve non-default terms and monitor performance via the stVaults Committee.

The category → tiers model​

  • Node Operators are placed into a Category that reflects combined operational, decentralization, and business factors (Basic identified, stVault Professional Operator, stVault Professional Trusted Operator).
  • Each category contains multiple tiers. A tier is a specific minting configuration that defines the Reserve Ratio (RR), stETH Minting Limit (cap), and corresponding Lido fees. Operators receive a tiers grid (Tier 1…N) within their category; higher tiers increase the allowed minting cap but decrease the Reserve Ratio.
  • Within the assigned category, one Node Operator can hold multiple tiers that the stVaults Committee can set or change based on the Node Operator’s requests, performance, slashing events, or market circumstances in accordance with the stVaults Risk Framework.
  • Categories — Basic, stVault Professional Operator, and DVT — can be granted to a Node Operator or DVT cluster upon request during the initial identification process. However, the stVault Professional Trusted Operator category can only be awarded after three months of successful validation and proof of a significant amount of prospective funds to be acquired.

Categories and tiers​

Default Tier for Unidentified Node Operators (permissionless)​

This is a common tier shared by all stVaults operated by Unidentified Node Operators, meaning a single stETH minting limit applies to all stVaults within this tier.

Reserve RatioTier stETH limit
50%500,000 stETH

Categories and Tiers for Identified Node Operators​

BasicstVault Professional OperatorstVault Professional Trusted OperatorDVT cluster
Tier NumberReserve RatioTier stETH limitReserve RatioTier stETH limitReserve RatioTier stETH limitReserve RatioTier stETH limit
15%47,500 stETH3.50%48,250 stETH2.50%48,750 stETH2%49,000 stETH
26%47,000 stETH4%48,000 stETH3%48,500 stETH2%49,000 stETH
39%182,000 stETH6%188,000 stETH4%192,000 stETH2%196,000 stETH
414%258,000 stETH10%270,000 stETH6.50%280,500 stETH3%291,000 stETH
520%320,000 stETH14.50%342,000 stETH10%360,000 stETH4%384,000 stETH

Category criteria​

CategoryUnidentified (permissionless)BasicstVault Professional OperatorstVault Professional Trusted OperatorDVT cluster
KYC(B)-KYC(B)KYC(B)KYC(B)KYC(B)
Infra requirements-BasicStrongStrongDVT cluster with 4+ independent Node Operators.
Operations Requirements-BasicStrongStrongUse DKG to generate keys
Business case (amount of ETH to be acquired)--Large amount of ETHSignificant amount of ETH-
Time constraints---3+ months of successful validation-

End-to-end process to become an Identified Node Operator​

  1. Public Identification Request on Lido Research Forum

    Post your baseline request and summary on the Lido Research Forum – it is the formal trigger for consideration to be moved from Unidentified to Identified.

    🔗 Lido Research Forum

    What information to provide:

    • Who you are; request (become Identified; apply for a Category or for a Category change; any non-default requests).
    • [Concise] Business case: ETH you can acquire — scales/market size, user segments, channels, partners, timelines, fee policy.
    • [Concise] Ops & decentralization: client mix/versions, infra footprint, geo/jurisdiction diversity, MEV posture.
    • Links: site/docs/audits/certifications/insurance (if any).
    • Publish your post under the “Node Operators > stVaults Identification” category.

  2. Node Operator Questionnaires (private)

    You are also asked to provide technical and business detailed information. This step is required only during the initial identification process and category assignment.

    2.1. To complete the identification process and obtain the "Basic" category, please fill out this form:

    🔗 Basic stVaults Identification form.

    What information you will be asked to fill in the form:

    • KYC(B) (entity, jurisdictions, contacts).
    • Data for your card on the Node Operators Overview page.

    2.2. To obtain better stETH minting terms under the stVault Professional Operator category (and stVault Professional Trusted Operator later on), please also fill out this form:

    🔗 Extended stVaults Category Application.

    What information you will be asked to fill in the form:

    • Business plan (ETH sourcing, channels, audience, timing).
    • Infra (clients’ set-ups, locations, server types, server providers, key generation & management, etc.).
    • Ops (monitoring/alerting, on-call, IR runbooks, insurance, bug-bounty).

  3. Assessment & scoring

    You are evaluated across three main areas by the stVaults Committee: Operational Capabilities, Decentralization & Infrastructure Distribution, and Business Case with an emphasis on proposed business cases.

  4. Decision: Category and corresponding Tier Grid (RR & stETH minting limits)

    The stVaults Committee assigns your category (Basic identified, stVault Professional Operator, or DVT cluster), defines your tiers grid, and then pushes updates through Easy Track. The stVaults Committee publishes the reasoning behind its decision either in a post on the Lido Research Forum under the “Node Operators > stVaults Identification” category, or as a reply to the original post-request submitted by the Node Operator.

  5. Node Operator card creation

    The stVaults Committee creates your Node Operator card (name/logo, links, geo/jurisdiction, infra/DVT/relays, certifications/audits/insurance/bug-bounty). Your card will be displayed on the Node Operators Overview page when you have at least one stVault with at least 32 ETH of Total Value. The Node Operators Overview page will follow in a later release after stVaults Mainnet.

  6. Communication & listing

    Your card and tiers grid are set, and you can now continue as an Identified Node Operator. Additionally, every Identified Node Operator will have a direct communication channel with the stVaults Committee representatives in a shared Telegram group. Questions and discussions can also always be raised on the Lido Research Forum.

How tiers map to risk profile & business case​

1) Why categories exist.

The Lido V3 risk assessment framework aims to balance growth opportunities with protection against major risks such as correlated slashing and centralization. It does this by linking qualitative signals (like operational and decentralization metrics) with quantitative ones (like stake volumes). Together, these determine how stETH minting limits and Reserve Ratios scale with each operator’s overall risk profile. Default parameters ensure protocol safety, while categories allow well-earned flexibility.

A Category represents a classification of Node Operators:

  • Each Category has an associated tier grid, which serves as a baseline configuration for Node Operators within that Category.
  • When a Node Operator is assigned to a Category based on its unique performance and characteristics, it receives tiers (with defined RRs and stETH limits) according to that Category and the Node Operator’s total stETH minting limit.

2) Why multiple tiers per category?

Each tier is designed for a distinct business case — not a linear “risk ladder.”

  • First tiers (Tier-1..2): lowest RR + lowest stETH minting limit → liquidity-first scenarios (strategy builders, looping) where liquidity matters most; stETH minting capacity is tightly bounded.
  • Upper tiers (Tier-3…N): more conservative RR + much higher stETH minting limit → volume-first scenarios (institutions, funds, ETF/ETP) where large mints — sometimes on demand — matter more than high liquidity.

3) How RR & stETH minting limit interact.

In any stVault, stETH capacity depends on the Reserve Ratio and the Total Value, but is also constrained by limits:

  • stVault stETH limit (equal to Tier stETH limit by default).
  • Tier stETH limit.
  • Node Operator stETH limit.
  • stVaults’ global stETH limit.

Tiers and minting parameters

Governance & operational safety net.​

In order to keep the stVaults risk framework flexible and to streamline the governance process around it, it is proposed that the stVaults Committee will be responsible for the following actions:

  • Set the reserve ratio for specific tiers or stVaults.
  • Define the default and custom tier grids for node operators.
  • Set DAO fee values for specific vaults and tiers within a node operator’s grid.
  • Bad debt compensation management between vaults/tiers in complex cases, like mass slashing.
  • Manage Lido Core redemptions, trigger validator exits for rebalancing or redemptions, and perform other actions required in exceptional cases to keep the Lido Core protocol stable and secure, in accordance with the stVaults risk assessment framework.
  • Adjusting the stVaults risk framework and the scores within the framework.

Easy Track helps to speed up the process of changing parameters while securing protocol, builders, and node operators from the malicious actions of committee members as these motions are vetoable by LDO token-holders.

LDO token-holders may also at any time vote to rescind or reassign these responsibilities to another group, entity, or individual, and may vote to modify, extend, or remove them entirely.

References​