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Rated Effectiveness Rating
Methodology that underlies the Rated Validator Effectiveness Rating of validator and operator performance on Ethereum.
The Rated Validator Effectiveness Rating (aka RAVER) is a measure of how well a validator has been performing its deterministic duties over time.
It seeks to be a true measure of performance, attributing points to the validator and operator for attributes of their onchain footprint that they have influence over (e.g. whether they are getting their attestations included, which implies that they are default online), while dampening the effect of metrics that allow randomness to creep into the measurement (e.g. execution layer rewards that the validator has accrued).
The RAVER is designed to work with the validator index (or pubkey) as the base unit of account. What the metric effectively does is to tally up the duties that a validator index is called to perform over a given time period (e.g. 10 epochs, a day, a year), and assign points to those instances when duties were completed successfully. The result is a percentage score that illustrates the job completion rate of a given validator index. Over time we have found that this correlates highly with how good an operator is in running performant infrastructure.
Where the RAVER really shines, however, is in the aggregations of validator keys into clusters, and “operators” thereafter.
The RAVER is designed in a way that allows the graceful aggregation of indices into larger groupings, while maintaining the same interface and potency in terms of signal.