SSV.Network’s DVT-Powered Ethereum Staking Ecosystem Locks in $140M TVL
In Brief
Ethereum infrastructure protocol SSV.Network has passed a significant milestone in creating a new standard for Ethereum staking.
Ethereum infrastructure protocol SSV.Network has passed a significant milestone in creating a new standard for Ethereum staking. With its ecosystem of staking applications going live, over $140M in ETH is now staked through SSV’s DVT-powered staking infrastructure.
The total value locked (TVL) into SSV.Network now stands at over $140M. As more newcomers and industry leaders begin to implement DVT into their staking offerings, the total ETH secured by SSV’s technology is poised to grow.
Over 66,000 ETH is staked into applications utilizing SSV’s technology, with over 2,000 validators and 80 operators active on the SSV mainnet. The rapid growth in demand for SSV staking products augurs well for the health of the Ethereum staking industry, which is more secure and decentralized than ever thanks to Distributed Validator Technology (DVT).
Numerous DVT-native staking applications are now live on SSV’s mainnet, including Claystack, Metapool, Stake Together, 01Node, StakeStar, and StaFi. These staking solutions allow any individual stakers a non-custodial, decentralized, and robust staking experience in various formats. The SSV DAO is also incentivizing DVT adoption by providing up to 50% APR boost for validators registered to the network; either directly through ssv.network or the staking applications built on SSV.
Existing staking giants, including Stader, StakeWise DVT vaults, ChainUP, ANKR, XHash, EBunker, Rocketpool (grant intent), and Lido (through the new Simple DVT Module), have also started testing and using the technology. SSV’s DVT-powered applications incorporate different use cases ranging from staking pools to institutional staking services, allowing different user groups to participate in next-gen staking. Through its grants program, SSV DAO has allocated over $3 million to 55 projects building out the SSV.Network ecosystem.
Following an SSV DAO vote at the start of December, SSV’s Permissionless mainnet launch commenced, allowing public validators to join the network and distribute their staking configuration by using multiple node operators. The upgrade will also allow anyone to connect as a node operator and earn $SSV rewards for supplying staking services to network validators.
SSV’s implementation of the DVT Network increases client and infrastructure diversity, seamless customization, supporting greater uptime and decentralization. Allowing staking services to increase the number of node operators running a validator reduces centralization risk and supports a more robust Ethereum network.
As open-source technology, the SSV protocol is available for anyone to build upon. This allows staking projects to harness the benefits of DVT while creating applications that are tailored to suit their target market.
About SSV.Network
SSV.Network creates easy-to-use and scalable infrastructure for developers. SSV is powered by DVT technology, a pioneering architectural framework designed specifically for Ethereum staking. Thanks to its permissionless design, SSV empowers staking operators and validators to join the network and participate in Ethereum staking.
Learn more: https://ssv.network/
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
