Ethereum-Based Staking Platform SSV.Network Reaches $140 Million in TVL
As of mid-December 2023, SSV.Community helps dozens of staking functions working along with over 2,000 validators and 80 operators. The product leverages progressive Distributed Validator Expertise (DVT) for clear and decentralized ETH staking.
SSV.Community staking infrastructure exceeds $140 million in TVL
In response to the official assertion of SSV.Community, its customers injected over $140 million in Ether (ETH) equal to its staking services. The array of functions using SSV’s expertise eclipsed 66,000 Ethers (ETH) in TVL inside months of the mainnet launch.
One advantage of SSV is elevated fault tolerance, which interprets to higher effectiveness on-chain, maximizing rewards for validators.
SSV maintains 99.2%+ effectiveness throughout all validators, towards the community common of 96.1% measured by @ratedw3b
🔗 https://t.co/M7OjOm7Ntv pic.twitter.com/wMeRrDL2XO
— ssv community 🤖💙 (@ssv_network) December 18, 2023
Quite a few DVT-native staking functions are actually dwell on SSV’s mainnet, together with Claystack, Metapool, Stake Collectively, 01Node, StakeStar and StaFi. These staking options permit all particular person stakers a noncustodial, decentralized and sturdy staking expertise in varied codecs.
The SSV DAO can be incentivizing DVT adoption by offering an as much as 50% APR increase for validators registered to the community, both straight via ssv.community or the staking functions constructed on SSV.
Moreover new-gen validators, developments by SSV.Community are utilized by ETH staking heavyweights together with the likes of Stader, StakeWise DVT vaults, ChainUP, XHash, EBunker, Rocketpool (grant intent) and Lido (via the brand new Easy DVT Module).
As coated by U.Right this moment beforehand, the TVL of SSV.Community entered nine-digit waters for the primary time on Nov. 29; as such, the platform added 50% in web quantity of staked crypto in lower than three weeks.
SSV Permissionless mainnet kicked off in December
Additionally, via its grants program, SSV DAO has distributed greater than $3 million to 55 tasks constructing on the technical foundation of the SSV.Community ecosystem.
Following an SSV DAO vote at first of December, SSV’s Permissionless mainnet launch commenced, permitting public validators to hitch the community and distribute their staking configuration by utilizing a number of node operators. The improve may also permit anybody to attach as a node operator and earn $SSV rewards for supplying staking companies to community validators.
SSV’s implementation of the DVT Community will increase shopper and infrastructure range, and seamless customization, supporting higher uptime and decentralization. Permitting staking companies to extend the variety of node operators operating a validator reduces centralization danger and helps a extra sturdy Ethereum (ETH) community.
