As of mid-December 2023, SSV.Network supports dozens of staking applications in collaboration with more than 2,000 validators and 80 operators. The product uses innovative Distributed Validator Technology (DVT) for transparent and decentralized ETH staking.
SSV.Network’s staking infrastructure exceeds $140 million in TVL
According to the official statement from SSV.Network, the users injected more than $140 million worth of Ether (ETH), which corresponds to the betting facilities. The range of applications using SSV’s technology eclipsed 66,000 Ethers (ETH) in TVL within months of the mainnet launch.
A benefit of SSV is increased fault tolerance, which translates into better on-chain effectiveness, maximizing rewards for validators.
SSV maintains an effectiveness of over 99.2% for all validators, versus the network average of 96.1% measured by @ratedw3b
🔗 https://t.co/M7OjOm7Ntv pic.twitter.com/wMeRrDL2XO
— ssv network 🤖💙 (@ssv_network) December 18, 2023
Numerous DVT native staking applications are now live on SSV’s mainnet, including Claystack, Metapool, Stake Together, 01Node, StakeStar, and StaFi. These staking solutions provide all individual stakers with a non-custodial, decentralized, and robust staking experience in a variety of formats.
The SSV DAO also encourages DVT adoption by offering an APR boost of up to 50% for validators registered with the network, either directly through ssv.network or the staking applications built on SSV.
In addition to next-generation validators, SSV.Network’s developments are being used by heavyweights in the ETH staking space, including Stader, StakeWise DVT vaults, ChainUP, XHash, EBunker, Rocketpool (subsidy intent), and Lido (via the new Simple DVT module).
As previously reported by U.Today, SSV.Network’s TVL entered nine-figure waters for the first time on November 29; as such, the platform added 50% in net volume of crypto staked in less than three weeks.
SSV Permissionless mainnet launched in December
Through its grant program, SSV DAO has also distributed more than $3 million across 55 projects, building on the technical foundation of the SSV.Network ecosystem.
Following an SSV DAO vote in early December, the launch of SSV’s Permissionless mainnet began, allowing public validators to join the network and distribute their staking configuration using multiple node operators. The upgrade also allows anyone to connect as a node operator and earn $SSV rewards for providing staking services to network validators.
SSV’s implementation of the DVT network increases customer and infrastructure diversity, and seamless customization, supporting greater uptime and decentralization. Allowing staking services to increase the number of node operators using a validator reduces centralization risk and supports a more robust Ethereum (ETH) network.
