u.today
In its first weeks of operations, SSV.Network has become the fastest-growing Ethereum (ETH) staking provider for institutions and retail customers. The team also released a public explorer to make staking processes more transparent than ever before.
SSV.Network surpasses $100 million in staked funds in two months
SSV.Network, a decentralized Ethereum (ETH) staking infrastructure provider, announced today that the network surpassed 2,000 validators. In total, over 50,000 Ethers (ETH) have been staked since the first application went live on the platform.
The SSV network is growing fast, with over 2,000 validators already on mainnet! pic.twitter.com/IMouQAx3Uv
— ssv network 🤖💙 (@ssv_network) November 27, 2023
In current prices, the aggregated sum injected into the staking instruments of SSV.Network exceed $100 million in equivalent.
The SSV DAO initiated the launch phase on Sept. 15, providing public access to the first batch of live staking applications built on SSV.Network by the SSV DAO Launch Partners (LPs). The platform currently secures cryptocurrency staked by multiple LPs using the distributed infrastructure.
SSV DAO representatives are excited about the prospects of SSV.Network in the segment of decentralized Ethereum (ETH) staking:
Quickly reaching the major milestone of $100M ETH staked using SSV.Network DVT infrastructure is a testament to the industry’s desire for a more robust and secure staking experience. Thanks to global collaboration, the infra allows diverse and scalable staking use cases to be built and will help bring the next wave of ETH stakers to the forefront.
As covered by U.Today previously, on Nov. 13, 2023, SSV.Network teamed up with Web3 veterans P2P.org to provide more decentralized staking for various categories of users.
SSV.Network migrates toward 100% decentralization, DAO voting pending
The two teams introduced DVT staking API, a new-gen instrument for automated seamless integration of staking services for institutions.
The launch phase marked the first live implementation of a distributed validator technology (DVT) network at scale, with multiple applications and use cases running on the Ethereum mainnet.
Pending an SSV DAO vote, the final, permissionless launch will be deployed in two phases. The first allows stakers to permissionlessly distribute their validators using the network, followed by any node operators being allowed to join, thereby expediting the growth of the ssv.network and widespread adoption of DVT within the Ethereum staking ecosystem.