Ethereum-Based Staking Platform SSV.Network Reaches $140 Million in TVL

As of mid-December 2023, SSV. Network supports dozens of staking applications working together with over 2,000 validators and 80 operators. The product leverages innovative Distributed Validator Technology (DVT) for transparent and decentralized ETH staking.

According to the official statement of SSV. Network, its users injected over $140 million in Ether (ETH) equivalent to its staking facilities. The array of applications utilizing SSV’s technology eclipsed 66,000 Ethers (ETH) in TVL within months of the mainnet launch.

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 all individual stakers a noncustodial, decentralized and robust staking experience in various formats.

The SSV DAO is also incentivizing DVT adoption by providing an up to 50% APR boost for validators registered to the network, either directly through ssv.network or the staking applications built on SSV.

Besides new-gen validators, developments by SSV. Network are utilized by ETH staking heavyweights including the likes of Stader, StakeWise DVT vaults, ChainUP, XHash, EBunker, Rocketpool (grant intent) and Lido (through the new Simple DVT Module).

As covered by U. Today previously, the TVL of SSV.Network entered nine-digit waters for the first time on Nov. 29; as such, the platform added 50% in net volume of staked crypto in less than three weeks.

Also, through its grants program, SSV DAO has distributed more than $3 million to 55 projects building on the technical basis of 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, and 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 (ETH) network.