ssv.network injects $10M in ETH 2.0 staking infrastructure
- ssv.network is the first protocol that offers a secure way to split a validator key between non-trusting nodes
- Providers access the infrastructure and stability needed to develop liquid staking protocols on ETH 2.0
- SSV decentralizes and systematizes staking on the infrastructure level, like L2 does for scalability
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ssv.network has collected $10 million to ramp up decentralized staking infrastructure for ETH 2.0, Invezz learned from a press release. The open-source and decentralized protocol, which simplifies access to decentralized Ethereum (ETH/USD) staking, launched a DAO Partner Program in October 2021 to strengthen partnerships and enlarge its community.
First ever protocol enabling secure validator key splitting
ssv.network is the first protocol that offers a secure way to split a validator key between non-trusting nodes. It runs on a node network operating under consensus to help generate ETH rewards for stakers. ssv.network promotes client diversification and Ethereum decentralization, lends staking stability and robustness, and facilitates trustless staking access.
Making liquid staking protocols fact
Such technology is of paramount importance in the process of solving fundamental issues for major CEXs and existing staking providers, giving them access to the infrastructure and stability needed to develop liquid staking protocols on Ethereum 2.0.
A new epoch in decentralized staking
The decentralized staking model is particularly significant for pools and liquid staking protocols. In many cases, decentralization takes a back seat to user experience. ssv.network will enable liquid DeFi protocols and staking pools.
The Layer 0 of Ethereum
With the upcoming Merge and the great popularity of ETH staking, ssv.network has positioned itself as the Layer 0 of Ethereum. It decentralizes and systematizes staking on the infrastructure level, much like Layer 2 blockchains do for scalability.
SSV has partnered with Coinbase, Gate.io Ventures, OKEX Ventures, NGC Ventures, and more as well as onboarded ecosystem partners like DappNode, Blocscape, Allnodes, Everstake, Valid Blocks, Chainlayer.io, Stakin, AMBER, RockX, Shardlabs, and BloxStaking.
Alon Muroch, Core Contributor at ssv.network commented:
We identified DV technology at a very early stage as a critical component in Ethereum’s transition to Eth 2.0. It is incredible to see the level of adoption and participation at such an early stage in the network’s life cycle. ETH staking and DeFi will be some of crypto’s core themes in 2022 and both segments will benefit tremendously from decentralizing Ethereum’s security layer, which we call Layer 0. 2021 was the year of L2, 2022 is set to become the year of Layer 0.