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SSV Network Raises $10 Million From DAO Partners To Scale ETH 2.0 Staking


Open source and decentralized protocol ssv.network has received $10 million in funding from its DAO partners to ramp up the decentralized staking infrastructure for Ethereum 2.0 ahead of the upcoming Merge. ssv.network to receive $10 million ssv.network said in a press release that it received the funds through the DAO Partner Program, an initiative the project launched in October 2021 with the aim of “expanding the community and building DAO partnerships.” strengthen. To date, the project has implemented its first and second batch of the DAO partner program, partnering with individuals, tech users, industry leaders, ecosystems and venture capital. Some of the notable partners that have joined the SSV ecosystem include Coinbase, Digital Currency Group, Gate.io Ventures, OKEx Ventures, Lead Capital, AMBER, Everstake, DappNode, and Valid Blocks. The project hopes to onboard more companies, key figures and grants as it continues with the DAO partner program. Making ETH 2.0 Staking Easier for Everyone As a fully decentralized open-source protocol, ssv.network focuses on simplifying infrastructure access for ETH 2.0 staking through its Secret-Shared-Validator (SSV) technology. In other words, the network makes it easier for individuals and institutions to use a Distributed Ethereum Validator. ssv.network describes itself as the first protocol that allows users to securely split a validator key between untrusted nodes or operators. According to the release, the technology will give everyone reliable access to ETH staking by providing a robust and stable staking infrastructure while promoting diversification and decentralization on the Ethereum network. It then uses a network of nodes operating under consensus to generate ETH rewards for users. Becoming Layer 0 of Ethereum As the protocol focuses on decentralizing and systematizing staking at the infrastructure level, ssv.network aims to become layer 0 of Ethereum this year. “We identified DV technology at a very early stage as a critical component in the transition from Ethereum to Eth 2.0. It’s incredible to see the level of adoption and participation at such an early stage in the network lifecycle. ETH strike and DeFi will be some of the core themes of crypto in 2022, and both segments will greatly benefit from the decentralization of Ethereum’s security layer, which we call Layer 0. 2021 was the year of L2, 2022 will be the year of Layer 0,” said Alon Muroch, core contributor at ssv.network. The project received a grant from the Ethereum Foundation (EF) in 2021, and the foundation later named SSV technology under Distributed Validator Technology (DVT), which is a key element in the ETH 2.0 roadmap. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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