SSV.Network’s DVT-Powered Ethereum Staking Locks in $140M TVL

FinanceFeeds Editorial Team

Using Ethereum, SSV.Network has launched a range of DVT-powered staking applications, securing over $140M in ETH and heralding a new era of security and decentralization in the Ethereum ecosystem.

SVV network

The total value locked (TVL) in SSV.Network has now surpassed $140M. With the increasing adoption of DVT by both new entrants and established players in the industry, the total ETH secured by SSV’s technology is expected to rise.

The network has seen over 66,000 ETH staked in applications using SSV’s technology, supported by more than 2,000 validators and 80 operators on the SSV mainnet. The growing demand for SSV staking products indicates a positive outlook for the Ethereum staking sector, now more secure and decentralized with Distributed Validator Technology (DVT).

Several DVT-native staking applications are operational on SSV’s mainnet, including Claystack, Metapool, Stake Together, 01Node, StakeStar, and StaFi. These platforms offer a variety of non-custodial, decentralized staking experiences for individual stakers. Additionally, the SSV DAO is promoting DVT adoption by offering up to 50% APR boost for validators on its network, accessible either directly through ssv.network or via the staking applications built on SSV.

Major staking players like Stader, StakeWise DVT vaults, ChainUP, ANKR, XHash, EBunker, Rocketpool (grant intent), and Lido (with its new Simple DVT Module) have started experimenting with and utilizing this technology. SSV’s DVT-enabled applications cater to diverse needs, from staking pools to institutional staking services, inviting various user groups to engage in advanced staking. Through its grants program, the SSV DAO has allocated over $3 million to 55 projects to expand the SSV.Network ecosystem.

Following a vote by the SSV DAO in early December, SSV initiated the launch of its Permissionless mainnet, enabling public validators to join the network and distribute their staking configurations across multiple node operators. This upgrade also permits anyone to become a node operator, earning $SSV rewards for providing staking services.

The implementation of the DVT Network by SSV enhances client and infrastructure diversity and customization, leading to higher uptime and greater decentralization. This approach enables staking services to increase their node operator count, thus reducing centralization risks and strengthening the Ethereum network.

As an open-source protocol, the SSV technology is accessible for anyone to develop. This opens avenues for staking projects to leverage DVT benefits while creating tailored applications for their specific markets.

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