SSV.Network Hits $2B in TVL and Integrates With Ether.Fi – Crypto News – Crypto News
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SSV.Network Hits $2B in TVL and Integrates With Ether.Fi – Crypto News

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1 year ago

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Staking infrastructure provider SSV.Network has hit a major milestone with the Total Value Locked (TVL) in its protocol, reaching $2B in staked ETH. SSV has also partnered with Ether.Fi, who have integrated SSV’s distributed validator technology (DVT) into their leading restaking platform.

In just 30 days, the Total Value Locked (TVL) in Ethereum staked within SSV’s decentralized protocol has doubled, currently standing at over $2 billion. This means the number of Ethereum validators utilizing SSV has also doubled over the same period and now numbers over 19,000. The SSV Network protocol currently secures more than 568,000 ETH with just under 400 node operators, including leading staking providers.

Ether.Fi has become the latest restaking provider to integrate SSV’s implementation of Distributed Validator Technology (DVT). By integrating SSV’s DVT infrastructure into its existing restaking offering, Ether.Fi has decentralized its staking operations and gained greater fault tolerance.

Mike Silagadze, Ether.fi CEO: “Ether.fi has always been focused on making our operations more decentralized and resilient. Our partnership with SSV allows us to continue down that path while maximizing rewards for our users!”

One key benefit of SSV’s DVT infrastructure is that it allows any staking application to access a globally distributed network of highly performant node operators. By connecting to geographically distributed nodes, Ether.Fi can increase the diversity of its node operator setup and, in the process, secure the ETH staked on Ethereum’s base layer. 

In recent weeks, Ether.Fi has onboarded almost 2,000 validators to SSV.Network, adding $200M to its TVL. In addition to increasing resilience, the integration of SSV has improved relay liveness through the use of operators that leverage the same MEV Relay correlation. This has improved protocol efficiency while enhancing overall performance and network stability. Earlier this month, an SSV cluster that was used by Ether. Fi recieved an 11ETH MEV block reward.

DVT plays a ccritical role in strengthening ETH staking and reinforcing the network against attacks. The technology eliminates single points of failure and reduces the likelihood of slashing by allowing a single validator to be operated by multiple parties, such as professional node operators and solo stakers.  By bolstering the resilience and reliability of restaking, Ether.Fi has set a new standard for security and trustworthiness in the entire staking ecosystem. 

About SSV.Network

SSV.Network creates easy-to-use and scalable infrastructure for developers. SSV is powered by DVT technology, a pioneering architectural framework designed specifically for Ethereum staking. Thanks to its permissionless design, SSV empowers staking operators and validators to join the network and participate in Ethereum staking.

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