SSV.Network Accomplishes $2 Billion TVL Milestone, Teams up With Ether.Fi

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As a researcher with a background in blockchain technology and staking infrastructure, I am thrilled to see the impressive milestone reached by SSV.Network. The announcement of surpassing $2 billion in total value locked (TVL) is a significant achievement for any staking provider. Furthermore, the rapid growth of Ethereum validators using their tech, now exceeding 19,000 units, is a testament to their robust and reliable solution.

In line with the surge in popularity of restaking mechanisms, SSV.Network has broadened its network of collaborators and welcomed a fresh batch of depositors. As of late April 2024, the total number of validators utilizing their technology aims to reach an aggregate of 20,000.

SSV.Network celebrates $2 billion TVL milestone

As a researcher studying the Ethereum staking ecosystem, I’ve observed an exciting development with SSV.Network. Their infrastructure for providing staking services has surpassed a milestone of $2 billion in value locked. Moreover, within the past 30 days, the number of Ethereum validators relying on SSV.Network has more than doubled, now exceeding 19,000 units.

2 BILLION. 💙

— SSV Network (@ssv_network) April 28, 2024

As a protocol analyst, I can share that SSV.Network currently safeguards approximately 568,000 Ether (ETH) through the collaboration of nearly 400 node operators. Notable among these are key players in the retail staking sector.

As an analyst, I would describe SSV.Network’s Distributed Validator Technology in the following way: With this technology, I can tap into a worldwide network of proficient node operators, making it possible for any staking application to benefit from their high-performance capabilities.

Previously reported by U.Today, SSV.Network surpassed one billion dollars in staked value (total value locked) on March 27, 2024, within just three months of its mainnet launch.

Its proprietary technology, DST, played a critical 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.

SSV.Network integrates DVT tech into Ether.Fi

SSV has teamed up with Ether.Fi, allowing the integration of SSV’s decentralized validator technology (DVT) into their prominent staking platform.

By incorporating SSV’s DVT infrastructure into its current staking service, Ether.Fi has dispersed its staking functions and improved its robustness.

Mike Silagadze, CEO of Ether.fi, underscored the significance of incorporating SSV.Network’s offerings into Ether.Fi to enhance the Ethereum staking and restaking ecosystem as a whole.

Ether.fi has consistently prioritized enhancing the decentralization and robustness of our operations. By teaming up with SSV, we’re not only moving forward in this regard but also amplifying the benefits for our valued users.

I’ve analyzed the latest developments with Ether.Fi and found that, up to this moment, nearly 2,000 validators have joined SSV.Network, thereby increasing the Total Value Locked (TVL) by approximately $200 million.

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2024-04-30 17:27