SSV.Network Raises $10 Million To Ramp Up ETH 2.0 Staking
Open-source and decentralized protocol ssv.network has collected $10 million funding from its DAO partners to ramp up the decentralized staking infrastructure for Ethereum 2.0 ahead of the upcoming Merge.
The funds will enable it to attain its mission of simplifying the access to decentralized ETH staking by enabling a secure method to split a validator key between non-trusting nodes or operators.
The new technology is very important for solving the fundamental issues of existing large centralized exchanges, staking providers, and even highly technical at-home validators. It provides anyone trustless 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.
ssv.network has positioned itself as Layer 0 of Ethereum because of the enormous popularity of ETH staking alongside Ethereum’s upcoming switch to Proof-of-Stake (POS).
So far, the project has conducted its first and second batch of the DAO Partner Program, which saw it team up with individuals, technical users, industry leaders, ecosystems, and venture capital.
Some of the notable partners who 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.
