Key highlights:

  • SSV Network achieves 1 million ETH staked, marking a significant milestone.

  • The network supports nearly 30,000 validators and over 700 node operators globally.

  • Plans are underway to reduce node operators' hardware requirements by 75-90% within the next year.

SSV Network, an Ethereum distributed validator protocol, marks 1M ETH stakedLaunched in December 2023, this permissionless network allows partners and solo stakers to securely distribute ETH validators, improving security and decentralization.

As a DAO-runed, open-source protocol, SSV supports the development of distributed validator technology (DVT) applications, promoting flexibility and resilience with over 700 global node operators. With prominent integrations and a commitment to reducing hardware requirements, SSV continues to set new standards in Eth staking.

SSV Network hits 1 million staked ETH milestone

SSV Network is a distributed validator network focused on Ethereum. They have announced a major milestone with 1 million ETH staked on its platform. This achievement underscores the protocol's growing influence in the staking and restaking ecosystems since its permissionless network launch in December 2023.

The DAO-owned, open-sourced protocol enables developers to build staking applications using distributed validator technology (DVT). This technology improves resilience, uptime, and decentralization by distributing validator duties to trust-minimized node operators. As of now, SSV Network boasts over $3 billion in total value locked (TVL), nearly 30,000 validators, and more than 700 node operators.

SSV Network Hits $1B Locked Value

The recent surge in staked ETH, including around $1.2 billion from partners in the restaking ecosystem, reinforces SSV Network's role as a critical infrastructure for staking and restaking operations. The network's DVT infrastructure allows ETH validator nodes to be distributed across multiple machines and locations, providing greater flexibility and resilience compared to traditional staking platforms.

Integrations with prominent platforms like Lido Finance, Ether.fi, P2P.org, and Renzo have contributed to the network's robust validator distribution. A team member from SSV Labs highlighted the network's alignment with Ethereum's open-source, permissionless ethos as a key factor in its rapid adoption.

“SSV Network is creating the new gold standard for ETH staking and taking the industry by storm because it builds on the Ethereum community's open-source, permissionless, and trustless ethos.” —a team member from SSV Labs

In addition to celebrating this milestone, SSV Network announced an updated scaling roadmap aimed at reducing hardware requirements for node operators. The current move to an 8-core CPU has increased costs, but SSV Labs is working on solutions to cut these requirements by 75-90% over the next 12 months.

The bottom line

SSV Network's achievement of 1 million staked ETH marks a significant step in enhancing Ethereum's cryptoeconomic security and decentralization. With ongoing developments to optimize node operations and continued support from major integrations, SSV Network is poised to strengthen its position in the staking and restaking ecosystem.