SSV DAO To Commit Over $10M To Strengthen Future for ETH Staking
SSV DAO is responsible for developing the ssv.network, an open-source distributed validator infrastructure committed to distributing grants to the development teams to help them decentralize the consensus layer of Ethereum in the development of its transition to POS.
ssv.network is a community-driven open-source protocol that enables trustless operation and distribution of an ETH validator between autonomous staking operators or nodes. ssv.network is a response to the limitations of the current ETH staking ecosystem. Ethereum staking is currently concentrated on a limited number of validator clients and service providers, resulting in centralization.
SSV DAO has made staking easily accessible to various staking configurations and operators. This has resulted in enhanced security, validator performance, and fault tolerance. The SSV DAO holds more than $10 million in assets after the partnership with well-known industry leaders such as DCG, Coinbase, and more. Currently, it is doubling down on building the required staking infrastructure for various decentralized staking apps. It encourages developers to go for grants and participate in incentivized test nets and bug bounties.
Many emerging projects are innovating the network, and the main goal of SSV DAO is to increase the number of assets that the DAO treasury holds. ssv.network’s native token, SSV tokens, will comprise most of the treasury assets of the DAO. More income is likely to be generated from the network fees as more users stake Ethereum using ssv.network.
The additional income will be available in SSV tokens for the DAO. Hence, to maximize this income for SSV DAO, users are required to contribute to the following segments:-
- Protocol decisions and development
- Determine the protocol fees
- Assist with expanding the ecosystem (Ethereum at stake, number of operators, and DAO members).
- Supervise operator activity.
The treasure of the native token can be utilized to fund different projects that can help the ecosystem and protocol grow:-
- Grants for network growth and protocol development.
- Revenue is directly shared with SSV holders.
- Token swaps for treasury diversification.
- Marketing and community incentivization (dMarketing).
- Investment by strategic partnerships in exchange for SSV tokens.