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

Following the powerful trend on restaking mechanisms of various types, SSV.Network expanded its network of partners and onboarded a new cohort of depositors. The aggregated number of validators using its tech targets 20,000 as of late April 2024.

SSV.Network celebrates $2 billion TVL milestone

Staking infrastructure provider SSV.Network eclipsed $2 billion in equivalent of its total value locked in the Ethereum staking module. The total number of Ethereum validators utilizing SSV has also doubled over the last 30 days and now exceeds 19,000 units. 

The SSV.Network protocol currently secures over 568,000 Ethers (ETH) with just under 400 node operators, including leading staking providers for theretail segment.

SSV.Network's solution Distributed Validator Technology is designed to allow any staking application to access a globally distributed network of high-performing node operators.

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Wed, 03/27/2024 - 10:15

SSV.Network Reaches $1 Billion in Staked Ether Volume

Vladislav Sopov

As covered by U.Today previously, SSV.Network reached its first billion in staked volume (TVL) on March 27, 2024, less than three months in the mainnet operation phase.

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 also partnered with Ether.Fi, who have integrated SSV’s distributed validator technology (DVT) into their leading restaking platform.

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, stressed the importance of integrating SSV.Network's products in Ether.Fi for the entire segment of ETH staking and restaking:

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!

As of press time, Ether.Fi has onboarded almost 2,000 validators to SSV.Network, adding $200 million to its TVL.