Over the past month, the Total Value Locked (TVL) of staking infrastructure provider SSV.Network skyrocketed to hit the impressive $2 billion milestone. Ether.Fi also became the latest platform to integrate SSV’s Distributed Validator Technology (DVT), and in doing so, set a new standard for security and reliability in staking.
SSV.Network’s TVL and Ethereum Validator Count Double
Staking infrastructure provider SSV.Network recently hit a huge milestone after its Total Value Locked (TVL) essentially doubled to reach $2 billion in staked ETH on Apr. 28. The number of Ethereum validators using SSV also doubled, and now stands at more than 19,000.
Additionally, Ether.Fi has integrated with SSV’s Distributed Validator Technology (DVT). This integration with SSV’s DVT allows Ether.Fi to diversify its node operator network across different geographic locations, thereby increasing fault tolerance and boosting the security of the staked ETH.
DVT is crucial when it comes to reducing risks like single points of failure and slashing as it allows multiple parties to manage a single validator. This not only strengthens the security of Ethereum’s staking mechanism, but it also improves the overall performance and stability of the network. In fact, the recent integration made it possible for Ether.Fi to onboard almost 2,000 validators to SSV.Network, contributing an additional $200 million to its TVL.
Ether.Fi Becomes More Resilient and Efficient
In addition to making Ether.Fi more resilient, the partnership with SSV has also yielded other tangible benefits, including improved relay liveness through the use of operators that leverage the same MEV Relay correlation, which in turn, boosts protocol efficiency. Earlier this month, an SSV cluster that was used by Ether.Fi received an 11 ETH MEV block reward as well.
Mike Silagadze, the CEO of Ether.Fi, is very optimistic about the partnership. According to him, Ether.Fi has always been focused on making its operations more decentralized and resilient. He now believes the new partnership will allow Ether.Fi to continue down this path and will maximize rewards for its users.
Overall, this partnership between SSV.Network and Ether.Fi sets a new standard for security, reliability, and trustworthiness within Ethereum’s staking ecosystem.
