SSV Network DAO Kicks Off SSV Staking Testnet With cSSV Alpha Testers Program
SSV Network, the main distributed validator know-how (DVT) supplier on Ethereum securing ~6.3M ETH, in the present day introduced the launch of the SSV Staking Testnet, and an accompanying incentivized Alpha tester program. The initiative invitations Ethereum members worldwide to develop into early testers of cSSV, the brand new staking token powering SSV’s subsequent main protocol improve. SSV Token Unlocks New Utility
SSV Staking is the SSV Network’s subsequent main evolution: a shift towards ETH-native settlement, post-Pectra validators, and oracle-backed accounting. The cSSV token, which is a 1:1 illustration of your staked SSV place, acts because the interface for governance, oracle choice, and a pro-rata declare on community charges whereas additionally usable in DeFi.
The testnet supplies the primary end-to-end public expertise of this upgraded staking structure, providing customers the chance to work together with the complete lifecycle earlier than mainnet releases.
cSSV Alpha Testers Program
The SSV DAO is launching an incentivized Alpha testers program centered on actionable, high-quality suggestions, guaranteeing customers are accustomed to the stream earlier than going dwell and rewarding them for his or her participation within the testnet.
Participants will:
- Complete particular on-chain interactions inside the testnet surroundings
- Submit structured suggestions
- Selected winners will likely be eligible for part of a $5,000 prize pool
“We are excited to open up the SSV staking testnet to the general public for everybody to expertise what the longer term holds for the SSV token. Join the testnet, push the system, and inform us what you assume. The reward program is constructed to acknowledge the individuals who assist flip the following protocol improve right into a mainnet-quality launch.” stated Elad Gafni, SSV Foundation.
A New Way to Secure Ethereum
After Ethereum transitioned to post-Pectra validator balances, correct on-chain accounting for SSV Network requires monitoring efficient balances that dwell on the consensus layer. The protocol’s design introduces an oracle system to trace balances onchain, and the staking/delegation mechanism is meant to align long-term members with that core operate.
By staking SSV, members contribute on to securing a core operate of the SSV Network whereas supporting Ethereum’s broader validator ecosystem. The mechanism introduces a brand new alternative to earn ETH-denominated rewards past conventional Proof-of-Stake participation.
Disclaimer: The testnet and reward program are a part of an ongoing course of. SSV Staking stays topic to SSV DAO governance and group suggestions. Testnet tokens don’t have any financial worth.
About SSV Network
SSV Network supplies a distributed infrastructure designed to enhance the fault tolerance, decentralization, and safety of Ethereum validators via Distributed Validator Technology (DVT). SSV Network is the main supplier on Ethereum, securing ~6.3M ETH throughout almost 2,000 globally distributed node operators.
Press contact
Robert Drage
robert@ssvlabs.io
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