Ankr Partners With Ssv.network For More Secure Ethereum (ETH) Liquid Staking

Ankr, a multi-chain infrastructure provider for Web 3 and decentralized finance has announced a strategic partnership with ssv.network, a leading distributed validator infrastructure protocol.

Strategic Partnership

The partnership will see Ankr integrate ssv. network’s advancements in distributed validator technology to improve risk management and validator performance. 

It will also promote decentralization across nodes in a completely trustless manner. Combining this technology with Ankr Liquid Staking will increase monetary safety for all holding liquid-staked derivatives from Ankr.

“We are excited to have Ankr as part of the SSV ecosystem. Ankr was one of the first ETH liquid staking pools in the space. Their team has incredible tech foresight and the ability to execute fast. The same applies to their decision to become early adopters of DVT and build the next-gen staking pool on top of ssv.network. This is going to take staking to the next level,” said ssv.network Lead Alon Muroch.

New Milestones

Over the next few months, Ankr will continue to expand its operator and validator base in tandem with ssv.network for a timely and effective integration into the protocol’s distributed network of node operators. 

Additional steps will be taken to stress test, ensure stability, and test out some of the staking and delegation incentives considered for the network.

The teams behind both protocols will continue collaborating to enhance the current staking and node-running experience for the growing liquid staking economy.

This milestone comes when the market shows increasing interest in liquid staking solutions. Staking is currently a $9 billion business for the crypto economy, and it is projected to reach $20 billion following the Ethereum merge. If this trend remains stable and proof of stake becomes the dominant protocol, it could reach $40 billion by 2025.

“Ankr’s partnership with SSV.Network provides everything our users desire from liquid staking – the highest levels of security and decentralization with stable and attractive yields. As the demand for staking increases, we will scale alongside it with the ability to provide staking rewards to any number of new users,” said Filipe Gonçalves, Chief of DeFi at Ankr.

Pairing Ankr’s agile infrastructure with distributed validator technology aims to provide the most accessible pathway for node operators of all sizes while reducing financial, technical, and risk hurdles.

The planned implementation of ssv.network will help to increase Ankr’s growing community of third-party node operators, improving monetary safety for all that hold liquid staked derivatives from Ankr.

Future Of Liquid Staking

Ankr is ahead of the curve by pioneering liquid staking as a form to free up capital in crypto markets, and ssv.network has the technology to provide a superior experience for stakers and node operators. 

Merging ssv.network’s Distributed Validator Technology model with Ankr’s liquid staking infrastructure will create the next generation of liquid staking protocols. Together, Ankr and ssv.network can shape the future of liquid staking by bringing about more decentralization, security, and accessibility for stakers and node operators on a global scale.

SSV technology is entirely new in the blockchain ecosystem. SSV stands for Secret Shared Validator, although this technology is also labeled as Distributed Validator Technology (DVT). It enables any validator node to split its keys between four separate operators to ensure a fail-safe system for node operation. DVT promotes client diversity, decentralization, and fault tolerance while mitigating slashing and downtime risks.

The distributed operation of an Ethereum validator enabled by SSV will be complemented by Ankr’s own liquid staking infrastructure. This includes delegating funds to trusted nodes, introducing liquid staking tokens to free up user capital, and cross-chain integrations to bridge liquid staking tokens to different blockchains for maximum earning opportunities.

Related Posts

How Crypto Twitter reacted to Kim Kardashian’s $1.26M SEC fine

Some pointed out the regulator’s supposed hypocrisy, others told crypto-influencers to lawyer up, whilst a few poked fun at the reality TV star. The crypto community reacted…

Tether commercial paper exposure now under $50M, says CTO

Tether is also looking to become more transparent, having hired a new accounting firm to conduct regular audit and attestation reports to ensure its stablecoin is properly…

Disclosures Show Shopify’s CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months

Public records show that Shopify’s CEO Tobias Lütke has purchased close to $3 million in Coinbase shares during the last 60 days. Lütke became a Coinbase board…

Biden to Speed up Crypto Regulation as UN Warns of Induced Recession

The Biden administration has urged Congress to accelerate the rollout of a regulatory framework for crypto and digital assets as a United Nations report warns of a…

ARK Invest To Offer Crypto Separately Managed Accounts (SMAs) to Financial Advisors

On October 03, Cathie Wood’s ARK Invest announced a collaboration with Eaglebrook Advisors to offer its first crypto separately managed accounts (SMAs) to financial advisors and wealth…

John McAfee is the Creator of Bitcoin: TikTok Influencer Makes Wild Claim. Or is it?

John McAfee is the creator of Bitcoin. This is the remarkable claim of a TikTok influencer who calls himself Harry the Soul Coach. He says, “John McAfee…

Generated by Feedzy