• SSV Network launched a $50 million ecosystem growth fund to grow its liquid staking infrastructure.
• Liquid staking has seen strong growth due to the upcoming Ethereum Shanghai upgrade.
• Lido DAO is the biggest liquid staking provider in the world and SSV’s token has grown by 91% this year.
SSV Network has been making waves in the blockchain industry in the past year. The company has launched a $50 million ecosystem growth fund to help grow its liquid staking infrastructure. Liquid staking has been seeing strong growth in recent times due to the upcoming Ethereum Shanghai upgrade. This has allowed many companies to benefit from the new technology and more investors have been entering the space.
Lido DAO has emerged as the biggest liquid staking provider in the world. The company has seen its tokens grow by over 91% this year, making it one of the most successful projects in the space. SSV Network has followed a similar trajectory, launching its own $50 million fund to accelerate the growth of its liquid staking infrastructure.
The fund will be used to support developers working on the distributed validator technology (DVT) solution. SSV Network has already allocated a $3 million fund and $10 million in 2022 to projects like Ankr, Stader, and Moonstake.
The company is also looking to expand its reach to other areas of the blockchain industry, such as DeFi and NFTs. It is already working on partnerships with leading companies in the space to expand its reach.
This move is a testament to the company’s commitment to the industry and its commitment to providing the best technology for liquid staking. With the fund in place, SSV Network is well positioned to continue its growth and become a leading provider of the technology in the coming years.