Ankr Partners With SSV.network To Improve ETH Liquidity Staking

At the time of writing, the global staking market is a $9 billion business for the crypto economy, which is projected to become $20 billion following the Ethereum merge. Many analysts believe that it will reach $40 billion by 2025, provided that this trend remains stable and PoS becomes the dominant protocol.

According to a recent press release, Web3 infrastructure provider Ankr has formed a strategic partnership with open-source and decentralized protocol SSV.network.  The partnership mainly focuses on simplifying infrastructural access for ETH liquidity staking. As a result, Ankr will integrate the ssv.network’s advancements in distributed validator technology as part of the partnership.

Ankr’s partnership with ssv.network

Ssv.network is a fully open-source protocol that works to promote decentralization across nodes in a trustless manner. The partnership with Ankr Liquid Staking will result in increased monetary safety for liquid-staked derivatives from Ankr. The press release further states that the partnership will give anyone trustless access to staking by providing a stable infrastructure. To test out some of the staking and delegation incentives considered for the network, additional steps will be taken to stress test and ensure stability.

The partnership will result in the distributed operation of an Ethereum validator which will be complemented by Ankr’s liquid staking infrastructure. This includes cross-chain integrations to bridge liquid staking tokens to different blockchain networks, the delegation of funds to trusted nodes, and the introduction of liquid staking tokens to free up user capital. As a result of this partnership, users will get the most accessible pathway for node operators of all sizes while reducing technical and financial hurdles.

What is Ankr?

Ankr is a decentralized Web3 infrastructure that provides a foundational layer of Web3, DeFi, and the digital economy on more than twenty blockchain networks. It has an RPC node marketplace which allows an independent node provider to monetize node infrastructure. Web3 developers can also access Ankr’s RPC services using a pay-as-you-go model secured by the Ankr token. Ankr is considered a pioneer in the liquid staking space. The project also democratized access to staking on multiple developers, DeFi users, Proof-of-Stake chains, and platforms.

About ssv.network

Ssv.network is a decentralized staking infrastructure that provides users with the distributed operation of an Ethereum validator. It provides an open-source protocol for simple and scalable access to ETH staking. SSV technology stands for Secret Shared Validator but is labeled as Distributed Validator Technology (DVT).  With SSV technology validator nodes can split its keys between four separate operators to create a fail-safe system for node operation. DVT mitigates slashing and downtime risks while promoting client diversity, decentralization, and fault tolerance.

Conclusion

The partnership with the ssv.network will enable Ankr to increase its growing community of third-party node operators, which will improve safety for all liquid-staked derivatives holders from Ankr.