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HomeETHAnkr joins hand with ssv.network to offer secure Ethereum Liquid Staking

Ankr joins hand with ssv.network to offer secure Ethereum Liquid Staking

On September 14, Ankr, a multi-chain framework provider for the digital economy, DeFi, and Web-3 announced a partnership with ssv.network, a top distributed validator innovation framework protocol, to certify a trustless and safer form of Ethereum Liquid Staking.

As per the recent press note the Ankr team in collaboration with ssv.network says this partnership will help Ankr in boosting risk management and validation performance in disseminated validator innovation

In addition to that the Ankr team said the collaboration would advance decentralisation in a totally trustless manner across the nodes.

Ankr, and ssv.network in a joint statement said both teams will work together to develop the economy of liquid staking by improving the node-running experience and current staking.

Alon Muroch, lead of ssv.network said, “We are delighted to have Ankr as a member of the SSV ecosystem. The team of Ankr has great tech foresight and capacity to perform fast and they were the first in the domain of ETH liquid staking pools. The same applies to their decision to turn out to be early adopters of DVT and construct a next-generation staking pool on top of ssv.network. This will take staking to a higher level.”

Ankr Defi chief, Filipe Goncalves, further added, “Ankr’s association with SSV.Network gives all that our clients want from liquid staking the biggest levels of safety and decentralization with steady and appealing yields. As the staking demand expands, we will scale along with the capacity to give staking rewards to any new clients.”

Result of Ankr and ssv.network Collaboration 

Ethereum liquid staking

The group added that combining the technology of ssv.network’s with the Liquid Staking of Ankr would lead to an increase in financial well-being for all that hold liquid-staked derivatives from Ankr.

Ankr further added that over the coming few months, Ankr would keep on extending its administrator and validator base pair with ssv.network.  This would ensure that node administrators’ coordination into the distributed network protocol is timely and viable.

Ankr also added, “Additional steps would be executed to guarantee stability, stress test, and, furthermore, try out a portion of the delegation encouragement and staking considered for the protocol.”

This most recent collaboration comes at a time when the market is showing expanding interest in solutions for liquid staking. As per Ankr, at the current time, the business of liquid staking is worth $9 billion for the crypto industry and it is expected that after the merge of Ethereum and Kucoin, this could reach a height of $20 billion.

Moreover, the team had a firm belief that by 2025, staking could further expand to $40 billion, if this pattern proceeds to develop and PoS (Proof of Stake) turns into the predominant protocol.

At last, Ethereum validator distributed activity empowered by SSV will be supplemented by Ankr’s own liquid staking foundation.

This incorporates the use of liquid staking tokens to loosen up client capital, the delegation of assets to confided nodes, and cross-chain combinations to connect liquid staking tokens to various blockchains for the highest procuring opportunities.

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