TL;DR

• The Simple DVT module is live and has been expanded to 4% of Lido’s stake. To fill capacity, stakers are incentivized to stake in the Distributed Validator Vault developed by Mellow.
• To celebrate this occasion, the SSV DAO is giving back to the Lido community with a Learn&Earn campaign on Galxe.
• Click here to participate and stand a chance to win from a 16,640 $LDO prize pool.

The Grand Mastery — Learn, Stake, and Earn $LDO!

The SSV Network DAO is thrilled to be part of the launch of Lido’s Simple DVT module on the Ethereum mainnet, a significant milestone for both SSV Network and Lido. To celebrate this achievement, SSV DAO is rolling out a unique Learn and Earn campaign.

In this campaign, you will learn about SSV, Lido, the Simple DVT Module, and the Decentralized Validator Vault. In addition, a prize pool of 16,640 $LDO will be shared amongst 100 lucky winners! This campaign marks a monumental moment in SSV’s journey and serves as a token of gratitude to the Lido community for their ongoing support.

Giving back to the Lido Community

On August 27th, 2021, Lido provided a crucial grant for the development of SSV. Since then, the ssv.network has launched mainnet, co-created a bustling ecosystem, and is currently securing over 1.5M staked ETH. Now, as Lido launches the Simple DVT module, the SSV DAO wants to give back to the community that supported the SSV Network protocol. 

Learn about DVT, Lido, and the Simple DVT Module

What is Lido?

Lido is a liquid staking solution for Ethereum. It allows users to stake their ETH while retaining liquidity through stETH, a token representing staked ETH plus rewards. This approach provides both the benefits of staking and the capital efficiency of having liquid assets. Until recently, Lido only had a curated set of professional node operators.

What is DVT & SSV?

DVT stands for Distributed Validator Technology. DVT enhances the security, reliability, and decentralization of Ethereum validators by distributing the duties of a single validator across multiple nodes. This means that no single point of failure can compromise the validator’s performance, increasing uptime and the Ethereum network’s health. 

SSV Network’s implementation of DVT is an open and permissionless network infrastructure for building decentralized staking applications. Anyone – solo staker or builder – can plug into the network seamlessly to distribute validators with zero coordination required. 

Purpose of the Simple DVT Module

Incorporating DVT into Lido via the SimpleDVT module brings substantial advantages to Lido. By allowing multiple machines to operate a single validator, DVT increases participation and collaboration among operators of all sizes, fostering a more diverse and robust network.

This integration of at-home validators with Lido facilitates greater inclusivity and provides a quick method for adding diverse Node Operators (NOs) to Lido’s set, potentially increasing the protocol’s mainnet node operators by over 600%.

Advantages of DVT in Lido:

• Fault Tolerance: Ensures network uptime and performance due to threshold signing of multiple node operators with different setups. 
• Increased Operator Count: Dramatically increases the number of node operators that can participate in Lido. 
• Decentralization: Distributed validators (DVs) can be run by multiple node operators, each with different clients, locations, and hardware types.
  
  Want to learn more about SSV performance, insights, and lessons learned from testnet? Check out the full report for SSV nodes on the Holesky testnet!

Decentralized Validator Vault

Initially, the Simple DVT module was capped at 0.5% of Lido stake. Following a Lido DAO vote, the module capacity was expanded to 4% of the stake, approximately 11,868 validators or 377,856 ETH staked into the protocol to fill the capacity of the Simple DVT Module.  

To help fill the capacity of the new module, the Decentralized Validator Vault was proposed and passed by the Lido DAO. The vault was developed by a Lido alliance member, Mellow, and will allow stakers to deposit into the vault and earn staking rewards + extra incentives. With Mellow, users can stake LST/LRT tokens in vaults that implement various reward-seeking strategies.

Make sure to check the eligibility criteria for incentives! 

• Mellow will provide access to the vault on their frontend that accepts ETH & WETH and stakes it to the Lido protocol to drive net-new stakes to the Simple DVT Module;
• Hold a position for a minimum of 3 days in the vault through the conclusion of the Snapshot period.
• Staking into the Vault will generate normal staking rewards + 90% of the incentives generated via the Simple DVT node operators.
• SSV Node operators will be eligible for 5% of the remaining half of the node operator incentives. 

A Guide to Participating in the Learn & Earn Campaign

1. Visit the Campaign Page: Visit the official campaign page on Galxe.
2. Follow the tasks: Connect your wallet and complete the few easy steps on the Galxe page.
3. Wait for the Timer: The raffle has a countdown timer. Once it ends, Galxe randomly selects eligible winners.
4. Check for Your Prize: After the raffle, check back to see if you’ve won. If you’re a winner, a ‘Claim’ button will appear on the campaign page.

Celebrating DVT Adoption 

Join the SSV DAO in celebrating the launch of the Simple DVT module and be a part of the future of staking. This Learn and Earn campaign is not just an opportunity to gain valuable knowledge and rewards but also a chance to join a growing, decentralized community. Happy learning, and good luck!

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