Introduction to SSV
The ssv.network is a fully decentralized, open-source, and trustless DVT Network that provides a reusable infrastructure solution for decentralizing Ethereum validators.
The protocol supports Ethereum’s validation layer by distributing validator operations to the network’s multiple non-trusting nodes (a.k.a Operators). Clusters of operator nodes operate validators on behalf of the staker and simultaneously help solve the fundamental issues of centralization, redundancy, and security that exist within Ethereum’s PoS consensus.
Ethereum PoS, Staking, & Validators
Ethereum’s new consensus layer represents the blockchain’s transition from Proof of Work (PoW) to Proof of Stake (PoS). Following the Merge, Ethereum miners no longer secure the network. Instead, validators owned by those willing to lock up their Ethereum in a smart contract will perform all network duties in a process called staking.
In addition to the 32 ETH capital requirement to join the Ethereum staking ecosystem, a staker must run dedicated software. A validator client along with both a legacy Ethereum node (execution client) and a Beacon Chain node (consensus client). This process is technologically complex, making staking Ethereum inaccessible to many people.
Managing Ethereum Validator Keys
When a validator is created, two separate BLS12-381 key pairs are generated – a Validator key (public and private) and a Withdrawal key (public and private). The withdrawal key is used only to withdraw and transfer rewards & staked ETH and should always be stored securely offline.
According to the current industry standard, the validator key must always be online to perform network duties by signing data transactions every ~ 6.4 minutes (an “epoch“). A validator earns ETH rewards each time it signs the data required by the Beacon Chain correctly and on time. However, keeping the validator key online and available presents connectivity and security challenges for even the most sophisticated users.
Securely storing a validator key while ensuring optimal connectivity and performance is perhaps the biggest pain point for Ethereum stakers and staking service providers. If a validator key goes offline for short periods, the staker risks losing out on opportunities to earn rewards, in addition to receiving minor penalties in subtracted ETH.
However, if a validator key goes offline for extended periods, is stored incorrectly, or gets hacked or otherwise compromised, the staker is subject to slashing. These are penalties incurred on the ETH a user has at stake or could lead to their validator being forcibly removed from the network.
The difficulty of managing validator keys has led to the rise of staking services to help streamline the process for end-users. Unfortunately, each staking service is vulnerable to a single operator or component failure since no staking solution can protect validator keys and optimize uptime and performance with absolute certainty.
Ethereum Staking Services & Associated Risks
Solutions for Ethereum staking range from fully-custodial services that retain control of a staker’s validator and withdrawal private keys. To non-custodial services that provide a staking infrastructure but allow users to maintain control of their private keys. Both have caveats.
Non-custodial services offer optimal security and privacy, but these come at the cost of a more technically challenging user experience. In addition, they are not fault-tolerant and can’t provide active failover for infrastructure components to protect against network-wide disruptions.
Custodial solutions are more convenient and user-friendly yet introduce the risk of severe slashing penalties, potential hacks, and centralized network control. If a malicious actor gains control of the service, all user keys can be compromised. Or, suppose the service makes a mistake and takes part in a slashable offense. Each validator will be subject to slashing as Ethereum’s anti-correlation rules dictate an exponential increase in penalties as more validators participate in the same event.
Avoiding such scenarios while optimizing for performance is no trivial task. In fact, services and individuals risk downtime and penalties each time they take their systems offline for reboots and routine system maintenance. Given the strict protocol rules, fault tolerance is difficult, if not impossible, to achieve.
Past efforts by operators to implement redundancy by running the duplicate validator keys on different validator clients have resulted in the majority of slashing events to date. In this instance, keys became active simultaneously in response to a call to perform network duties and breached Ethereum protocol rules.
SSV: The Next Generation of Staking on Ethereum
The SSV Origin Story
SSV (Secret Shared Validators), later labeled DVT (Distributed Validator Technology), was originally a research paper conceptualized in collaboration with members of the Ethereum Foundation.
At its core, the SSV protocol enables the distributed operation of an Ethereum validator. While ssv.network functions as the infrastructure layer designed to promote decentralization, diversity, fault tolerance, and resilience in the ETH staking space.
Protocol Design
ssv.network has two distinct layers that allow it to operate:
- SSV Peer-to-Peer (P2P) network layer
- Ethereum contract layer
SSV Peer-to-Peer (P2P) Network Layer
The SSV P2P layer is the execution layer. It reads the current operator list and validator KeyShare assignments from the Ethereum smart contracts and operates the validators on the network.
Ethereum Contract Layer for Network Governance
The Ethereum contract layer is crucial for network governance. Ssv.network operators will be assessed and ranked, resulting in a decentralized and transparent network score of their quality, experience, and service. Actions like adding an operator, creating a validator, and distributing fees occur on the contract layer.
DAO Governance
The decision-making component of the ssv.network is handled by the SSV DAO and those that vote on proposals. The DAO’s responsibilities are:
- Operator Scoring – On a 0-100% scale. The score is essential for stakers to decide which operators to use. In addition, DAO governance decisions can remove an operator from the network.
- Network Fee – The network fee is a fee stakers pay to use ssv.network to run their validators. The DAO controls this fee and can be changed by a governance decision.
- Treasury – The DAO is responsible for distributing grant funds to initiatives the community has voted to pass. The DAO also makes other treasury decisions for things like accumulated fees and growth initiatives for the protocol.
- Other Decisions – The DAO decides on critical protocol decisions such as the roadmap and programming improvements.
These will be discussed at length in the DAO section.
How Does ssv.network Work?
The ssv.network is a unique protocol that enables the distributed operation of an Ethereum validator by utilizing Distributed Validator Technology (DVT). It allows a validator private key to be encrypted, split, and distributed to nodes so that no single node operator has to trust another to perform validator duties. This enables a certain number of nodes to be offline without affecting network performance and preventing operators from making unilateral decisions on behalf of a validator. The result is a decentralized, fault-tolerant, and highly secure approach to staking on Ethereum. Look at our documentation for an in-depth view of the components in the ssv.network DVT stack.
Fault Tolerance
The protocol encrypts an Ethereum validator private key and splits it into KeyShares. These KeyShares are distributed to multiple non-trusting nodes in the network run by operators. Delivering robust, fault-tolerant, active-active redundancy for Ethereum stakers and service providers.
If a KeyShare is unavailable or an operator node is faulty (due to scheduled maintenance, a hack, an error, etc.), the rest of the KeyShares will respond, and the validator will continue its duties without pause.
SSV is fully customizable and requires zero coordination between validators and operators. Creating the possibility to open up unique and complex staking configurations will transform the entire Ethereum staking ecosystem.
Security
Since the validator’s private key is encrypted and split into KeyShares, nodes only need to have their key share online. This means the validator’s private key can be safely stored in cold storage. In addition, no single node can recreate a validator key signature on its own or make unilateral decisions on behalf of a validator, increasing security by an order of magnitude.
Liveness
SSV mitigates risk and reduces failures by combining individual nodes into a robust, decentralized network that can outperform any individual staking service in redundancy, uptime, and security. Validators run portions of their validator key (KeyShares) across different staking setups run by independent operators joined by a consensus layer. This means that nodes in the network do not need to trust each other to operate, and the protocol can tolerate an offline or faulty node without affecting validator performance.
The ssv.network is a middle layer between a Beacon Chain node and a validator client. It manages the splitting and distribution of a validator key and uses the KeyShares on multiple nodes to reconstruct a data signature. For optimal security and fault tolerance, a threshold of nodes are needed to recreate the key for signing. For example, in an SSV configuration of four nodes, three are needed to recreate a validator key signature. This allows one node to be faulty or offline without affecting the validator.
Diversity
The Diversity of validator components is essential to make the Ethereum network more robust. The ssv.network allows operators to configure their node to operate their KeyShares however they see fit. They can leverage different validator clients on completely different infrastructures and be anywhere in the world.
This enables stakers using ssv.network to diversify their validators (and risk) between various operators, geolocations, validator clients, and other infrastructure vectors. If one of the nodes running a validator is faulty, suffers from poor performance, or commits a slashable offense, the validator will continue its duties despite that node’s issues.
Who benefits from SSV?
Solo Stakers
The main benefit DVT brings to solo stakers is that it removes the technical barrier for running a validator node. Running a single validator instance is susceptible to technical issues, hacking, and high maintenance costs. Stakers that want to run their own validators no longer have to supply the infrastructure/hardware to participate in staking.
A solo staker can use ssv.network to run their validator in a decentralized manner, on par with the performance of large staking services, while still having complete control over their validator keys and custody of their funds.
Staking Pools/ Liquid Staking Protocols (LSPs)
Due to standard validator setups, staking pools and LSP (Liquid Staking Providers) must have varying levels of single-operator trust. This is because gains and losses are socialized throughout the pool. They are also reliant on operators to safeguard signing keys because, until now, there has been no other option for them.
Even though efforts are made to spread risk by distributing stakes across multiple operators, each operator still manages a significant stake independently. Relying on a single operator poses immense risks if they underperform, encounter downtime, get compromised, or act maliciously.
By leveraging DVT, the trust required from operators is significantly reduced. Pools can enable operators to hold stakes without needing custody of validator keys (as only key shares are utilized). It also allows managed stakes to be distributed between more operators (e.g., instead of having a single operator managing 1000 validators, DVT enables those validators to be collectively run by multiple operators). Diverse operator configurations will ensure that if one operator should go down, the others will still be able to attest. Resulting in redundancy and diversification that leads to better performance (maximizing rewards) and resilience.
Another benefit to minimizing single-operator trust is that staking pools can allow more open and permission-less operator participation. By doing this, services can reduce risk and support Ethereum decentralization by using curated and permissionless operator sets. For example, by pairing home or more minor stakers with larger ones.
Staking Services / Infrastructure Providers
Staking providers and institutions managing many validators can leverage DVT to mitigate the risks associated with large-scale single validator instance setups. By distributing their infrastructure, they can introduce redundancy to their operations and diversify their infrastructure components to achieve greater performance and eliminate single points of failure in any single location or client type.
Staking providers invest heavily to work around operational costs in development, DevOps, and comprehensive insurance policies. With DVT distributes responsibility between nodes, resulting in much lower operational risk and expense.
DVT can bridge the way for institutions that want to join ETH staking by reducing risk and providing much-needed transparency and trust required. By having permissioned sets of nodes that comply with KYC/AML regulations, institutions can know precisely the operators they are staking with, including slashing protection and redundancy benefits of the technology.
Promoting Decentralization at Scale
The ssv.network has opened up new possibilities for collaborative validator node configurations, allowing staking services, at-home validators, infrastructure providers, and groups to build customizable and unique clusters. This benefits both centralized and decentralized services, as they can join forces on the ssv.network to reduce risk and strengthen Ethereum. By creating SSV node clusters, the network becomes more resilient, ensuring that if a prominent centralized service goes offline, other operators within the cluster will back them up, maintaining the network’s functionality.
Additionally, SSV enables the use of diverse components, such as validator clients and cloud providers, without the need for active-passive redundancy. Leveraging multiple elements simultaneously through ssv.network, stakers, and staking services can enhance the diversified use of these components, mitigate centralization, and protect against network-wide failures.
Overall, SSV promotes collaboration and safeguards the Ethereum network.
ssv.network: A DVT Network
Active-active redundancy forms the foundation of ssv.network. Small DIY stakers, big staking pools, and everyone in between will find the network open and easy to use. In addition, anyone is eligible to provide services as an operator and get compensated for doing so. And if you’re a builder, you can use ssv.network smart contracts to deploy decentralized staking applications and tooling easily.
Because the protocol is open-source, anyone can expand and develop different services on top of ssv.network. It becomes easy to imagine staking pools where operators leverage the full potential of ssv.network to enable true decentralization from the operational and withdrawal perspectives.
Stakers will now have a transparent view of operator ranking scores and use this information to choose the ones they want to manage their validator(s). This provides stakers with ultimate choice and promotes decentralization across the Network.
Participants in ssv.network
Stakers
Services or individual Eth holders that deposit 32 Eth to run a validator that earns rewards by securing the Ethereum blockchain. Stakers pay fees to operators in SSV tokens and receive ETH rewards for signing data transactions for the blockchain.
Operators
Infrastructure providers that manage KeyShares and operate validators on behalf of stakers. Operators charge stakers a fee for their services in SSV Tokens. Each operator is ranked on a scale of 0-100% based on the overall quality of service they provide.
Liquidators
Actors work behind the scenes to keep the network solvent by signaling stakers when they have insufficient balances to pay their operators. Liquidators receive the liquidation collateral for successfully liquidating an account that has run out of balance.
DAO
The decentralized community is responsible for governing and making decisions on behalf of the ssv.network. The DAO handles testnet rewards distribution, grant requests and funding, partner programs, validator and operator guidelines, future development, etc.
SSV Token
The ETH staking space is growing, and a potential staker has various options for running a validator. Because SSV offers stakers a much higher level of security and reliability, they pay a fee in SSV tokens ($SSV) to the operators they select to manage their validators and a network fee to the DAO.
SSV Token Utility
The SSV token is used as the network’s payment layer to align the interests of the network participants.
- Transparency – The protocol promotes a ‘free market’ of staking providers (operators) offering their services to stakers and competing with each other for TVL (Total Value Locked).
- Cost Optimization – Stakers have complete control over their cost structure when choosing operators on the network. Stakers can also redistribute their KeyShares to different operators to reduce their costs.
- Inflows > Outflows – Stakers must hold a minimum amount of SSV Tokens as collateral to avoid potential liquidation. This covers operator costs for a set period and helps keep the network solvent by preventing operators from not being paid for their duties.
How does it work?
Each operator can determine their fee and compete with other operators for stakers. Stakers choose multiple operators to manage their validators and must keep a minimum SSV balance to pay their operator fees.
Payment cycle flow:
- Operators receive SSV Tokens from stakers for managing their validators and generating ETH rewards on their behalf.
- Stakers pay SSV tokens to operators and receive ETH rewards directly from the blockchain.
- Operators never hold or have access to a staker’s ETH deposit principle or earned rewards. The operator’s role is to operate and maintain the validators generating the ETH rewards. They do not play any part in distributing those rewards to stakers.
Validator Costs & Operator Selection
Stakers will distribute their validator KeyShares to at least four operator nodes in ssv.network. When choosing specific operators, stakers should consider the following: performance rating, verified status, client diversity, network effect, and price.
Each operator determines their specific fee in SSV tokens as their yearly operator fee. For example, if all four operators price their service at 1 $SSV per year, the total annual cost for the staker will be 4 $SSV. Therefore, the staker must deposit 4 SSV tokens into their wallet to pay their chosen operators for an entire year. Stakers can deposit less than a whole year’s worth of SSV, providing the amount is more than their “liquidation collateral“.
Fee distribution from staker to operator occurs continuously with each passing block, as the staker is effectively making ‘micro payments’ to their node cluster on an ongoing basis. Instead of lockups or an obscure one-off payment model, ssv.network allows stakers maximum transparency, flexibility, and capital efficiency regarding fees.
If the staker wishes to discontinue their service, they can opt-out at any time and retrieve the unused SSV balance from their wallet. When the staker removes their validator from the network, the operator cluster will stop managing it. Now, the staker can migrate to a different service or DIY without fear of penalties or slashing.
Network Fee & Governance
The ssv.network is open-source and decentralized, with governance falling on the community or DAO. Only SSV token holders can submit proposals and vote on them, allowing them to shape the DAO.
In addition to operator fees, stakers also pay a network fee to use the network and SSV protocol. The network fee is a fixed cost per validator determined by the DAO that is added to the yearly operator costs. The network fee flows directly into the DAO treasury and funds further ecosystem development and activities that the DAO has approved.
Like operator fees, the network fee is deducted from a staker’s $SSV balance over time. However, the network fee is a constant factor in a staker’s cost, regardless of the operator cluster they choose.
Factors that determine the Network Fee:
- # of validators/ETH staked – The amount of ETH staked on ssv.network determines the network’s ability to generate fees. As the amount of ETH staked increases, the network fees generated also increase, which is good for the network’s overall health.
- ETH staking APY – Ethereum’s APY will ultimately determine the network’s ability to raise or lower network fees. As APY increases, so can the network fee.
- Operator charges – The network fee should always be lower than the average operator cost. For example, if the average cost of using a node on the network is 1 SSV token per year, we can assume that the network fee will be less than 1 $SSV per year.
Operator – Rewards & Fee Administration
ssv.network is unique in the transparency and free-market competition it introduces to the ETH staking space. Operators compete with each other for stakers on many levels, including price. Ultimately, free-market competition will empower stakers to lower their costs and optimize their staking returns.
It’s important to note that operators in a cluster act together to generate ETH rewards for stakers. One of the benefits of SSV is that if one node is offline when a call from the Beacon Chain goes out to a validator, the rest of the nodes in the cluster will execute the duty successfully. When this happens, all the nodes in the cluster receive their SSV reward for the given block. Therefore, the fault tolerance provided by SSV is just as valuable to operators as it is to stakers.
Operator Fee Change
Operators can change their fees anytime. However, there are restrictions on the protocol level that limit the operator’s ability to raise prices rapidly. This protects stakers from sudden spikes in their usage costs.
Operator fee change guidelines
- Change request – An operator broadcasts their new fee to the network.
- Waiting period – After the new fee is broadcast, the operator must wait a predetermined number of days before executing it, allowing stakers time to react. Stakers can choose to add SSV tokens to cover the additional costs or change operators during this time.
- Execution period – After the waiting period ends, the operator will have a predetermined number of days to execute the change. If the operator does not execute the change before the expiration, the fee will remain the same. This prevents a situation where an operator requests a fee change and waits until long after the waiting period is over to implement it.
Operators can lower their prices to whatever degree and as often as they wish but are limited in their ability to raise their fees. A DAO vote will ultimately determine the exact % limitation per fee change request. For example, if set at 5%, an operator will not be able to raise their fee by more than 5% at each request.
Factors that determine operator fees:
- # of KeyShares – The more KeyShares an operator manages, the more SSV they can generate.
- Pricing – The more competitive an operator is with their pricing, the more attractive they will be to stakers.
- Performance – High operator performance over time will likely be more attractive to stakers.
- Dual role – Many network operators are also stakers, and there is a high likelihood that staking services will offer SSV-based staking to their users. In such a scenario, operators that generate rewards from the network will also divert a portion of their earnings back into the DAO treasury to pay network fees for their validators.
- SSV token price – The higher the price of SSV, the lower the average operator fee is likely to be.
- Diversity – Stakers will likely prefer selecting a diversified group of operator nodes for better fault tolerance and to decentralize their staking risk. For example, if all the nodes in a cluster are running a Prysm validator client, a node that runs a different client, like Lighthouse, might be more appealing to stakers.
Liquidation & Liquidation Collateral
To ensure that operators are always compensated for their efforts and keep the network solvent, each staker must deposit a sufficient balance of SSV tokens into their account for each validator they run on the network. This is known as liquidation collateral.
The collateral amount is derived from the operator fees to maintain a sufficient balance to cover operator costs for a set number of blocks. This is the “liquidation threshold period“, a period of time (block height) configured and decided on by the DAO. Because stakers pay operators continuously, if their SSV token balance drops below the threshold balance, they are at risk of liquidation. When a validator is liquidated, it will cease to perform network duties.
Liquidation collateral is the incentive for liquidators to constantly monitor the network and liquidate accounts in default, triggering the validator’s operator cluster to terminate the service and stop managing the validators.
Effects of SSV Token Price Fluctuation
Operators have the flexibility to change their fee structure within certain guidelines. When the price of $SSV appreciates, it makes sense that operators will react by lowering their fees. Of course, the opposite will be true when $SSV depreciates. Operators that are not competitive and reactive to market fluctuations risk losing stakers to more cost-effective operators.
The SSV DAO
A DAO is the epitome of decentralization and transparency as it exists to promote decentralized governance and shield against the consolidation of power. Therefore, the SSV DAO is a natural extension of the decentralized and open-source protocol.
The SSV DAO was created for the sole purpose of decentralizing ownership of ssv.network, and to stand as its official governing entity. Community members can propose and vote on new initiatives, protocol changes, fee structures, and treasury-related decisions and request grants for funds to develop on ssv.network. To keep the protocol agnostic and ensure the ecosystem’s health, voting is limited to SSV Token holders.
The SSV Token governs the protocol and treasury and will comprise the majority of the DAO’s treasury holdings. These funds will be used as seed rounds for grants and to execute and enforce the decisions being made by the DAO.
For the DAO to maximize income, community members mainly contribute to:
- Protocol development and decisions
- Determining protocol and service fees
- Supervising operator activity
- Assisting with growing the ecosystem
Why Use a DAO?
Decentralized governance is the natural extension of a decentralized protocol. In line with its principles, SSV introduces a more decentralized and secure ETH staking infrastructure. The protocol permits any person or entity to become an operator and earn rewards for running validators on behalf of stakers. To ensure that decisions are made in the network’s best interest, only SSV token holders can vote. A DAO:
- Provides the best way to coordinate between different parties in the ecosystem.
- Allows the community to discuss and vote on protocol and network decisions openly.
- Sets fair network fees.
- Decides fairly on treasury allocation and use.
The only viable path forward for ETH staking is decentralization with zero usability compromises. SSV technology, in combination with strong community governance, offers exactly that.
Responsibilities of a DAO Member
DAO members define the initial parameters of the SSV DAO and propose and vote on new initiatives, protocol changes, fees, and treasury-related items. Other responsibilities include
- Setting and adjusting protocol fees – the percentage (%) of fees the DAO is entitled to receive.
- Operator supervision – voting negligent operators out of the network.
- Treasury decisions – DAO use of accumulated fees, grants, and investment income.
- Roadmap and protocol improvement-related decisions.
Roles
Foundation
With the DAO’s share of responsibility and autonomy is only expected to increase. A significant portion of the DAO’s activities can not be limited to only the online realm. A Foundation is a legal structure that will execute DAO decisions, specifically ones that require “meatspace” operations. It will further provide the DAO’s members and contributors with the legal wrapper intended to provide assurances and protection from the possible risk of being associated with each and every action performed by the DAO.
dGC
The dGC will update the community on DAO decisions and ensure transparency with stakeholders. The dGC will also derive a minimum viable governance and operational framework for the DAO and its committees, including a compensation model and onboarding procedures.
Multi-Sig Committee
The DAO Multi-Sig Committee members are the gatekeepers of ssv.network. The committee’s main responsibilities are to:
- Ensure transactions approved by the DAO are executed.
- Exercise veto power over proposals they determine are poorly drafted or not in the network’s best interest.
- Reject ‘high-risk’ operators for the protection of SSV protocol users.
- Force malicious or negligent operators to exit the network (i.e., operators that do not perform their duties or have low performance rates over time).
Ambassadors
Ambassadors play a vital role in supporting and promoting a network. They serve as advocates, communicating on behalf of the network in public settings and helping to localize communications. Ambassadors also contribute to education efforts, generating thoughtful discussions and fostering a deeper understanding of the network.
They take on important moderation duties, promptly responding to community questions, moderating local community channels by removing spam and inappropriate messages, and engaging in daily community maintenance activities such as greeting members, encouraging discussions, and updating on proposals.
Ambassadors act as a bridge between the community and the team, promptly communicating community questions and sentiments to the team. Beyond moderation, ambassadors participate in community calls, create initiatives, and execute plans to support the network’s growth and development further.
Decentralized Marketing (D-Marketing)
In addition to decentralizing staking, ssv.network wants to decentralize the ownership of marketing efforts. However, this is easier said than done. The big question is – can a group of ‘unknown’ individuals in a decentralized marketing machine outperform a group of people trained for the job? We believe that while they might not be able to initially, the final result will better represent the community behind it. And in the long run, we believe an incentivized community will be the outcome.
But how do you find the right people to hand such an important job to? When you build a community (Discord, Telegram, or otherwise), a few dominant, well-respected users stand out from the crowd after some time passes. These selected few (ambassadors) understand the project’s vision and represent the community as their unofficial representatives.
However, there must be an autonomous, properly funded incentivization mechanism to make them official representatives. Currently, resources are being allocated periodically to the ambassadors to manage relative to our D-Marketing efforts. Think of it as a multi-sig committee or a grants program for marketing.
- DIY — An ambassador or community member completes the task.
- Delegated Bounty programs — Ambassadors decide on the prioritization and monitor the allocation of the bounty.
- Delegated Contracting / Tender — Long-term provider (i.e., influencer, newsletter, sponsorship), decided, prioritized, and governed by the ambassadors.
Proposals, Grants, and Voting
- A proposal or grant request should start its life as a discussion on the ssv.network forum to introduce the idea to the community and see if it gains traction. However, anyone with 100 SSV tokens can submit a request using the template on the forum. The community must start voting on a proposal within one month of its submission.
- Voting happens on snapshot, an off-chain voting dApp developed by Balancer 5. A vote on a proposal lasts seven days, requiring a majority of positive votes. SSV token is used to vote on all network decisions, with the amount of $SSV in a user’s wallet determining their voting power.
- A minimum quorum requires 5% of the circulating SSV supply based on the amount of CDT converted to SSV and newly minted SSV tokens. The date and time a vote has ended is called the “vote expiry.”
- Execution of any passed vote is done in coordination with the Multi-Sig Committee according to the proposal’s specifications. Implementation will occur within 60 days of the vote expiry.
Grant types
- Dashboard development – building on top of the SSV protocol
- Integrations – connection to other protocols and blockchains
- Community building – social engagement & promotion
- Localization – integrating communities and languages
- Dapp development
- Liquidity tokens
DAO-related links