Open source and decentralized protocol SSV Network DAO has launched a $50 million ecosystem fund to support the development of Distributed Validator Technology (DVT) based applications.
The fund will be used to “solidify DVT as critical Ethereum infrastructure,” according to ssv.network. DVT is an infrastructure primitive that enables validators’ key sharing between non-trusting parties on the Ethereum network.
It helps to generate ETH rewards for stakers and provides high availability and reduces infrastructure costs for larger validators.
Over 20 companies are already building on top of SSV Network’s DVT protocol and that number is expected to increase with the launch of the $50 million Ecosystem Fund.