SSV launches token staking and moves fees to ETH; network secures about 7.4M ETH

SSV Network (SSV Labs, SSV DAO)/SSV distributed validators

SSV holders can now stake SSV for cSSV and earn ETH from network fees and from running Effective Balance Oracles. The upgrade also switched operator and network fees from SSV to ETH and made cluster accounting track each validator's real balance, up to 2,048 ETH after Ethereum's Pectra upgrade.

• Scale: ~7.4M ETH, ~118,000 validators, ~1,900 node operators.
• First oracle operators, elected by the DAO: Kraken, InfStones, Ethernodes and SSV Labs.
• Audited by Quantstamp; Immunefi bug bounty up to $250,000.
• Elad Gafni (SSV DAO): 'This is not a new yield product.'