Ankr partners with ssv.network to boost ETH liquid staking

Ankr has partnered with ssv.network in a bid to ensure a trustless and more secure form of ETH Liquid Staking.

Ankr, a multi-chain infrastructure provider for Web 3, DeFi, and the digital economy, announced on Wednesday, September 14th, that it has partnered with ssv.network, a leading distributed validator technology infrastructure protocol.

In a press release shared with Coinjournal, the team said the partnership would see Ankr integrate ssv.network’s advancements in distributed validator technology to improve risk management and validator performance.

Furthermore, the partnership will promote decentralisation across nodes in a completely trustless manner. 

Combining ssv.network’s technology with Ankr Liquid Staking will lead to increased monetary safety for all that hold liquid-staked derivatives from Ankr, the team added. 

Ankr added that it would continue to expand its operator and validator base in tandem with ssv.network over the next few months. This would ensure a timely and effective integration into the protocol’s distributed network of node operators. 

Extra steps will be taken to stress test, ensure stability, and also test out some of the staking and delegation incentives considered for the network, Ankr added. 

The Ankr and ssv.network teams said they would continue to work together to enhance the current staking and node-running experience for the growing liquid staking economy.

ssv.network Lead Alon Muroch commented that;

“We are excited to have Ankr as part of the SSV ecosystem. Ankr were one of the first ETH liquid staking pools in the space, their team has incredible tech foresight and the ability to execute fast. The same applies for their decision to become early adopters of DVT and build a next-gen staking pool on top of ssv.network. This is going to take staking to the next level.”

Filipe Gonçalves, Chief of DeFi at Ankr, added that;

“Ankr’s partnership with SSV.Network provides everything that our users desire from liquid staking – the highest levels of security and decentralization with stable and attractive yields. As the demand for staking increases, we will scale alongside it with the ability to provide staking rewards to any number of new users.”

This latest development comes at a time when the market is showing increasing interest in liquid staking solutions. According to Ankr, staking is currently a $9 billion business for the crypto economy, and it is projected to reach $20 billion following the Ethereum merge. 

The team believes that if this trend continues to grow and proof of stake becomes the dominant protocol, it could reach $40 billion by 2025.

Finally, the distributed operation of an Ethereum validator enabled by SSV will be complemented by Ankr’s own liquid staking infrastructure. This includes the delegation of funds to trusted nodes, the introduction of liquid staking tokens to free up user capital, and cross-chain integrations to bridge liquid staking tokens to different blockchains for maximum earning opportunities.