Decentralized protocol SSV Network DAO has launched a $50 million ecosystem fund to support the development of Distributed Validator Technology (DVT)-based applications.
The funds were secured from various industry investors including Digital Currency Group, OKEx, HashKey, NGC, Everstake, HackVC, GSR, Chorus.One, SevenX, and 1kx.
The fund is the first dedicated solely to DVT use cases and aims to solidify DVT as critical Ethereum infrastructure.
DVT is an infrastructure primitive that enables validators’ key sharing between non-trusting parties on the Ethereum network, and is considered one of the key developments in Ethereum’s roadmap.
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 Ecosystem Fund.