SSV Trustless Liquid Staking
What is SSV Trustless Liquid Staking?
Trusting an intermediary with your blockchain-based assets defeats the purpose of blockchain. Current Liquid Staking options all require trust and permission at some part of the process. The reason that a lot of the staking solutions aren’t fully trustless is that they use custodial validators rather than non-custodial ones. Unfortunately, you, the user, have no transparency on who these validator node operators are and no decision on which one to trust with your delegated assets.
SSV Trustless Liquid Staking is a staking product that is entirely trustless and non-custodial. The Distributed Validator Technology that SSV.network has created ensures that there’s a network of 4 nodes, reducing slashing risk at all times. If one of the nodes goes down, the other nodes will pick up the slack. Specifically, in order to validate transactions, 3 out of the 4 must approve the transaction for it to go through.
SSV Trustless Liquid Staking runs on the Ethereum network and currently only on Goerli Testnet.
Currently, unstaking is not available, as this functionality is not yet supported by Ethereum. It will be enabled after in the Shanghai upgrade that will follow The Merge in 6-12 months, apx. ~Q2/Q3 2023.
To bring more transparency and trustlessness to Liquid Staking, Ankr is teaming up with SSV.network, an Ethereum Foundation project, to implement Distributed Validator Technology into the Ankr Liquid Staking protocol.
SSV Technology is the next iteration of Ankr's strategy toward becoming fully trustless, permissionless, transparent, and decentralized. Furthermore, upon successful implementation, this update will help Ankr adapt to the changing staking ecosystem that Ethereum is rolling out as part of The Merge (opens in a new tab) and the Shanghai upgrade (opens in a new tab).
- StakingPool (opens in a new tab) — staking functionality.
- asETHc (opens in a new tab) — Liquid Staking token asETHc.
SSV Trustless Liquid Staking supports several options, including hot and cold wallets. View a complete list at Compatible wallets.
SSV Reward-Bearing Staked ETH (asETHc)
asETHc is a new reward-bearing token from SSV Trustless Liquid Staking. It enables instant liquidity for staked ETH. asETHc represents the staked ETH plus all future staking rewards.
To reflect the accumulated rewards, the redemption price of asETHc in ETH changes over time, meaning that 1 asETHc gradually becomes worth increasingly more than 1 ETH.
The amount of asETHc you hold will not increase. Instead, the price of asETHc is expected to grow in ETH value, as your asETHc contains your principal stake plus earned staking rewards.
After in the Shanghai upgrade that will follow The Merge in 6-12 months, so in ~Q2/Q3 2023, SSV plans to enable unstaking, so you can redeem your asETHc for your original staked ETH plus your staking rewards.