About

SSV Network is a staking infrastructure on the Ethereum blockchain. It enhances Ethereum's staking capabilities by distributing validator operations, ensuring greater resilience and security. The network supports diverse staking applications and is managed by a DAO, which governs through collective decision-making and voting.

History

SSV Network is developed by Blox, the founders of non-custodial ETH staking tool Blox Staking and previously, crypto accounting, tracking, and management platforms Blox.io, and CoinDash. CoinDash conducted an ICO of CDT tokens in July 2017. During the ICO, an incident occurred where a malicious address was swapped out for the original ICO address published on the project’s website, and public sale participants sent 43,000 ETH (equivalent to ~$7 million at the time) to an apparent wrong address controlled by a malicious actor. Public sale participants received their CDT allocations, and the malicious address sent 30,488 ETH back to the project team in three installments.

In March 2018, CoinDash rebranded to Blox.io. In 2021 Blox closed down the Blox.io platform and pivoted to develop Blox Staking. In February 2021, Blox Co-Founder Alon Muroch was part of a team that received a grant from the Ethereum Foundation to build a DVT protocol. Blox is now independently building a DVT protocol, SSV Network, and conducted a redenomination and rebrand of CDT to the SSV token in October 2021. SSV Network (presently on testnet), involves users with at least 32 ETH supplying their choice of network operators with key shares derived from existing validator keys for distributed operation.