SSV Network and Ether.fi Launch Learn and Earn Campaign with $50K Prize Pool
Tony Kim Aug 27, 2024 09:54
SSV Network and Ether.fi have partnered to launch a Learn and Earn campaign, offering participants a chance to win from a $50,000 prize pool by learning about DVT.
SSV Network and Ether.fi have announced a groundbreaking partnership aimed at revolutionizing liquid restaking through Distributed Validator Technology (DVT). According to SSV Network, this collaboration will be celebrated with a two-week Learn and Earn campaign on the Galxe platform, offering participants a chance to win from a $50,000 prize pool in ETHFI.
Campaign Details
The campaign invites participants to deepen their understanding of SSV Network, Ether.fi, and the importance of base-layer decentralization. By completing various tasks, including quizzes and educational activities, participants will become eligible to win from the prize pool, which will be distributed among 150 random winners. Additionally, participants can earn Ether.fi Season 3 loyalty points as an extra incentive.
About Ether.fi
Ether.fi is a leading liquid restaking protocol on Ethereum, allowing users to stake ETH or stETH and receive eETH, a natively re-staked liquid staking token (LRT). The LRT earns staking rewards across popular networks and the DeFi ecosystem, accumulating loyalty points and other partner rewards to boost yield. With over 6,500 validators running on SSV Network, Ether.fi is a significant player in the decentralized finance landscape.
About SSV Network
SSV Network is an open-source, decentralized DVT infrastructure that enables developers and solo stakers to distribute validators among globally decentralized node operators in a trust-minimized manner. By integrating DVT, restaking applications can utilize highly performant node operators to enhance their products.
How SSV Enhances Ethereum’s Base Layer
The integration of DVT into Ether.fi aims to bolster the security and resilience of Ethereum’s base layer. Distributing validator duties across multiple nodes minimizes the risk of single points of failure and ensures fault tolerance, even if some nodes go offline. This setup enhances Ethereum’s crypto-economic security and resilience.
Importance of DVT in Restaking
1. Enhanced Resilience: The integration of SSV fortifies Ether.fi’s restaking operations, making them more resilient against client bugs, geographical risks, and single points of failure.
2. Strategic Node Operator Selection: Ether.fi selects node operators from the SSV Network based on geographic location, infrastructure setup, and client diversity, maximizing decentralization and alignment with Ethereum’s ethos.
3. Enterprise-Grade Cluster Configuration: Ether.fi employs a robust cluster size of seven entities, allowing up to two node operators to go offline without impacting validator performance, ensuring high availability and reliability.
4. Key Security and Custody: Ether.fi allows stakers to retain control of their keys, with DVT splitting the validator key into encrypted keyshares for added security, making it difficult for malicious actors to compromise a validator while keys are stored offline.
How to Participate in the Campaign
To join the Learn and Earn campaign, participants should log in to the official campaign page with their wallet, complete the outlined tasks, and enter the raffle. Winners will be randomly selected once the countdown timer ends, and participants can check back to claim their prizes if they win.
This campaign offers a unique opportunity to learn about distributed restaking with Ether.fi and SSV while standing a chance to win substantial rewards. The initiative underscores the growing importance of DVT in enhancing the security and resilience of Ethereum’s base layer.
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