SSV Community just lately revealed SSV 2.0, a brand new bootstrapping mannequin to carry “Based mostly” Purposes (bApps) to Ethereum. The brand new infrastructure framework goals to boost the community’s safety and allow “really decentralized” bApps with out compromising Ethereum’s core values.
SSV Community To Convey ‘Based mostly Purposes’ To Ethereum
SSV Community introduced SSV 2.0, an infrastructure framework created to “handle the growing ecosystem fragmentation” and rising demand for Layer 1 (L1)-anchored interoperable options.
SSV Community is a totally decentralized distributed staking infrastructure securing 1.9 million staked ETH. The staking community permits the distributed operation of Ethereum validators utilizing Secret Shared Validators (SSV).
In keeping with the announcement, the brand new bootstrapping mannequin will permit functions “to go ‘based mostly’” by immediately leveraging Ethereum’s validator community. The “based mostly” method is ready to “reunite fragmented liquidity whereas enhancing safety” by means of Ethereum’s validator infrastructure.
Furthermore, SSV Community highlighted the expansion of the based mostly ecosystem, which creates a necessity for “a based mostly resolution to bootstrapping.” It additionally famous that SSV 2.0 goals to permit builders to construct on Ethereum L1 in a “approach that’s aligned with the unique values and future imaginative and prescient of the ETH ecosystem.”
This contains fixing a number of core points like fragmentation, excessive bootstrapping prices, and insufficient safety for a lot of Layer 2 (L2). Founder and CEO of SSV Labs, Alon Muroch, said that the undertaking might change the restaking market, create a brand new “based mostly economic system,” and rework the community’s economics:
SSV2.0 is the largest, most formidable undertaking for the SSV Community DAO that has ever been envisioned. If put in place by the DAO, it should profoundly change the restaking market and can create a brand new ‘Based mostly Economic system’ the place validators immediately safe the bApps of tomorrow. All whereas positively remodeling the SSV economics.
A ‘New Class’ Of Decentralized Apps
In keeping with the announcement, SSV 2.0 bases any providers or functions immediately on the Ethereum L1, making a “new class of decentralized functions” that permits validators to do extra. Moreover, it goals to make sure that bApps can use Ethereum L1’s safety, decentralization, and Sybil resistance.
A bApp positive factors safety immediately from the L1 as an alternative of using totally different tokens like in present restaking fashions, making them extra Ethereum-aligned and never exposing Ethereum or its validators to cascading dangers. Moreover, gaining extra safety for the price of bootstrapping SSV 2.0 extends past conventional bootstrapping approaches by introducing the primary ‘Infinite-sum’ safety mannequin, the place elevated participation strengthens the complete community somewhat than creating zero-sum competitors.
The brand new mannequin makes use of the validator as the idea of safety to supply a “shared safety basis” to bootstrap any use case, together with L2s, oracles, fraud-proofs, and different issues that require validation and safety.
In the meantime, validators will be capable to unlock advantages by serving to bApps bootstrap. SSV Community states that in SSV 2.0, validators can enhance their positive factors by opting into safe bApps or offering totally different providers, like L2 sequencing or validator commitments, to people who want it.
The staff introduced the event of the SVV Chain as the primary bApp to “assist the coordination of the brand new based mostly economic system.” The devoted chain will act as a safe coordinator layer to allow the extension of the SSV community to a number of L1s, together with Solana, Avalanche, and Cosmos.
Moreover, SSV Community unveiled its tokenomic modifications as a part of its transformation from a Distributed Validator Know-how (DVT)-powered staking infrastructure right into a multidimensional community for the based mostly economic system. “First, SSV 2.0 will allow anybody to take part in securing bApps and get rewarded by staking SSV. Second, the SSV token will introduce new burning and price mechanisms,” the announcement learn.
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