SSV Labs, the core developer team behind Ethereum staking protocol SSV Network, submitted proposal DIP-59 to revise and extend the previous DIP-31 agreement, pushing network hosting services from January 1, 2025 through June 30, 2027. The proposal shifts focus from expansion to maintenance due to current market conditions and DAO financial constraints, covering fork-readiness, mainnet smart contract upkeep, and operational functionality.
The budget request includes $1.5 million in USDC for 2026 and 2.7 million SSV tokens for H1 2027. Additionally, the proposal grants SSV Labs a first-priority security interest over $900,000 in funds held by the SSV Foundation.
SSV Labs Proposes Budget Cuts and Extends Network Hosting to Mid-2027 via DIP-59
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