SSV Network has announced a significant upgrade to its staking protocol, transitioning protocol fees to be denominated in Ethereum (ETH). The upgrade introduces a system where clusters pay ETH fees based on validator balances, tracked on-chain by a decentralized oracle committee. Additionally, a new SSV token staking contract has been introduced, routing ETH fees to staked SSV tokens. Stakers receive cSSV, a liquid ERC-20 token, on a 1:1 basis, which accumulates ETH rewards daily. The network plans to launch both a testnet and mainnet soon.
SSV Network Launches Staking Upgrade with ETH-Priced Fees
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