Decentralized Ethereum staking infrastructure ssv.network recently published an article titled “Decentralization Pioneers: Launching ssv.network Incentivized Mainnet,” announcing a 12-month incentive program aimed at scaling Adoption of decentralized validator technology (DVT). The launch of this project marks an important step for SSV DAO in promoting the development of Ethereum staking technology.
Program details
How the incentive plan works:The incentive program will run for 12 rounds, each lasting one month, from epoch 232538 to epoch 314887. To participate in the incentivized mainnet, validators must register to ssv.network on or after October 1st until the end of the program or until the SSV tokens in the dedicated multi-signature wallet are depleted. It is worth noting that the program may end early if the rewards are exhausted. Validator rewards will be determined based on the performance of each round of beacon chain certification, and validators with excellent performance will receive more rewards.
Performance Measure: Performance is measured based on the number of days a validator is active in the round. Validators who are active at least 90% of the time receive more rewards than validators who are active only part of the time. Validators on the mainnet will be rewarded with SSV tokens according to a tiered reward system. This system is designed to provide maximum incentives early in the project while reducing the amount of SSV minted as the project progresses.
How to receive rewards
All rewards are distributed in rounds. Rewards can be claimed on the Ethereum mainnet using the 1inch cumulative Merkle allocator contract. The contract will be owned and controlled by the DAO Multi-Signature Committee. Any unclaimed rewards will be carried over to the next round of distribution, and after the program ends on October 1, 2025, unclaimed rewards will be returned to the DAO treasury.
Other related blockchain news: Maker community proposes adjustments to multiple vault type parameters
The Maker community recently posted that the Block Analitica team proposed adjustments to various vault type parameters, which will be considered in the subsequent execution vote. The proposed Stability Fee (SF) changes are as follows:
ETH-A: down to 6.25%
ETH-B: down to 6.75%
ETH-C: down to 6%
WSTETH-A: down to 7.25%
WSTETH-B: down to 7%
WBTC-A: down to 7.75%
WBTC-B: down to 8.25%
WBTC-C: down to 7.5%
In addition, the effective DAI borrowing APY is reduced to 7%; the DSR (Dai Savings Rate) is reduced to 6%.
CoinGlass Report: BTC futures contract selling wall disappears
CoinGlass posted that data shows that the sell wall of approximately $800 million in BTC futures contracts that lasted 22 hours has disappeared. This phenomenon may have a positive impact on the price of Bitcoin, and investors should pay close attention to market trends.
U.S. SEC delays decision on Hashdex Nasdaq Cryptocurrency Index ETF
The U.S. Securities and Exchange Commission (SEC) has postponed a decision on the next steps for the Hashdex Nasdaq Cryptocurrency Index ETF, setting the next deadline as September 30, 2024. The SEC stated that it would be appropriate to specify a longer period for issuing an order approving or denying the proposed rule change to allow sufficient time to consider the proposed rule change and the issues raised therein.
IRS releases new draft crypto tax form
The U.S. Internal Revenue Service (IRS) has released an updated draft version of tax form 1099-DA used by cryptocurrency brokers and investors to report gains from certain transactions, according to a CoinDesk report. The public has 30 days to provide comments to the IRS on this version. The newly released updated version of the 1099-DA is more streamlined than the first draft of the tax return filed by the IRS in April and no longer requires wallet addresses and transaction IDs. In addition, it is no longer required to fill in the time of the relevant transaction, only the date.
SEC issues subpoenas to three crypto venture capital firms: The U.S. Securities and Exchange Commission (SEC) has issued subpoenas to at least three crypto venture capital firms this year, DL News reported citing sources. The subpoena, titled “In Matter Concerning the Provision of Intermediaries for Certain Crypto-Assets,” asks investors to provide any contracts for any token transactions they have ever made.
in conclusion
The 12-month ssv.network incentive mainnet plan launched by SSV DAO is an important measure to expand the adoption of DVT. Through this plan, SSV DAO can not only attract more validators to participate, but also further promote the development of Ethereum staking technology. At the same time, other developments in the blockchain field, such as the adjustment of Maker community parameters, the disappearance of CoinGlass’s BTC futures selling wall, and the postponement of the SEC’s decision on Hashdex ETF, also deserve investors’ close attention. These dynamics together constitute the overall picture of current blockchain technology and market development.