SSV Surges As SSV Network Voting on Validator Onboarding and Committee Operation Proposal, Jito Launches JTO Governance Token with Airdrop for Community Contributors on Solana Platform

Daily Top Performer — SSV Network (SSV)

The SPX index was down 0.19% overnight, with no significant updates from economic data and corporate earnings. The broader cryptocurrency market was down, with Bitcoin and Ether dropping 0.96% and 2.86%, respectively, in the past 24 hours. 

Today’s outperformer is SSV, which jumped 11.8% as the SSV community votes on key proposals for network upgrades and committee enhancement. 

SSV Network (SSV), launched in 2021, is a decentralized staking platform that uses Distributed Validator Technology (DVT) to split Ethereum validator keys into KeyShares, which are distributed across various non-trusting nodes, enhancing security and uptime. The SSV community is voting on two key proposals: the Permissionless Mainnet Upgrade, which will enable easier onboarding of validators and operators to the SSV network, and the Verified Operator Committee Extension, which is aimed at enhancing committee operations. These proposals offer benefits like increased fault tolerance, diverse client and geographical representation, and secure key ownership for validators. The SSV DAO highlights the significance of these proposals for the future of Distributed Validator Technology (DVT) and Ethereum, urging community involvement in the decision-making process.

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Talk of the Town:

Jito, a leading Solana-based MEV-resistant infrastructure protocol, is launching its governance token, JTO, with a billion tokens in total supply. 10% of these will be airdropped to past contributors of the Jito Network. The JTO token allows holders to influence decisions within the network, including setting fees and managing treasuries. Eligible airdrop recipients include long-term JitoSOL holders and active Solana validators. The token allocation also includes portions for ecosystem development, core contributors, and investors, with a phased unlocking plan. Eligibility for the airdrop can be checked on the Jito Network website.

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