ssv.network launched the first phase of the mainnet rollout in early Q2 2023. Overall, there were four phases, each with its own goals and provisions. Finally, on December 13, 2023, the network moved to its full permissionless state. 

Since that, the network has been open for all operators and validators. Anybody can register a distributed validator and choose from more than 250 operators, including Verified Operators. Users are free to deploy validator(s) on operators that utilize specific execution or consensus clients, or even a mix of unique geographical locations!

Rewards are calculated similarly to the classic Ethereum staking. Validator rewards consist of Consensus Layer rewards (for participating in the Ethereum network's consensus mechanism) and Execution Layer rewards (for executing transactions on the Ethereum network as part of block proposals, including priority fees and MEV rewards).

The SSV token is used as the payment layer to align the interests of the network participants. Stakers pay a fee in SSV tokens to the operators they select to manage their validators and a network fee to the DAO.

• Transparency. The protocol promotes a ‘free market’ of staking providers (operators) offering their services to stakers and competing with each other for TVL.
• Cost optimization. Stakers have complete control over their cost structure when choosing operators on the network. Stakers can also redistribute their keys to different operators to reduce their costs.
• Inflows > outflows. Stakers must hold a minimum amount of SSV tokens as collateral to avoid potential liquidation. This covers operator costs for a set period and helps keep the network solvent by preventing operators from not being paid for their duties.

The network fee represents a set quantity of SSV that every staker must contribute to the network for its services. The specific fee is established by the DAO, and the earnings from these fees will be channelled directly into the treasury of the DAO.

To create a distributed validator within the ssv.network a user needs to organize a cluster, which comprises the operators chosen to manage it.

Then the user has to share their validator key with their designated cluster and officially register it with the network's smart contract. This registration process can be completed either through the web app interface or by utilizing the smart contracts and developer tools (refer to the guide for more details).

You, and only you! The ssv.network is a non-custodial protocol, thus its stakers maintain full custody over their staked ETH and rewards. After setting up the validator, splitting and distributing a validator key to the ssv.network operators, you still retain full control of your validator key and withdrawal address. 

The ssv.network employs a free-market model, allowing operators to establish their preferred fees. This strategy fosters healthy competition among operators and contributes to delivering operator services to stakers at more affordable rates.

Upon registering with the network, operators define their fee in SSV, which is subsequently levied on each validator choosing them as their operator. For the sake of simplicity and uniformity, network usage fees are standardized as annual payments. In practice, these fees are disbursed to operators continuously, with payments occurring for each block produced.

Operator fee could be changed at the discretion of the operator, both increasing and decreasing processes. Fee changes are generally initiated to stay competitive with other operators or to align with SSV market price fluctuations.

In case of fee increase, there will be a delay, to make sure validators are aware and can decide accordingly. More about fee updates you could read in the docs.

With the SSV token serving as the payment layer of the ssv.network, the cash flow between stakers and operators/network is facilitated by maintaining an SSV balance in a cluster, which consists of two essential parts:

• the liquidation collateral that ensures the validator would always have sufficient balance to cover its operational costs.
• the operational runway — any extra funds added to the cluster balance that prolong the operation of its validators on top of the required collateral.

An operator fee is denominated in SSV tokens and charged to each validator that selects it as its operator. Fees are presented as annual payments, but in practice, they are paid to operators continuously as an ongoing process per each passed block.

When selecting Everstake as an operator for your cluster, you can see our fee (1.5 SSV per year) for performing validation services for you. This amount will be deducted from your cluster balance during the period Everstake operates your validators (yearly fee / blocks during the year * number of blocks produced).

To stake using the ssv.network protocol, you need to have both ETH and SSV tokens. When creating a new validator, you must have enough funds to cover the Network Yearly Fee, which represents the amount of SSV required for one year of staking. You are free to maintain a balance exceeding this amount or choose to hold a balance for a shorter duration, but it's essential never to let it drop below the Minimum SSV Balance (MSB).

The purpose of the MSB is to ensure that operators are consistently compensated for their services. Therefore, stakers are obligated to maintain a certain SSV balance in their wallets. The exact amount required varies for each staker and is influenced by the individual costs of their chosen operators. If you select operators with higher fees, the MSB will also be higher.

Stakers who have their SSV balance below the Minimum SSV Balance run the risk of liquidation. In such a scenario, their remaining SSV tokens will be liquidated, and their validator will no longer receive support from the network.

Importantly, this doesn't affect the staked ETH, which remains secure, and stakers can choose to move their validator elsewhere or restake it using ssv.network.

You have the freedom to choose any operator from the options available on the explorer. It's crucial to focus on the operator's performance statistics, the number of validators they manage, the operator fee you'll be paying, and other vital information about the operator available on the explorer.

Verified Operators (VOs) are well-established companies with a proven track record in managing PoS staking and blockchain infrastructure services. Everstake was selected to the cohort of Verified Operators within the ssv.network as a recognition of our high-quality service for stakers with the utmost uptime, zero slashing history in Ethereum, and competitive fees, trusted by 735k+ users around the world.

The Ethereum network requires a high-end node setup, well-maintained software, and a stable and fast Internet connection. Everstake enables its stakes to earn rewards without the need to handle all those matters, all while ensuring the steady operation of its nodes, so ETH staking remains hassle-free for all our users thanks to the highly experienced engineering team with extensive hands-on expertise in PoS staking.

All these factors were recognized by SSV and following SSV throughout selection by the Verified Operator Committee (VOC), Everstake became one of the first Verified Operators during the ssv.network mainnet rollout, having proven industry professionalism, solid experience, and performance.

Sure! Everstake appreciates your trust and would be happy to discuss special staking services for you. Please contact [email protected] or book a slot for any additional details. 

You can learn about our operator performance on the ssv.network explorer.

The status of network participants serves as a performance metric for the activity and functionality of the network members. The status – which can either be 'active' or 'inactive' and determined by the operator's performance – pertains to their standing within the SSV network, not the Beacon Сhain. 

By default, all participants are considered 'active' unless the validators failed to perform their duties for the last 2 epochs and operators failed to fulfill their duties to most of their validators for the past 2 epochs.

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