In many cases You certainly "govern" a protocol you don't vote in. The protocol prints revenue that flows to the treasury, the team, the LPs anywhere but your wallet. The deal breaker will be to change governance tokens into value accrual ones
๐น What Is @ssv_network Proposing?
SSV Staking: revenue generated by the protocol gets routed to the SSV stakers in ETH tokens. So if you stake SSV tokens, you get ETH tokens as yield which can be claimed anytime without unstaking
SSV Network runs a distributed validator infrastructure for Ethereum. Over 5.5M ETH (~$16B+) flows through 146k+ validators on SSV, roughly 15% of all staked ETH.
SSV is currently making at the current scale that is $4M - $5M / year.
All this fees would be routed to the SSV stakers.
๐น Their proposed upgrade:
Fees shift to ETH. Validators pay network fees in ETH, not SSV. Cleaner accounting, institution-friendly, great for further scaling.
๐น SSV Staking launches.
Stake SSV โ receive cSSV (transferable staked $SSV) โ earn pro-rata ETH from network fees.
You earn ETH, not more SSV.
$ETH has independent value. meaning that your reward scales with network usage,,
SSV adoption grows โ more ETH fees collected โ distributed to SSV stakers โ staking becomes attractive โ stronger network โ more adoption
Itโs all a loop.
twitter.com/2lambro/status/201...
