Amber Group - DAO proposal

Proposals
1

Proposal overview

This proposal is an extension of the DAO Partner Program proposal (submitted Oct. 1st 2021). We propose to add the below partners to batch #1 of the program.

Motivation

The success of the SSV.Network depends on its community, currently composed of highly technical and experienced individuals from the Ethereum community.

The motivation behind this proposal is to enlarge the community by engaging, via SSV token ownership, with strategic companies (partners) from the Ethereum staking industry.

We believe that together we can bootstrap ssv.Network with experienced operators, their communities and eventually mainnet ETH.

Mechanics

The DAO Partner Program was designed to accommodate continuous introduction of new DAO Partners over the course of 6 months. The partners will be subjected to the terms specified in the Genesis Proposal.

Amber Group is proposing to purchase 121,163 SSV tokens (for ETH or USDC) at the ‘batch 1’ reference price of 6.19 USD per 1 SSV

Calculation table (CDT 1.09-30.09 - Google Sheets)

Motivation

Amber is very excited about the future of POS token staking, especially with regards to Ethereum. Most ETH2.0 staking services have centralized components. We believe that ssv.network has the right team and technology to build a solid infrastructure that makes staking decentralized for every user.

Amber has been very active in developing our POS staking infrastructure. Our engineers have operated on many blockchains as validators. We believe that we will have the opportunity to collaborate with ssv.network to build great products together and introduce SSV based decentralized staking on Ethereum and other POS public chains.

About us

Amber Group is a leading global crypto finance service provider operating around the world and around the clock with a presence in Hong Kong, Taipei, Seoul, and Vancouver. Founded in 2017, Amber Group services over 700 institutional clients and has cumulatively traded over $700 billion across 100+ electronic exchanges, with over $2.5 billion in assets under management. In 2021, Amber Group raised $100 million in Series B funding and became the latest FinTech unicorn valued over $1 billion.

Amber Group is committed to serving clients around the globe by combining best-in-class technology with sophisticated quantitative research to offer a streamlined crypto finance experience. Our goal is to optimize for long-term value by delivering investment flexibility and maximizing returns. To date, Amber Group has raised a total of $128 million in funding from China Renaissance Group, Tiger Global Management, DCM Ventures, Tiger Brokers, Sky9 Capital, Arena Holdings, Tru Arrow Partners, A&T Capital, Gobi Partners, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital.

5 Likes
2

Amber Group is a well-known market maker. Will it be a Traderfi proposal?

If you can elaborate on the help that can be brought to SSV Network, I will vote For .
For example, increase the liquidity of SSV in Binance
Bringing 3200ETH ETH2 growth to SSV Network.

8 Likes
3

welcome, would you pls tell community what you may bring to SSV ? :smiley: :rofl:

3 Likes
4

As you have pointed out correctly, providing liquidity on SSV tokens and ETH 2.0 are the two key collaboration areas with SSV network.

Amber is one of the most crypto native firm and we are an active market maker on many exchanges. We are already in discussion with the SSV team on providing more liquidity on SSV pairs on Binance.

We also believe in ETH 2.0 and its potential to attract a significant amount of ETH 2.0. We are exploring different ETH 2.0 infrastructure options and SSV is the one with the largest potentials. We are studying SSV documentation and will integrate with SSV to stake our ETH. Hope that answers your questions :slight_smile:

4 Likes
5

Welcome aboard.
After seeing your reply, I can know that Amber Group has a lot to contribute to the future of SSV.

2 Likes
6

it sound great! welcome Amber

1 Like
7

Hello all, this proposal is already overdue, and it looks like no other questions came up. Amber Group updated its motivation, and it is in line with the values of the ssv.network.
Voting will start in about 24h. Last call. Thanks, everyone.

1 Like
8

I feel like there is very little tangible information in this proposal. I would like to see more detailed plans of this company’s proposed involvement.

“We believe that together we can bootstrap ssv.Network with experienced operators, their communities and eventually mainnet ETH.” What does this mean? Do you have experience building out developer and user communities on other projects? Which projects?

“Amber has been very active in developing our POS staking infrastructure.” In what way? How many ETH developers do you employ? What other projects are you participating in? How much ETH are your clients staking?

3 Likes
9

Same as captnapalm. There is not much information for the DAO to discuss, let alone come up with a decision. What does the SSV network require from them in exchange of this allocation?

2 Likes
10

Yes, Amber has a dedicated team focused on the development and ETH 2.0 is one of our key areas of focus now. We have 8 dedicated developers solely focused on ETH 2.0. To be more precise, that means our development will start our integration process and become a node on the SSV network.

We have incubated KeeperDao, one of the largest mempools. We were involved in all perspectives of the projects including product development and community management.

1 Like
11

Voting is now open and ends on the 25th of November:
Snapshot.org - DAO Partner Program - Amber Group

We appreciate the comments of @Slvn @captnapalm and the additional context provided by @Chibin.
We discussed the situation, and we’ll improve the process for all upcoming proposals. You guys had very valid points, and we need more engagement from you in the future. However, we need also to move fast. The community will make sure that we gather feedback in time and early enough. Please express your final thoughts by voting.

Final note, just to emphasize it: The main element of the partnership program is the vesting schedule. The schedule is a 1-year cliff then 1-year linear vesting. This creates a strong incentive for the partners to want SSV to succeed and grow, or they will likely lose their investment. If a partner has a reputation in the crypto space and is willing to commit to the project for at least the entire vesting period, that was enough so far. However, we will make sure that there is more focus on the motivation and the value a partner adds to the project so that the community can discuss and base the decision upon it.

1 Like
12

Bro, you got what you wanted, join batch1 partner.
So when will you move as promise, providing more liquidity of SSV pairs on Binance? and push forward to list SSV/USDT new pair on binance ? thx.