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.
The total allocation designated to the partners below is 179,965 SSV tokens (for ETH or USDC) at the ‘batch 1’ reference price of 6.19 USD per 1 SSV(calculation table) :
The above partners are staking services and ssv.network Operators with extensive blockchain infrastructure expertise. Their contributions to the DAO include; funding, staking/tech expertise, active operators in ssv.network, global distribution and more.
I disagree. The price is extremely volatile, and it could easily drop again. Before this recent price spike, there was a huge drop in a short time to under $8. There are no healthy SSV markets yet, and prices are very unstable. It will be a while before this changes.
Also remember that the cost of these partnerships is the two-year vesting period. Those who are accepted have to wait two years!.. that’s an extremely long time in the crypto world, and there’s a lot of risk implicit in that. No one can just turn around and immediately sell these tokens for a profit, and they won’t make a profit at all unless SSV succeeds. Therefore, the people and organizations signing up to be partners are deeply committed to this project. They are those who are volunteering their resources and time to help it grow, and they are committing to that for the entire two years.
All good points. I clearly did not read the original proposal well enough as I missed the vesting period. Seems like it is only locked for 1 year and then 1 year of continuous linear vesting but this is still good and aligns incentives.
Only reservation I have is the Batch 1 Group 1 does a great job of introducing the individual recipients… Those introductions are completely missing here. Especially would be nice to know more about the individuals from Stakin and how they bring value outside of Stakin as those allocations seem oddly specific, why not just go through Stakin?
Hi there, they are pretty public people and info about them could easily be found online. We can add some info though, LMK.
Apart of the price etc. also consider the partner’s contribution to the ecosystem. Stakewith.us is a Singapore based POS powerhouse. They did not go into ETH because of ABC reasons and now with ssv around the corner, they just might. That is an incredible boost for our ecosystem… (I broke down their specific example since you mentioned them)
Small expert teams and their core team members can bring much more value and commitment than large brands.
Support from large brands such as Coinbase is necessary. However, it has been demonstrated on many networks that smaller independent validators are much more reactive for network development and involved in governance.
The price is fair taking into account the large lockup.
I wish more expert validators will join in so let’s not spook them off
Hey all, this is Michael from stakewith.us. We are a team of 8 based in Singapore that has been around since early 2019, bootstrapping >25 validation network from genesis.
We are super excited to be able to be part of the SSV family - key management service is especially crucial to ETH2.0 and will vastly reduce operational risk for individuals/companies running their own nodes.