TechFlow reports that SSV Network, the Ethereum staking infrastructure protocol, has released its Governance 2.0 initiative aimed at establishing the SSV Foundation and decentralizing control to the community, advancing toward fully community-governed protocol management. SSV Network now consists of three core components: the open-source protocol, SSV DAO, and the newly formed SSV Foundation.
SSV DAO has taken a series of steps to promote community governance, but first requires an appropriate structural framework. In the coming weeks—pending the outcome of the DAO vote—the SSV Foundation will be formally launched, marking the beginning of the next era of governance. To date, the Foundation Working Group (FWG) has completed a comprehensive proposal for establishing and managing the SSV Foundation, including the following key points:
- The Foundation will appoint professional directors from Hash Directors and Leeward Management Limited. However, the foundation's legal documentation will ensure maximum ownership and decision-making power remain with token holders.
- Carey Olsen will serve as legal counsel, supporting the Foundation in navigating legal challenges and regulatory landscapes.
- The Foundation will operate with an annual budget of $400,000 to ensure smooth operations.
Previously, Alon Muroch, founder of SSV Network, was called up for military service. However, the team stated operations continue as normal and the team is more united than ever in advancing its governance roadmap.
