Ethereum Validator P2P.org Hits $7.5B TVL and Adds New SaaB Model

Ethereum blockchain validator P2P.org has reached a new milestone and is introducing a new staking model designed for business.

Ethereum's verifier's total value locked (TVL) increased from $5 billion in February to more than $7.4 billion in March, the firm said in an April 10 announcement to Cointelegraph.

P2P.org's TVL rose from $1.4 billion at the end of Q1 2023 to $7.3 billion at the end of Q1 2024, or a 396 percent year-over-year increase.

According to data from Dune Analytics, as of April 8, P2P.org's market share in terms of total Ether (ETH) holdings is 0.75%, or 240,832 ETH shares.

In contrast, Lido, the largest Ethereum validator, has a 29% share of the total stake in Ethereum, or 9.5 million ETH. According to Dune's analysis, up to 17% of the market is owned by anonymous verifiers.

In conjunction with the TVL Chapter, P2P.org announced the launch of a new staking model aimed at businesses. The new SaaB model addresses the challenges some businesses face, including issues related to functionality, promotion of SaaB services, and revenue generation.

P2P.org CEO Alex Essin told Cointelegraph, “Our goal is to help establish or amplify assets held in institutional products, ensuring that the stake contributes at least 10% to total revenue. He added:

“This is not just a service or solution; it is a partnership model that helps businesses scale by integrating new DeFi and Staking services into their platforms.

Ethereum staking is the process of locking up Ether to secure the Ethereum network and rewarding users with newly generated ETH. Ethereum's staking system was launched in September 2022 when the ETH network adopted a proof-of-stake (PoS) consensus system.

Related: Fidelity Updates Spot Ethereum ETF Proposal to Include Stocks

Unlike the proof-of-work (PoW) consensus method – which is used on the Bitcoin blockchain – the PoS consensus method does not require mining and instead relies on proof.

Ethereum validators are entities that have a stake of at least 32 ETH in the network to participate in running the Ethereum PoS consensus blockchain. According to data from BeaconCha, there were 980,000 validators on the Ethereum blockchain as of April 9.

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