Restaking Roundup: Rivals

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Eigenlayer may be the biggest restaking protocol but it’s no longer alone in the space. Karak quickly followed, adding ERC-20s and wBTC as collateral. Symbiotic more recently, has gained serious traction. Its vault model stands out for institutional compliance and operational efficiency in node infrastructure. However, none of these restaking protocols are fully feature-complete yet.

Blockdaemon is live on Eigenlayer and actively working with Symbiotic.

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Chat with us about the rivals, risks, and rewards of restaking from an institutional perspective. 

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Restaking Roundup: Risks

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Eigenlayer has launched its reward mechanism and introduced $EIGEN token subsidies to boost activity. While slashings aren't live yet, it’s crucial to assess restaking risks now. Liquid Collective provides a great explainer on the growing risks of staking, liquid staking, and restaking. “The risks of LRTs” can be better understood by comparing them to more familiar assets.

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Reply to this email for a sneak peek at my talk, “Reassessing Restaking Risks”.

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What is the Node Operator Risk Standard (NORS)?

With KPMG as the first NORS Qualified Assessor, this certification offers a trusted, third-party framework for secure ETH staking. Created by industry experts, including Blockdaemon, NORS strengthens security and simplifies staking due diligence for institutions. NORS ensures node operators adhere to rigorous criteria, including slashing prevention, validator diversity, secure private key management, and overall operational security. Learn more about institutional liquid staking, NORS and explore the open Risk and Control Matrix.

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Meet the team at Token2049, ECB, Mainnet and Devcon

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September is packed with big crypto events around the world, and 2024 is no exception. Reach out if you want to chat with Daemons at Token2049 in Singapore (including our big Daemon Day), the European Blockchain Convention in Barcelona, or Messari Mainnet in NYC. And don’t miss the “Ethereum family reunion” at Devcon 7 in Bangkok in November!

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Blockdaemon Resources

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• Blog: Ethereum Staking with Blockdaemon
• Staking API Docs: Integration & Reporting
• Institutional Wallet™ Adds Cold ETH Staking
• Institutional Liquid Staking with Blockdaemon & Liquid Collective

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Previous Ethereum Newsletters 

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• Aug 2024 - Categorizing The Modular Rollup Landscape 
• July 2024 - Trade-offs in the Rollup space 
• June 2024 - What The ETH ETF Approval Means For Staking

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