# Blockdaemon Ethereum Newsletter

By:  
Freddy Zwanzger

In this month's newsletter, we take a look at the competitive restaking space, the Node Operator Risk Standard (NORS), and how to meet the Daemons at Token2049, ECB, Mainnet and Devcon.

### Restaking Roundup: Rivals

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](https://app.eigenlayer.xyz/operator/0xdda538c29b6d569252e127c266a8a4cd77ea0bd8) and actively [working with Symbiotic](https://x.com/symbioticfi/status/1819177584175075811).

_Image source: [Blocklytics on Dune](https://dune.com/blocklytics/ethereum-restaking)_

### Restaking Roundup: Risks

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](https://liquidcollective.io/lsts-vs-lrts/) 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.

Reply to this email for a sneak peek at my talk, “[Reassessing Restaking Risks](/content/daemon-day/index.html)”.

_Image source: [Ethresearch forum](https://ethresear.ch/t/the-risks-of-lrts/18799)_

### 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](/content/blog/blockdaemon-joins-node-operator-risk-standard-development-group/index.html), 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](/content/stake/liquid-staking/index.html), [NORS](https://nors.global/) and explore the open [Risk and Control Matrix](https://docs.nors.global/rcm).

_Image source: [Blockdaemon Blog](/content/blog/blockdaemon-joins-node-operator-risk-standard-development-group/index.html)_

### Meet the team at Token2049, ECB, Mainnet and Devcon

September is packed with big crypto events around the world, and 2024 is no exception. [Reach out](/content/get-started/launch/index.html) if you want to chat with Daemons at Token2049 in Singapore (including our big [Daemon Day](/content/daemon-day/index.html)), 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!

_Image source: [Blockdaemon Blog](/content/blog/blockdaemon-announces-daemon-day-during-token2049-singapore/index.html)_

### Blockdaemon Resources

- Blog: [Ethereum Staking with Blockdaemon](/content/blog/ethereum-staking-with-blockdaemon/index.html)
- Staking API Docs: [Integration](https://docs.blockdaemon.com/reference/ethereum-api-overview) & [Reporting](https://docs.blockdaemon.com/reference/overview-ethereum-reporting)
- Institutional Wallet™ Adds [Cold ETH Staking](/content/blog/institutional-wallet-tm-adds-cold-staking-transaction-risk-assessment-and-more/index.html)
- [Institutional Liquid Staking](/content/stake/liquid-staking/index.html) with Blockdaemon & Liquid Collective

### Previous Ethereum Newsletters

- [Aug 2024 - Categorizing The Modular Rollup Landscape](/content/blog/blockdaemon-ethereum-newsletter-august-2024/index.html)
- [July 2024 - Trade-offs in the Rollup space](/content/blog/blockdaemon-ethereum-newsletter-july-2024/index.html)
- [June 2024 - What The ETH ETF Approval Means For Staking](/content/blog/blockdaemon-ethereum-newsletter-june-2024/index.html)