Alluvial reposted this
Staking will be one of the first phases of institutional adoption of defi. Crypto-native asset managers around the world are already offering access to staking rewards, and it’s only a matter of time before large traditional FIs follow with their ETFs. However, these large institutions have incredibly high standards for the types of service providers they engage with, especially when their customers' assets are at risk. To help expedite adoption, and ensure there is a transparent standard to professionalize the staking industry, a group of the world’s most experienced staking players came together to build NORS: the first certification that meets institutional needs for verifying that ETH node operators have enterprise-grade risk management standards in place. Similar to SOC2, NOs can engage leading accounting firms to receive objective certifications that they meet operational and security best practices relating to participating in ETH staking and mitigating slashing losses. Taking a proactive approach to building standards that work with trusted auditors to professionalize our industry is key to 10xing the staking industry. Proud to have been a part of this effort and excited to see some of the first NORS-certified operators!
Announcing the Node Operator Risk Standard (NORS) certification for Ethereum: The gold standard for professional ETH node operators 🌐 Developed by a working group of 13+ industry-leading companies, NORS is the world's first attested certification for staking infrastructure risk management. Why does NORS matter? ➡️ NORS certification makes institutional-grade trust for ETH staking operations achievable. For the first time, institutions can rely on a trusted, 3rd-party-verified standard for resilient ETH staking infrastructure. ➡️ NORS aligns with AICPA audit standards followed by SOC1 and other widely adopted diligence standards, with Big-4 auditors as NORS Qualified Assessors. This unlocks the ability for large-scale institutions to use NORS certification when conducting due diligence on ETH staking operations. ➡️ NORS covers key aspects of node operations, including slashing prevention, validator diversity, and responsible key management. The open risk control matrix sets a new benchmark for professional operational security and risk management, specific to validator infrastructure. Developed by a diverse cross-industry working group, including: Alluvial Aon Blockdaemon Chainproof Coinbase DV Labs Eigen Labs Figment Galaxy Nexus Mutual Staked + others These expert collaborators ensured NORS provides robust risk criteria. In 2023, Liquid Collective started developing open validator performance & risk standards to help define enterprise-grade active sets. Alongside the LsETH Performance SLAs, NORS Certification will be used as an input for future Liquid Collective active set participation. For more information about the Node Operator Risk Standard (NORS) certification and how to get involved, visit nors.global https://lnkd.in/e3_gKeSR
Chris I.
2mo
100 agree, its akin to a savings account.
Luis A. Támara
2mo
Proud of you, Evan!
Web3 Sales & GTM Leader
2moGreat industry and thought leadership!