Institutional Staking Survey Question Title * 1. Thanks for participating in this survey! Before we get started, can you please provide (please leave blank if you prefer not to say): Name Company Email Address Question Title * 2. How do you identify your business? Investment/asset management firm/fund Exchange/wallet provider Custodian/bank Blockchain network Other (please specify) Question Title * 3. Does your company currently stake ETH? Yes No If no, why not? Question Title * 4. If yes, do you utilize a third party staking provider? Yes No Prefer not to answer Name of provider(s): Question Title * 5. What are the main reasons you chose this staking provider? Question Title * 6. Are you concerned about validator centralization? Yes No Question Title * 7. Do you hold liquid staking tokens (LSTs), such as stETH or cbETH? Yes No Question Title * 8. If yes, what LST(s) do you hold? stETH cbETH rETH LsETH Other (please specify) Question Title * 9. When considering an LST, are you concerned with the liquidity available across all sources? Yes No If so, which liquidity sources/venues do you use? Question Title * 10. How does your company use LSTs? Held as is Used in DeFi Used in compliance-focused ecosystem(s) We don't use LSTs Prefer not to say Other (please specify) Question Title * 11. If your company stakes but does not hold LSTs, what is the primary reason? Compliance/regulatory concerns Don't want to deal with additional tokens Lack of suitable LST options for our needs Better returns from staking directly Other (please specify) Question Title * 12. Optional: please provide any other comments or context about your company's approach to staking or use of LSTs. Question Title * 13. Are you interested in restaking ETH? Yes No Question Title * 14. Do you feel that you understand the risks of restaking? Yes No Question Title * 15. Do you prefer to stake ETH with one integrated platform (Coinbase, Binance, Kiln, etc)? Yes No Question Title * 16. Are you comfortable staking ETH with a decentralized protocol? (Lido, Rocket Pool, etc)? Yes No Question Title * 17. Are you familiar with the concept of staking through Distributed Validator Technology (DVT) providers? Yes No Question Title * 18. If yes, would you pay a premium price for specialized features, such as enhanced security/uptime, decentralization, fault tolerance, etc.? Yes No Question Title * 19. About how often does your company monitor its staking provider's operations? Every day A few times a week About once a week A few times a month Once a month Less than once a month Question Title * 20. What metrics do you monitor? Question Title * 21. What tools do you use to monitor your staking provider's operations? Question Title * 22. Do you have a good understanding of how to evaluate the risk profiles of node operators? Yes No Question Title * 23. How do you custody your ETH? Qualified custodian Centralized exchange Hardware wallet Software wallet Other (please specify) Question Title * 24. What % of your portfolio is allocated to ETH or staked ETH? 0-15% 16-30% 31-60% >60% Question Title * 25. What % of your ETH allocation is liquid staked vs native staked vs not staked? Question Title * 26. Do you feel that ETH staking rewards are high enough to justify the risks? Yes No Question Title * 27. Is tracking your total staked ETH earned from execution vs. consensus layer rewards important to you? Yes No Question Title * 28. How important is achieving above-average staking returns vs. a benchmark to you? Very important Somewhat important Neutral Somewhat unimportant Not important at all Prefer not to say Question Title * 29. If so, which benchmark? Question Title * 30. My knowledge of staking economics can be described as.... 1: very strong 2: strong 3: competent 4: weak 5: needs work Question Title * 31. My knowledge of the concept of slashing can be described as... very strong strong competent weak needs work Question Title * 32. My knowledge of the concept of offline penalties can be described as... A great deal A lot A moderate amount A little None at all Question Title * 33. I am familiar with the ETH staking withdrawal process Extremely familiar Very familiar Somewhat familiar Not so familiar Not at all familiar Question Title * 34. My knowledge of Distributed Validator Technology (DVT) is... Extremely familiar Very familiar Somewhat familiar Not so familiar Not at all familiar Question Title * 35. I am confident that my ETH staking provider will not incur a slashing penalty. Strongly agree Agree Somewhat agree Neither agree nor disagree Somewhat disagree Disagree Strongly disagree Not applicable Question Title * 36. I prefer an integrated staking provider (Coinbase, Binance, Kiln, etc.) Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 37. I prefer a decentralized staking provider (Lido, Rocket Pool, Liquid Collective, etc;) Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 38. I am confident that I can withdraw my staked ETH in volatile market conditions. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 39. I am hesitant to stake my ETH due to a lack of regulatory clarity. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 40. I am hesitant to participate in a liquid staking protocol due to a lack of regulatory clarity. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 41. Regulations impact my ETH staking provider selection. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 42. I classify DVT's riskiness to my staking operations as Very risky Somewhat risky Neutral Minimally risky Not risky at all Question Title * 43. Geographic location of node operators is important to me when selecting a staking provider. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 44. I understand the operational requirements to run an Ethereum validator. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 45. I am familiar with node operations. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 46. I am familiar with the concept of “client diversity.” Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 47. I understand the risks of staking ETH. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 48. I consider the riskiness of restaking ETH to be: Very risky Somewhat risky Neutral Minimally risky Not risky at all Question Title * 49. I understand the risks of liquid staking. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 50. A node operator's "brand" is an important factor when selecting a staking provider. Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Question Title * 51. On a scale of 1-10 (1=least, 10=most), how do you value decentralization? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 52. On a scale of 1-10 (1=least, 10=most), how do you value censorship-resistance? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 53. On a scale of 1-10 (1=least, 10=most), how do you value staking yield? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 54. On a scale of 1-10, how much do you value security/safeguarding from loss? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 55. On a scale from 1-10, how much do you value liveness? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 56. On a scale from 1-10, how much do you value access to liquidity? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 57. On a scale from 1-10, how much do you value diversity of staking providers? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Question Title * 58. On a scale from 1-10, how much do you value regulatory clarity? 0 10 Clear i We adjusted the number you entered based on the slider’s scale. Done