Crypto.com DeFi Wallet joins the Kiln On-Chain staking platform to offer ETH staking
We are excited to announce Crypto.com's integration with the Kiln On-Chain platform, marking a significant milestone in our partnership.
The Crypto.com DeFi Wallet has integrated into Kiln On-Chain’s staking platform allowing users to stake ETH. Staking is a trusted and secure way of generating rewards, driven by blockchain-native currency economics and a share of transaction fees.
Crypto.com has more than 80 million users worldwide, and the Crypto.com DeFi wallet is the premier non-custodial crypto wallet for storing, staking and growing your crypto assets.
“We are committed to offering our users the best products and experiences. Our ETH staking solution powered by the Kiln On-Chain platform is one that we are truly excited about. We were very impressed by the Kiln staking solution, which allowed us to provide ETH staking to our users seamlessly and securely.” — Esther Wong, Senior Vice President, Card and Defi Product at Crypto.com.
Why the Kiln On-Chain staking platform
Kiln’s staking platform enables Crypto.com to integrate Ethereum staking in a fully configurable manner. This means Crypto.com can choose the way the offering is presented to users and how staked assets are represented.
Kiln’s staking platform provides an alternative model in the concentrated liquid staking landscape. It offers various strong staking options with a range of operators, reducing centralization risk and encouraging users to diversify their staked assets across different staking solutions run by different node operators, promoting network decentralization.
Furthermore, Kiln's integration with platforms like Crypto.com unlocks Ethereum staking for a significantly wider audience creating potential for enhanced participation and accessibility within the Ethereum staking ecosystem.
“We are extremely excited to launch the integration of the Kiln staking platform with Crypto.com today. This marks a significant step towards democratizing ETH staking, making it accessible to millions of ETH holders.” — Laszlo Szabo, CEO and Co-founder of Kiln
How does it work?
The Kiln staking platform smart contracts determine ownership, deploy validators, and ensure that users receive protocol-generated rewards based on their staked assets. The operations of the Kiln staking platform are fully automated via smart contracts, and transparently visible on-chain. Kiln and Crypto.com take no active management of users’ staked assets, positions or rewards.
Why consider the Kiln staking platform?
Maximize capital efficiency by compounding your rewards
Benefit from the highly secured and decentralized environment of Crypto.com DeFi wallet
Kiln’s staking platform’ smart contacts are successfully audited by Spearbit.
How to stake ETH on your Crypto.com DeFi wallet
Want to try it?
Login to your Crypto.com DeFi wallet
Click on ‘Earn’ tab, choose ‘ETH staking’
Input the amount you want to stake
Click on “Stake”
That’s it! Your ETH will be staked, and you will start receiving protocol rewards on a daily basis*.
Reach out if you want to deploy Ethereum staking in a few days.
About Crypto.com DeFi wallet
Crypto.com DeFi Wallet is the best crypto wallet to store, earn and grow your crypto assets like Ethereum - a non-custodial DeFi wallet where you own your crypto and your private keys. You can safely store your crypto in a highly secure environment. Send and receive 500+ cryptocurrencies like Bitcoin(BTC), Ethereum(ETH), DeFi coins like Uniswap(UNI), Compound(COMP), yearn.finance(YFI), stablecoins and other ERC20 tokens. With the Crypto.com DeFi Wallet, it offers you a simple and secure way to explore DeFi projects. Deposit and earn the best returns on your DeFi tokens with DeFi Earn.
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Kiln runs validators on all major PoS blockchains, with over $2.2 billion crypto assets being programmatically staked, and running over 3% of the Ethereum network on a multi-cloud, multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators, and reporting and commission management, enabling custodians, wallets and exchanges to streamline staking operations across providers. Kiln is also SOC2 Type 2 certified.
* Gross Reward Rate (GRR) represents the annualized proportion of rewards received by the protocol relative to the total amount staked in the protocol, presented as a percentage. GRR may be impacted by many factors of dilution and fluctuation outside of our control that influence the outcome. For example, these factors could include the length of the global validator activation queue, incoming deposit volume, and timing.