Kiln collaborates with MetaMask Institutional for its first ever institutional-staking marketplace
Kiln has partnered with MetaMask Institutional to produce an institutional-staking marketplace.
Kiln has been chosen to partner with MetaMask Institutional on this ambitious project ahead of the Shanghai/Capella upgrade.
Along with Blockdaemon and Allnodes, Kiln is helping to bring enterprise-grade ETH staking to the MetaMask Institutional platform.
We are proud to announce our collaboration with MetaMask Institutional on their institutional-staking marketplace. Institutions can now benefit from simple one-click staking of ETH through MetaMask Institutional, bringing institutions one step closer to crypto’s native yield: protocol staking.
MetaMask Institutional, the Web3 wallet for organizations developed by ConsenSys has brought together Kiln and two other staking platforms (Blockdaemon and Allnodes) to offer its institutional clients access to a simple to use staking marketplace. This will provide institutional staking of ETH ahead of the much anticipated Shanghai/Capella upgrade which will provide stakers with the ability to exit and withdraw their stake collateral.
With last year’s Ethereum Merge, there has been an influx of over 4 million in staked ETH, with approximately 15% of all ETH now being staked. This not only signifies the growing move away from the more environmentally costly Proof-of-Work algorithm to a more ecologically sound one, but also a more secure and decentralized Ethereum network. The upcoming upgrade will allow network contributors to withdraw their staked ETH and significantly derisks the protocol.
“The Ethereum Merge last year was one of the most profound accomplishments in the history of Crypto—resulting in increased economic security, reduced energy costs, and client diversity. With withdrawals coming soon, we believe institutional demand to secure the world's computer will surge. We are delighted to work with these ‘best-in-breed’ staking partners. We believe MetaMask Institutional can play a unique role in providing unrivaled and seamless staking access to all organizations,” — Johann Bornman, MetaMask Institutional Product Lead
Prior to the Merge, Kiln had been working on helping test this major upgrade on both the testnet and the mainnet. This has included working on a variety of testnets to provide feedback and detect bugs. This was an essential step in ensuring the utmost security and finality of the Merge before launch. Such endeavors have continued even until now in preparation for the next upgrade. This has put Kiln in a unique position to work with teams like ConsenSys to bring staking to institutions around the world.
Kiln is known as one of the foremost enterprise staking providers globally. With the long-standing goal of securing PoS networks through superior infrastructure with minimal downtime and zero slashing penalties recorded, Kiln is making staking accessible to all.
“Our mission at Kiln is to make enterprise-grade staking seamless and secure for everyone. We are delighted to integrate Kiln’s ETH staking platform with MetaMask Institutional’s product and network. This integration allows enterprise customers worldwide to help secure the Ethereum network and be rewarded for it. It’s a great milestone to meet an ever-increasing demand as the Shanghai upgrade approaches.” — Laszlo Szabo, Co-founder and CEO of Kiln
As the crypto community anticipates the upcoming upgrade to the Ethereum mainnet which will allow withdrawals of staked Ether, we hope to see more and more people contributing to the security and decentralization of the network.
ConsenSys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, Diligence, and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data and commission management.