Kiln on EigenLayer: introducing the first 1-click native restaking experience
We are delighted to announce the launch of our native 1-click restaking experience on EigenLayer.
Starting from today, Kiln customers can use our Dashboard to restake ETH validators and start to earn EigenLayer Restaked Points.
How to restake
Here’s a 2-minute demo video showing how to do it:
What happens behind the scenes?
1. Kiln crafts a transaction for you which:
Creates your EigenPod which manages your validator balance and withdrawal status
Deposits a new ETH validator with the validator withdrawal credentials set to your EigenPod
2. You review and accept this transaction.
3. That’s it! You have restaked, and once your deposit is processed, you will be earning EigenLayer Restaked Points.
Note: when restaking, you need to deposit ETH. This means that if you have already staked, you will need to unstake your validator, collect your ETH collateral, and then re-stake. The reason for this is that restaking requires setting the withdrawal credentials of your Ethereum validator to your Eigenpod, and changing withdrawal credentials on an existing validator is not possible.
All the existing custody solutions integrated with the Kiln Dashboard, such as Fireblocks, Copper, and Fordefi are available for this flow.
In future releases, we will be enabling EigenLayer for Kiln On-Chain Staking Pool customers and will be joining the network as an operator of AVSes, enabling restakers to earn additional rewards on their collateral.
In Q2 2024 Eigenlayer is expected to release support for AVSes, enabling operators to run additional services alongside Ethereum validators. This will enable restakers to earn additional rewards for helping secure these AVSes. Follow along for Eigenlayer updates here!
We look forward to supporting customers wishing to restake and embark on their journey with EigenLayer!
Discover more about EigenLayer, re-staking, and AVS by tuning in to our special podcast series, where we interview a new founder every week. The first full episodes, showcasing Sreeram from EigenLayer and Amrit from Altlayer, are now available.
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 $4b of stake under management and over 4% of the Ethereum network, running on a multi-cloud, multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators, reporting and commission management, enabling custodians, wallets and exchanges to streamline staking operations across providers. Kiln is SOC2 Type 2 certified.