Protect your staked assets with slashing insurance coverage from Chainproof, now available to Kiln customers
We are excited to announce our new partnership with Chainproof, a leading regulated insurer for crypto related risks, reinsured by Munich Re. Together, we are bringing a new level of security to cryptocurrency investors through state of the art on-chain staking insurance protection.
Our mission is to make staking accessible and secure for all financial institutions. Through our partnership with Chainproof, we are taking this ambition to the next level. By leveraging Chainproof's insurance platform, companies holding crypto assets can now have peace of mind knowing their staked assets are protected in the event of a slashing event or other unforeseen circumstances. For this policy, Chainproof in turn works with Munich Re, one of the world’s leading reinsurers.
At Kiln, the security of our clients' staked assets is our top priority. That's why we follow the motto "better down than slashed", to minimize the risk of slashing events. Our Ethereum infrastructure adheres to the industry's highest standards to prevent such incidents from happening. We've implemented a strict monitoring process and effective anti-slashing strategies, endorsed by the Ethereum Foundation. However, since zero risk is never guaranteed, it is essential to collaborate with the best insurance providers in the market, who already work with our institutional client-base. This partnership adds an extra layer of security and coverage, protecting our clients' staked assets against slashing events.
Kiln shares a base level of slashing coverage for all customers, and customers have the option to purchase additional cover with Chainproof.
‘We prioritize our clients' financial security at Kiln. Our partnership with Chainproof enables us to expand our staking infrastructure support across the PoS ecosystem. We believe regulated insurance is the future for our institutional customers.’ — Laszlo Szabo, Co-founder and CEO of Kiln
‘We are thrilled to partner with Kiln to democratize staking access in a secure and safe way.' said Sebastien Banescu, co-founder and CEO of Chainproof. 'By combining Kiln's expertise in staking with our innovative insurance platform, we are able to offer a new level of security and peace of mind to crypto investors.'
For those interested in enterprise-grade staking with Kiln and gaining more information about our slashing coverage with Chainproof, please do not hesitate to contact us here.
Chainproof was incubated by Quantstamp, a leading blockchain security auditor that has secured over $200B in digital asset risk. With seed investment and foundational support from SOMPO Light Vortex, Chainproof bridges the worlds of traditional insurance and decentralized finance (DeFi). Chainproof offers licensed, institutional-grade insurance coverage for open-source, non-custodial smart contracts on public, decentralized blockchains. The company is backed by some of the founders of the top names in Web3, including Compound, Aave, Lido, Synthetix, Kyber, Amber Group, MakerDAO, Badger, DeFi Alliance, The Graph, Coinlist, Zynga, Illuvium, Hashgraph, Rally, Celo, Polygon, Blockfolio, Dapper Labs, and more.
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, and data and commission management. With over $2.2b stake under management, Kiln has a particularly strong track record on Ethereum as we run about 3% of the network; this includes 22,000+ validators with 0 slashing events.