Staking services now available on Indodax, Indonesia's premier Exchange Powered by Kiln

Staking services now available on Indodax, Indonesia's premier Exchange Powered by Kiln

Indodax, Indonesia's leading cryptocurrency exchange, has joined forces with Kiln to bring staking services to its user base of 5.7 million individuals. This collaboration takes advantage of Kiln's integration with Fireblocks, a trusted self-custody solution, to provide an unparalleled staking experience.

Why did Indodax choose Kiln as their staking technology provider?

Indodax made the decision to stake through the Fireblocks interface, utilizing Kiln's integration, which streamlined the process to just a few clicks. Initially starting with their SOL tokens, the Indodax team plans to extend this staking approach to other assets soon. The integration proved remarkably user-friendly, requiring no engineering time and offering a seamless experience.

Discover how to stake SOL on the Fireblocks dashboard natively through Kiln by watching the video:

"We had high expectations for a staking technology provider that could effectively work with our custody solution, Fireblocks, while delivering outstanding performance. We express our sincere gratitude to the Kiln team for their exceptional support, enabling us to integrate staking in a fast and efficient manner."

— Oscar Darmawan, CEO of Indodax

"We are thrilled to collaborate with Indodax to strengthen Kiln's position in the Asian market. The opportunity to work with Indodax aligns perfectly with our mission of making enterprise-grade staking seamless and secure for everyone."

— Laszlo Szabo, CEO and co-founder of Kiln

Understanding the staking opportunity

In PoS blockchains, staking consists of locking native tokens to earn the right to help secure the chain via a validator. Validators review and approve blocks proposed by other validators, and bundle transactions together to propose new blocks whenever they are selected to do so. Through these activities, validators earn rewards for stakers who commit part of their assets to the network. 

Staking is considered to be the most natural way to earn rewards in the crypto space as the rewards stem from helping secure the chain. Rewards are paid out from protocol inflation and a share of transaction fees. 

By staking, token holders can earn rewards and grow their digital asset holdings. Staking plays a crucial role in network security, governance, and contributes to the growth of the Web3 ecosystem as a whole.

About Indodax

Indodax is the first crypto asset trading platform established in Indonesia. As the pioneer crypto asset trading platform that trades Bitcoin (BTC), Ethereum (ETH) and other cutting-edge crypto assets in Indonesia with more than 5.7 million members and verified by BAPPEBTI, Indodax is committed to be the most trusted and safest crypto trading platform for its users in Indonesia.

About Kiln

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. 

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