Kiln, an enterprise-grade staking platform, has announced that Coinbase Cloud has integrated Kiln’s On-Chain Platform into its product offering. This move is seen as a significant milestone for Coinbase Cloud as it aims to streamline and simplify the Ethereum staking process.
Kiln On-Chain is a suite of smart contracts designed to connect integrators and operators, offering a customizable staking experience on the Ethereum network. It takes a fully smart-contract based approach, ensuring transparency throughout the staking process, which aligns with the demand for openness and accountability in the staking industry.
Through this integration, Coinbase Cloud can offer onchain partial ETH staking capabilities to its clients with minimal engineering effort required. It also allows Coinbase Cloud to extend its staking services to integrators, including its own Coinbase Wallet, as well as other self-custodial wallet providers in the ecosystem.
Laszlo Szabo, CEO and Co-founder at Kiln, expressed excitement about working with Coinbase Cloud, stating that this integration allows them to enable other wallets and services with the same ETH staking solution offered by Coinbase Wallet. Kiln’s goal is to democratize staking access for all Ethereum users.
Transparency is a key aspect of Kiln’s approach, which Coinbase Cloud recognizes and values. Kiln On-Chain ensures that all operations, such as validator management, deposits, and commission dispatching, are carried out on-chain via smart contracts, making them transparent and auditable. These smart contracts have also undergone successful audits by Spearbit, further reinforcing their reliability and security.
Nick Boccardi, Senior Product Manager at Coinbase Cloud, expressed delight in joining the Kiln On-Chain platform as their first node operator. Leveraging Kiln’s smart contract expertise alongside Cloud’s node operator expertise allows them to offer a best-in-class staking solution for wallet integrators. The onboarding process was seamless and efficient, leaving Boccardi and his team impressed.
At the core of Kiln’s On-Chain solution lies a collection of smart contracts that simplify the management of white-labeled Ethereum validators, node operators, and end-user stakes. This suite offers a range of options when designing a white-labeled staking product, including enabling users to stake any amount of ETH, representing staked positions with or without a receipt token, and providing operators with real-time reporting data for valuable insights into their staking operations.
Operators can launch a staking offering in less than three weeks by completing four steps outlined by Kiln. Overall, this integration between Kiln and Coinbase Cloud marks a significant development in the Ethereum staking landscape, making staking more accessible and efficient for users.
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