Things to know:
– We are thrilled to announce the release of native Ethereum staking in Ledger Live, powered by Kiln, now available in your app’s Discover Section.
– Kiln is a staking platform that enables you to participate in Ethereum’s security and earn rewards while doing so. It is a leading player if you want to earn rewards while contributing to the decentralization of the Ethereum network by deploying your own validator.
– At Ledger, our priority is to create easy-to-use solutions in full security. Ledger Live is your all-in-one digital asset management solution where you can manage your digital assets securely and with full ownership.
– Native staking differs from liquid staking as rewards are accumulated on-chain in native ETH tokens, not in derivatives. With staking, there is no counter-party but the network itself, which rewards correct validator operations automatically through preset ‘block reward’ rules, as well as through a share of transaction fees. There is no risk of default or a bank run.
Stake Your ETH With Full Confidence
The mission at Kiln is to make ETH staking seamless and secure for everyone. Staking Your ETH on Ledger Live through Kiln is easy. All you need to do is to:
- Connect your Nano to Ledger Live.
- Go to the Discover section of Ledger Live.
- Select the Kiln application.
- Choose the amount of ETH you want to stake (it must be a multiple of 32ETH in this first version).
- Click on the “Stake” button… and that’s it!
You can then visualize your rewards directly on the Rewards tab of the app.
What the demo here:
For Jean-François Rochet, VP, International Development at Ledger, “The Merge brought new opportunities for staking in the Ethereum ecosystem, and now with Kiln we’re excited to offer truly secure staking to millions of users. Ledger Live users can now deploy their own validators and stake Ethereum fully on-chain, all while benefiting from the protection of Ledger’s legendary security.”
For Laszlo Szabo, CEO at Kiln, “Our mission at Kiln is to make ETH staking seamless and secure for everyone. We are grateful to the Ledger team for approaching us in 2021 to work together on the ETH staking project. This integration will allow Ledger users worldwide to secure the Ethereum network and be rewarded for it.”
Why stake with Ledger Live & Kiln On-Chain?
In a Proof-of-Stake blockchain like Ethereum, staking consists in locking native tokens to earn the right to help secure the chain via a validator. Validators review transactions on the blockchain, and bundle transactions to propose new blocks. Through this activity, validators earn rewards for the stakers who committed part of their collateral.
It is often cited as the most natural yield feature in crypto as the value originates from the blockchain native currency’s inflation and a share of transaction fees, and there is no counterparty risk as there is in lending.
Kiln, a fully on-chain staking solution, coupled with the most-secure self-custody devices, the Ledger Nano Series, makes a lot of sense for users. It empowers them to deploy their validators and easily earn rewards for doing so.
The rewards distribution is directly managed “on-chain” through the Kiln withdrawal smart contract, making repartition fully transparent and eliminating the need for the user, or a third-party, to gather and redistribute rewards.
In short, thanks to this new product launch, Ledger users holding 32 ETH or more can benefit from:
- Native yield. Earn between 7% and 15% APY* rewards.
- Total security. Clear signing and always secured through your Nano.
- Ease-of-use. Enjoy seamless 1-click staking with a clear and simple interface.
Securely explore Web3 with Ledger
Your Web3 adventure is just beginning with us.
We will keep adding new services, coins, NFTs and DApps into your Ledger Live app while ensuring that your experience is secure and seamless.
With over $500m stake under management, Kiln has a strong track record on Ethereum as we run 2% of the network that includes 8,500+ validators with 0 slashing. They offer a rewards guarantee SLA, ensuring a return of 99% of the network-average APR of ETH staking. Their product is non-custodial and their smart contracts are fully audited by Halborn and Ledger’s Donjon team.
*The staking reward rate will fluctuate over time based on many factors, past performance is not necessarily indicative of future returns. See this post for more details on expected future yields.