Figment is excited to announce the launch of Figment Vaults, a solution that simplifies institutional ETH staking. With Figment Vaults, institutions can now stake any amount of ETH in a private and configurable way, to cater to the unique needs of their business and end users.
Features:
- Stake Any Amount of ETH: Vaults eliminates the requirement to stake in 32 ETH increments, allowing for an easier staking experience and optimal rewards.
- Your ETH is Never Pooled: Your assets will not be pooled or commingled with anyone else. It’s your private vault, only available to your users.
- User Sub-Accounting: Easily track your user’s staked balance, rewards earned, and staking activity.
- Multi-Region Support: Choose where your validators are located to help navigate the regulatory landscape while mitigating risk.
- Auto-Compounding of Rewards: Staked rewards will be automatically staked to compound overall rewards earned.
- Non-Custodial Staking: Always keep custody of your tokens, even while staking with Figment.
- Multi-Client Infrastructure: Figment supports multiple software clients to avoid client concentration and reduce the impact of a client-specific problem leading to potential penalties.
The Ethereum protocol is one of the most popular proof-of-stake blockchains given its strong developer community, user base, and activity. This makes it a very attractive protocol for those looking to participate in protocol staking.
However, Ethereum utilizes true proof-of-stake (PoS) for its consensus model, which requires stakers to deposit ETH into their own validators. A validator can only be activated by depositing exactly 32 ETH.
This places a huge burden on institutions that want to offer a simple way to stake ETH to their end-users. Institutions are then forced to stake on behalf of customers and build out a sub-ledger system to keep track of all individual stakers across their disparate validators, or worse, not offer “any-amount ETH staking” at all, and lose the ability to service the massive amount of ETH holders that hold less than 32 ETH.
Figment Vaults solves this pain point for institutions. Institutions can now simplify ETH staking in a way that doesn’t commingle assets with other institutions, unlike traditional staking pools. Figment Vaults are configurable to fit the specific needs of each institution and their end-users. Figment Vaults also provide an easy way to track end-user staking balances and rewards history.
Figment Vaults will continue evolving with exciting features on our roadmap. To learn more about how Figment Vaults can simplify your institutional ETH staking experience, reach out to our team today.
The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.
