Key Highlights:
- 12x increase in assets under stake over 5 months
- More than 15k SOL rewards earned
- 30% higher reward rate than the network average
Overview
Ledger – the global leader in Web3 security with more than 5 million hardware wallets sold – has partnered with Figment – one of the world’s leading providers of blockchain infrastructure – to bring a seamless way to secure Proof-of-Stake assets and generate Protocol Staking rewards on dedicated “Ledger by Figment” nodes. Protocol Staking on Ledger is now available for Solana, Celo, and Osmosis with Near, Avalanche, and Cardano coming soon.
The Challenge
To complement their hardware wallet and give users a complete crypto experience Ledger launched the Ledger Live App in 2018. Users of Ledger Live can purchase cryptocurrency, access crypto dapps, manage NFTs, and now receive staking rewards. Ledger chose the most recognized partner in the sector, Figment, to offer Ledger Live users staking services directly in the interface, providing a seamless experience to custody, receive rewards, and participate on the platform.
The Solution
Ledger decided to partner with a dedicated staking provider that could quickly bring a simple, powerful, and secure staking solution to the market. After evaluating several partners, Figment stood out in several key areas:
- Rock-solid infrastructure and track record, with no slashing incidents
- Expansive protocol support across 60+ networks
- Proven ability to rapidly deploy an integrated staking solution
- Robust rewards reporting and optimization
- Deep commitment to the Web3 ecosystem
Figment quickly established a dedicated team spanning Engineering, Product, DevOps, Busi- ness Development, and Legal and established close ties with Ledger to design and implement a solution in less than 3 months. The partners also worked together to develop and deploy an integrated, multi-channel go-to-market campaign targeting Ledger’s 5 million+ customers on why and how to stake their tokens to secure the network.
The Result
The first network launched on Ledger x Figment was Solana, announced in May 2022 with a multi-faceted takeoff marketing campaign that included in-app push notifications, press releases, landing pages, blog posts, organic and paid social media, and video content. In the following months both partners expanded these efforts to build education and awareness on Protocol Staking and its benefits for the token holder as well as the broader Web3 ecosystem.
Within 4 months the total number of SOL tokens staked had risen from less than 70,000 to over 850,000 – a 12x increase since the beginning of the campaign. Ledger is extremely pleased with the results and is now launchings taking with Figment on six additional networks.
“Ledger is entering the world of staking to secure the wider PoS network. Thanks to Figment, Ledger Nano users will be able to directly delegate their assets on the Ledger Live” – Pascal Gauthier, CEO Ledger
Key Benefits of Partnering with Figment to Offer Protocol Staking:
Impeccable Execution:
- Up to 10x faster speed to market
- Significantly reduced development effort and cost
- Comprehensive rewards management and reporting directly integrated into your offering
Rewards optimization and valuable data driven insights Protocol Expertise:
- Customized research & articles from our 15+ Protocol Experts
- Governance analysis and recommendations
- First looks at innovative new networks that are driving the growth and adoption of Web3
Internal Sales Enablement:
- In-house training for your sales and customer success teams
- Sales collateral tailored to your unique value proposition
Marketing Support:
Comprehensive, multi-channel go-to-market campaigns – specific examples from Ledger x Figment include:
Custom protocol research:
