Kiln Launches Kiln DeFi, a Platform for Simplifying Access to Stablecoin Rewards via DeFi Protocols
Kiln, an enterprise-level staking platform, has announced the launch of Kiln DeFi, a new service designed for its integrators. Kiln DeFi aims to simplify access to rewards on stablecoins through renowned DeFi lending protocols such as Aave, Morpho, and Compound. This service allows integrators to seamlessly offer their users stablecoin rewards, directly integrated into their wallets or platforms.
About Kiln
Kiln is the leading staking rewards management platform, certified SOC2 Type 2, and enables institutional clients to earn rewards on their digital assets or integrate rewards functionality into their products. Kiln manages validators on all major PoS blockchains, with over $8.6 billion in crypto assets staked, and controls over 4% of the Ethereum network through a multi-client, multi-cloud, and multi-region infrastructure. Kiln also offers an agnostic suite of products for validators, enabling fully automated validator management, reporting, and commission management, facilitating staking or DeFi operations for custodians, wallets, and exchanges.
Collaboration with Crypto.com
With its experience with numerous integrators, Kiln has identified several recurring challenges, including the lack of front-end resources and the absence of staking and DeFi expertise. To address these issues, Kiln has recently introduced the Kiln Widget, an easy-to-integrate solution requiring only five lines of code, enabling quick implementation in just one day. Crypto.com, through its DeFi Wallet, is the first integrator to adopt Kiln DeFi. This non-custodial crypto wallet, focused on accessing DeFi protocols, will benefit from Kiln DeFi’s simplified integration capabilities.
Market Outlook
According to Defi Llama, the total market capitalization of stablecoins reached $162 billion in July 2024, marking the highest level since May 2022. This increase reflects a growing interest in the stablecoin market. DeFi protocol reward rates for stablecoins have reached 20%, providing an attractive opportunity for Kiln users and integrators.
Reducing Complexity for Users
Currently, to earn rewards on stablecoins, users often have to directly interact with DeFi lending protocols, which can be complex and risky. Alternatively, they can choose custodial or actively managed products, thereby increasing regulatory risks and fees. Kiln DeFi addresses these challenges by offering an integrated solution that significantly simplifies engagement with DeFi lending protocols.
Laszlo Szabo, co-founder and CEO of Kiln, emphasized the importance of this initiative: “Providing non-custodial reward opportunities for stablecoins is essential for democratizing the value creation of digital assets. By enabling our clients to effortlessly facilitate rewards through top-tier lending and borrowing protocols, we reduce complexity for users and integrators while helping them access the benefits of DeFi.” Esther Wong, Senior Vice President of Product at Crypto.com, added: “Integration with Kiln DeFi represents a major step forward in our commitment to offer our users greater transparency and simplified access to DeFi opportunities. Providing more options for stablecoin rewards will enable our users to confidently and easily generate returns on their assets.”
The launch of Kiln DeFi follows a $17 million funding round led by 1kx and the opening of Kiln’s APAC headquarters in Singapore.
