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Disclaimer: Availability of institutional staking is subject to local jurisdictions and corresponding regulations. Please be aware that staking digital assets involves significant risks, including but not limited to potential loss of assets, slashing penalties, and delays in unstaking.
Rakkar, Asia’s leading qualified digital asset custodian, has recently announced our partnership with Figment, enhancing the staking capabilities for institutional clients through the Rakkar custody platform. This partnership empowers institutional clients to stake and earn rewards direct-from-custody without compromise on security – benefitting from both Rakkar’s industry-leading asset security infrastructure and Figment’s industry-leading staking solutions.
Two Methods of ETH Staking with Rakkar and Figment
Protocol Staking
Protocol Staking involves locking up ETH in the Ethereum network to support its operations and secure the network. By participating in protocol staking, users contribute to the network’s security and functionality and, in return, earn stable and predictable rewards of about 5-20% or more. This form of staking requires a minimum of 32 ETH and can only be done in multiples of 32 ETH. It involves longer lock-up periods but offers a reliable option for consistent returns.
Liquid Staking on Ethereum
Liquid staking allows users to stake their ETH and receive LsETH (Liquid Staked ETH) tokens. Recognizing that 32 ETH minimum requirement in Protocol staking is a substantial investment, the liquid staking offers flexibility by allowing institutional clients to stake a smaller amount of ETH. These LsETH tokens can be traded, transferred, or used in various decentralized finance (DeFi) applications, all while continuing to earn staking rewards. This provides enhanced yield opportunities by leveraging staked assets in the DeFi space.
What is LsETH?
Liquid Staked ETH (LsETH) is the receipt token programmatically generated when institutional clients stake ETH through Figment protocol.
Why Liquid Staking and Protocol Staking Matter
Both liquid and protocol staking offer unique advantages that cater to different institutional client needs. Liquid staking provides flexibility and liquidity, allowing clients to use their staked assets while still earning industry-leading rewards. Protocol staking, on the other hand, offers stability and predictability, making it an attractive option for clients seeking consistent returns.
Pros of Staking Straight From Custody
Rakkar integration with Figment enables seamless access to liquid staking and protocol staking. In addition to earning rewards, here’s how our partnership enhances your experience in participating in staking activities:
Security and Compliance
Rakkar’s custodial services are fortified with bank-grade security measures, including MPC-CMP technology and certifications like SOC 1 Type 1, SOC 2 Type 1 & 2, and ISO 27001. This ensures that client assets are safeguarded to the highest standards, providing peace of mind for institutional clients engaging in staking activities.
Seamless, Self-serve Deployment on the Rakkar Mobile App & Web Console
The partnership with Figment enhances Rakkar’s service offering, providing clients with seamless access to staking opportunities through Rakkar custody platform. This allows institutional clients to stake and earn rewards directly from Figment through their Rakkar wallets while their assets are securely held by Rakkar. By integrating Figment’s robust staking services with Rakkar’s secure custodial services, clients can enjoy the benefits of staking without compromising on asset security.
Robust Risk Coverage
Figment provides robust risk coverage to protect against slashing, missed rewards, and downtime. This multi-tiered coverage includes insurance and Figment’s balance sheet, ensuring that clients’ assets are protected, and potential losses are mitigated.
Enhanced Authentication and Authorization
When clients initiate staking on Figment, they are required to use FIDO authentication on the Rakkar custody platform and complete the tiered authentication process to verify and secure the transaction. The self-configured vault policy customised by the clients will also be active such that the quorum members must approve the transaction via the mobile app or web console. This multi-layered authentication ensures a secure and controlled process of staking direct from Rakkar Custody.
24/7 Availability & Support
Rakkar offers 24/7 availability and support, ensuring that institutional clients can rely on continuous assistance and guidance. With round-the-clock support, clients can address any issues or inquiries promptly, ensuring a smooth and efficient staking experience. This commitment to exceptional customer service further strengthens Rakkar’s position as a trusted partner in the digital asset space.
Get Started with Staking Direct from Rakkar Custody
By partnering with global staking leaders like Figment, Rakkar continues to expand our suite of services beyond custody, offering institutional clients cutting-edge solutions for digital asset management and maximising capital efficiency. This partnership not only strengthens Rakkar’s position as a qualified Asia’s leading digital asset custodian but also underscores our commitment to providing secure, innovative, and efficient services to our institutional clients.
Institutional clients interested in exploring the enhanced staking capabilities can contact Rakkar for more information.
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