Bitpanda

How Bitpanda seamlessly manages 10+ protocols for staking with Kiln Product Suite

Bitpanda, Europe’s leading digital investment platform with over nine years of experience, entered into a groundbreaking partnership with Kiln in May 2023. Bitpanda has a user base exceeding 4 million and together with Kiln, they transformed the staking landscape by offering customers access to staking on more than 10 major PoS protocols.

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Bitpanda harnesses the full potential of Kiln’s product suite, using Kiln’s enterprise-grade infrastructure platform for the best operational expertise, Kiln Dashboard for intuitive staking and operations, and Kiln Connect for internal and external reporting needs. Kiln’s broad product suite has enabled Bitpanda to consolidate and streamline operations with one major provider rather than several point solutions.

Protocols available on Bitpanda for staking with Kiln

12

Protocols available on Bitpanda for staking with Kiln

Protocols on which Bitpanda get reporting data directly via Kiln Reporting API

7

Protocols on which Bitpanda get reporting data directly via Kiln Reporting API

Seconds to get real-time data on all staking rewards, balances and operations

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Seconds to get real-time data on all staking rewards, balances and operations

"Kiln Connect and complementary products have not only greatly eased our process to add and operate staking from our platform but also make it evolutive with the ability to deploy any supported protocol and add stake from any node operator. Kiln is our preferred avenue for staking."

— Doga Sarikaya, Manager - Infrastructure Delivery

Challenge

Adding staking for multiple protocols within an existing product poses significant challenges. Each protocol has its own unique features, demanding thorough due diligence and technical exploration before implementation.

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Integrating further protocols very often means starting the same work again from scratch.

Once integrated, the management of staking operations becomes a crucial concern. Each protocol requires distinct approaches for monitoring and reporting on staking rewards data, further complicating the task.

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Moreover, the process of monitoring and providing staking rewards data involves additional technical components such as indexers or aggregators. Strong & reliable reporting capabilities (both on API and dashboard levels) were key criteria in choosing a strategic partner for a staking provider.

Solution

Bitpanda's transformation came with the adoption of Kiln's Connect Reporting API and Kiln Dashboard, which empowered them to establish and maintain their staking infrastructure and associated data seamlessly:

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Kiln Connect Reporting API provides real-time, all-time, all-network indexing of staking data across numerous PoS chains, accessible via a simple, unified API. It enables Bitpanda to track rewards and balances, compute return, control financial risk and support the staking strategy. Crucially this API is compatible with all staking node operators, not just Kiln!
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Kiln Dashboard streamlines the management of all supported PoS protocols and provides easy access to associated staking data.
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The icing on the cake? Everything is owned and operated by Bitpanda themselves, ensuring full control and security.
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About Bitpanda

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Bitpanda simplifies wealth creation. Founded in 2014 in Vienna, Austria by Eric Demuth, Paul Klanschek and Christian Trummer, Bitpanda exists to help people trust themselves enough to build financial freedom for their future. The user-friendly, trade-everything platform empowers both first-time investors and seasoned experts to invest in the cryptocurrencies, crypto indices, stocks, precious metals and commodities they want — even outside trading hours, 24/7. With hundreds of team members from across the globe and over 4 million customers, the company is one of Europe's most successful fintechs.

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