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CoolWallet
How CoolWallet brought staking and stablecoin yields to their users with Kiln
CoolWallet is a credit-card-sized hardware crypto wallet, trusted by over 300,000 users worldwide, who collectively hold more than $3 billion in assets. It offers an intuitive, secure way to store, manage, and now earn yield on crypto assets – all from one simple interface.
Seeing growing user demand for simplified rewards and yield opportunities, CoolWallet partnered with Kiln. By integrating Kiln Onchain and Kiln DeFi products, CoolWallet integrated easy-to-use staking and stablecoin vaults directly within the wallet, eliminating the complexity and security risks of managing external platforms.
15,000+
$25M
$29,800
Challenge
Traditionally, staking and earning yields required users to navigate multiple platforms and understand complex financial concepts. Users had to navigate to different applications, set up dedicated wallets, learn the nuances of various validators and staking protocols,and track performance from several interfaces. This discouraged many users, limiting broader participation and the overall benefits of crypto assets.
For wallet providers, integrating staking and yield functionalities was equally challenging. Each third-party integration introduced technical complexity, as well as security, legal, and compliance risks. As a result, many wallets either avoided offering yield solutions or provided fragmented experiences, missing out on potential revenue and the opportunity to enhance their products for users.
Solution
CoolWallet addressed these challenges by integrating Kiln's staking and DeFi products:
- Kiln Onchain offers a reliable and straightforward solution for staking ETH via Kiln Staking Pool, allowing CoolWallet users to get rewards on their Ethereum holdings – starting from as little as 0.1 ETH.
- Kiln DeFi enables users with stablecoin balances to earn yields natively via vaults powered by leading DeFi protocols, such as Morpho. Users can now access various stablecoin yield opportunities directly within their wallet.
CoolWallet initially integrated Kiln’s staking services via Kiln's API, and later expanded the integration to include DeFi staking. Kiln also offers a widget option, enabling wallets seeking faster and easier integration.
Incentive campaign
To boost adoption and engagement, CoolWallet and Kiln ran joint co-marketing campaigns for both ETH staking and stablecoin yield vaults. These initiatives drove significant user growth and increases in total value locked (TVL):
- The staking campaign led to 123 CoolWallet users trying out staking ETH for the first time, with 711 ETH deposited, representing a 12.6% increase in total ETH staked.
- The DeFi campaign resulted in a $6.34M increase in stablecoin TVL (+64%) and saw 110 CoolWallet users deposit stablecoin for the first time, increasing overall product engagement by over 42%.
Interested in enhancing your wallet’s offerings?
Contact us today to explore how Kiln’s solutions can bring yield opportunities to your crypto wallet.
About Kiln
Kiln is the leading digital asset rewards management platform, enabling businesses to earn rewards on their digital assets, or to white label earning functionality into their products. Our platform is API-first and enables fully automated validators, rewards, and data and commission management. With over $13 billion in crypto assets programmatically staked as of the end of 2024, Kiln has established a strong presence on Ethereum, currently operating about 4.9% of the network; this includes 50,000+ active validators with 0 slashing events. Kiln is SOC 2 Type 2 certified.
About CoolWallet
CoolWallet is a provider of crypto hardware wallets, offering secure and user-friendly digital asset management solutions. Its product lineup, including CoolWallet Pro, CoolWallet S, and CoolWallet HOT, supports multiple cryptocurrencies and integrates seamlessly with DeFi and Web3 ecosystems.
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