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SwissBorg
How SwissBorg reduced their staking costs by 50% with Kiln’s native staking product suite
SwissBorg, a leading mobile application for crypto-trading and digital wealth management, has expanded its staking offerings through Kiln’s white-label products. This strategic move has introduced native staking opportunities to their platform with over 700,000 verified users across 115 countries.
With this innovative addition, SwissBorg users now have even more avenues to earn staking rewards through native staking. Besides, it has ushered in fresh revenue streams for the company.
6
50%
>9,500
“Kiln really makes staking simple. They have not only greatly eased our process to add and operate native staking from our platform but also made it evolutive with the ability to deploy any supported protocol and enabling accurate reward reporting. Kiln is our one-stop shop for staking."
— Cyrus Fazel, Founder and CEO at SwissBorg
Challenge
Integrating native staking for multiple protocols into an existing product presents substantial challenges. Each protocol brings its unique intricacies and requires comprehensive due diligence and technical exploration before implementation. Plus, incorporating additional protocols often entails restarting the work from scratch. Using different providers for each protocol does not solve the issue; instead, it multiplies the workload, incurs additional fees and creates dependencies.
Once integrated, the operation and maintenance of staking require continuous attention. With the technical diversity of PoS protocols supporting even more protocols results in increased complexity and expenses in managing operations, using several front-end and back-end applications for each protocol.
Furthermore, every protocol requires different approaches for monitoring and reporting, which involves technical tools such as indexers and/or aggregators. Building and maintaining these tools imposes additional work and engineering time, which could otherwise be allocated to essential core activities.
Ultimately, SwissBorg aims to offer attractive staking opportunities and rewards perspectives to its users while keeping costs minimal, maximizing reward rates, and ensuring the highest level of security.
Solution
SwissBorg overcame these challenges by leveraging several products from Kiln's staking suite to establish their native staking infrastructure and seamlessly manage additional protocols:
Kiln Connect, the all-in-one SDK for staking, provides comprehensive reporting data across all supported protocols, simplifying integration with each protocol. It also facilitates the creation of staking transactions, compatible with Fireblocks.
Kiln Dashboard streamlines the management of all supported PoS protocols and provides easy access to associated staking data.
The combination of Kiln Connect and Kiln Dashboard empowers SwissBorg to operate their staking activities effortlessly through an intuitive UX/UI while harnessing a robust backend and onchain features via APIs and smart contracts.
Moreover, SwissBorg has now achieved a remarkable 50% cost reduction by aggregating all their staking services with Kiln. This directly benefits SwissBorg users, as decreased commission rates result in higher NRRs (Net Rewards Rate).
About SwissBorg
SwissBorg is a mobile application for crypto trading and accessing yield generation opportunities, with convenient fiat on-rams. SwissBorg Earn allows users to generate yield by putting their crypto to work via a single gateway to multiple DeFi and CeFi platforms The CHSB token is an ERC-20 utility token that powers the SwissBorg ecosystem and grants voting rights, access to premium memberships as well as additional rewards. SwissBorg is on a mission to democratize wealth management by making it fair, fun, and community-centric.
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