{"id":"kiln-finance","title":"Kiln Finance","content":"**Kiln** is an enterprise-grade [staking](https://iq.wiki/wiki/staking) platform that provides infrastructure for institutions and individuals to earn rewards on their digital assets. The company operates as a [staking](https://iq.wiki/wiki/staking) aggregator, offering Staking-as-a-Service through a suite of APIs, widgets, and applications designed to simplify access to yield-generating opportunities across numerous [blockchain](https://iq.wiki/wiki/blockchain) protocols. [\\[1\\]](#cite-id-DVeoop1maOJAwiPQ) [\\[2\\]](#cite-id-OOEuPC5266JjK9vz)​\n\n## Overview\n\nKiln’s core mission is to provide easy access to [blockchain](https://iq.wiki/wiki/blockchain) protocols, enabling users to secure networks and participate in consensus mechanisms with their [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) in exchange for rewards. The company positions itself as a key infrastructure provider in the digital asset space, with a slogan, \"Democratising value creation in digital assets.\" Its primary business model is serving as an aggregator and enabler, offering a platform and tools for institutional clients like custodians, wallets, exchanges, and asset managers to integrate \"Earn\" functionalities directly into their own products.  [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT) \n\nThe platform is designed to be chain-agnostic, supporting over 30 [Proof-of-Stake (PoS)](https://iq.wiki/wiki/proof-of-stake) networks. By 2025, the company reported having over $18 billion in delegated assets under management. [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu) Kiln's strategy evolved from being a direct operator of staking infrastructure to becoming a neutral marketplace, aiming to provide a comprehensive platform for accessing services from various staking operators and protocols rather than competing with them. [\\[2\\]](#cite-id-OOEuPC5266JjK9vz)​\n\nTo serve its institutional clientele, Kiln achieved SOC 2 Type II compliance, a certification for security, availability, processing integrity, confidentiality, and privacy. The company also offers slashing coverage to mitigate financial penalties for validator misbehavior or downtime, a key risk in [staking](https://iq.wiki/wiki/staking). [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu) [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT) [\\[1\\]](#cite-id-DVeoop1maOJAwiPQ) \n\n## History\n\nKiln was founded in 2018 by [Laszlo Szabo](https://iq.wiki/wiki/laszlo-szabo), Thomas de Phuoc, and Ernest Oppetit, with its headquarters in Paris, France. [\\[2\\]](#cite-id-OOEuPC5266JjK9vz)​\n\nBetween 2021 and 2023, the company's primary focus was on developing and providing staking infrastructure and APIs for various blockchain networks. Following 2023, Kiln's strategy expanded to build a broader institutional infrastructure for on-chain asset management, aligning with industry growth in areas like tokenized [stablecoins](https://iq.wiki/wiki/stablecoin) and [Real-World Assets (RWAs)](https://iq.wiki/wiki/real-world-assets-rwas). [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu)​\n\n### September 2025 Security Incident and Validator Exit\n\nIn September 2025, a vulnerability in a Kiln-provided API was exploited, resulting in a financial loss of approximately $40 million in [Solana](https://iq.wiki/wiki/solana) (SOL) tokens from one of its partners, [SwissBorg](https://iq.wiki/wiki/swissborg). \n\nIn response to the exploit, on September 10, 2025, Kiln initiated a precautionary \"orderly exit\" from all its remaining managed [Ethereum](https://iq.wiki/wiki/ethereum) validator nodes to safeguard customer assets from potential further vulnerabilities. The company estimated the exit process would take between 10 and 42 days, during which the validators would continue to earn rewards. Withdrawals initiated following the incident were projected to take up to nine days to process.  [\\[5\\]](#cite-id-I7zIbB7CMdPCBZWe)​\n\n### Company Milestones\n\n* **2025:** Surpassed $18 billion in delegated assets under management. \n* **January 2026:** Reported validator performance for [Solana](https://iq.wiki/wiki/solana), achieving a 7.11% Gross Rewards Rate (GRR) with a skip rate 0.21 points lower than the network average.\n* **Undated (pre-2026):** Became SOC 2 Type II compliant, a key institutional benchmark.\n* **Undated (pre-2026):** Announced it would support staking for the [Monad](https://iq.wiki/wiki/monad) (MON) network. [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu)\n\n## Products\n\n### Staking and Yield-Generation\n\n* **Validators-as-a-Service:** Provides institutional-grade validator infrastructure for [staking](https://iq.wiki/wiki/staking) on over 30 [Proof-of-Stake](https://iq.wiki/wiki/proof-of-stake) networks. \n* **Enterprise Dashboard:** A unified B2B platform for managing staked capital, tracking yield, and overseeing \"Earn\" programs across various protocols. [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT)\n* **Kiln On-Chain:** A customizable, whitelabelled staking solution for [Ethereum](https://iq.wiki/wiki/ethereum). It offers dedicated validators for users staking 32 ETH or more and a pooled staking solution for users with less than 32 ETH. \n* **dApp:** A user-facing decentralized application that enables simplified staking and restaking for [Ethereum](https://iq.wiki/wiki/ethereum), including a \"1-click\" feature. [\\[1\\]](#cite-id-DVeoop1maOJAwiPQ)\n* **DeFi Products:** The platform provides access to [decentralized finance](https://iq.wiki/wiki/defi) yields through products like OmniVault, an infrastructure layer for curated [DeFi](https://iq.wiki/wiki/defi) strategies, and direct integrations with protocols such as [Aave](https://iq.wiki/wiki/aave), [Morpho](https://iq.wiki/wiki/morpho), and [Compound](https://iq.wiki/wiki/compound). [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu) [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT)\n\n### Integration and Aggregator Tools\n\n* **Kiln Connect:** A comprehensive SDK and API suite.\n\n  * **One SDK:** A single Software Development Kit that standardizes interactions for staking, rewards management, and other functions across all supported protocols.\n  * **Reporting API:** Delivers real-time on-chain data and reporting for tracking staked assets and rewards.\n  * **Transaction Crafting API:** An API that simplifies the creation, signing, and broadcasting of staking and unstaking transactions.\n* **Kiln Widget:** A no-code, embeddable component that allows partners to create and manage an \"Earn\" section within their own applications or websites with minimal development effort.\n\nThese tools are central to Kiln's aggregator model, allowing a wide range of companies to offer [staking](https://iq.wiki/wiki/staking) to their users. [\\[1\\]](#cite-id-DVeoop1maOJAwiPQ) [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT)​\n\n### Bitcoin Staking\n\nKiln is involved in the emerging field of [Bitcoin](https://iq.wiki/wiki/bitcoin) [staking](https://iq.wiki/wiki/staking), which enables [Bitcoin](https://iq.wiki/wiki/bitcoin) (BTC) to be used to secure other blockchain ecosystems. This functions differently from traditional PoS [staking](https://iq.wiki/wiki/staking) and is intended to \"bootstrap additional protocols' economic security by tapping into the massive idle supply\" of [Bitcoin](https://iq.wiki/wiki/bitcoin). The platform supports implementations such as Babylon, Core, and [Stacks](https://iq.wiki/wiki/stacks). Kiln has also hosted a podcast series, \"Kiln BTC [Staking](https://iq.wiki/wiki/staking) Rendez-Vous,\" to discuss the developing technologies in this area. [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT) [\\[2\\]](#cite-id-OOEuPC5266JjK9vz)​\n\n## Partnerships and Collaborations\n\nKiln’s business model relies on a wide network of integrations and partnerships with institutional entities.\n\n### Clients and Integrations\n\n* VanEck\n* CoinShares\n* Fireblocks\n* Ledger\n* [Coinbase](https://iq.wiki/wiki/coinbase)\n* Crypto.com\n* [Binance.US](https://iq.wiki/wiki/binance-us) [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu) [\\[2\\]](#cite-id-OOEuPC5266JjK9vz)\n\n### Strategic Partnerships\n\n* **Trust Wallet:** Kiln partnered with [Trust Wallet](https://iq.wiki/wiki/trust-wallet) to integrate native [stablecoin](https://iq.wiki/wiki/stablecoin) yield services directly into the wallet application. This integration generated over $184 million in Total Value Locked (TVL) across [USDC](https://iq.wiki/wiki/usdc), [USDT](https://iq.wiki/wiki/tether), and [DAI](https://iq.wiki/wiki/dai) within its first nine months.\n* **SwissBorg:** Kiln served as the staking partner for [SwissBorg](https://iq.wiki/wiki/swissborg), providing the API infrastructure for its \"[Solana](https://iq.wiki/wiki/solana) Earn\" program.\n* **Safe (formerly Gnosis Safe):** Kiln provides the underlying infrastructure for yield generation on select products within the [Safe](https://iq.wiki/wiki/safe) ecosystem. \n* **Lido Finance:** Kiln is a v3 [Node](https://iq.wiki/wiki/node) Operator for Lido Finance, allowing institutions to stake [ETH](https://iq.wiki/wiki/ethereum) through Kiln's validators and receive the stETH [liquid staking](https://iq.wiki/wiki/liquid-staking) token. This collaboration also extends to strategy development around products like Lido's V3 stVaults.\n\nKiln supports [Bitcoin](https://iq.wiki/wiki/bitcoin) [staking](https://iq.wiki/wiki/staking) through integrations with institutional custody partners, including Fireblocks, [Anchorage Digital](https://iq.wiki/wiki/anchorage-digital), and Fordefi. [\\[3\\]](#cite-id-czY2oH3ZMiemcbYu) [\\[5\\]](#cite-id-I7zIbB7CMdPCBZWe) [\\[2\\]](#cite-id-OOEuPC5266JjK9vz) [\\[4\\]](#cite-id-m1Rr8iXgkj7O9ieT)​","summary":"Kiln is an enterprise-grade staking platform that provides infrastructure for institutions to earn rewards on digital assets. The platform acts as an aggregator, supporting over 30 Proof-of-Stake networks and simplifying staking across multiple protocols.","images":[{"id":"QmcL8qpw8A8aSAFBT6cjGjcupiMz9YLv27r9Ykkt62v778","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Protocols"},{"id":"Ethereum"},{"id":"Organizations"},{"id":"Solana"},{"id":"Polkadot"}],"media":[],"metadata":[{"id":"references","value":"[{\"id\":\"DVeoop1maOJAwiPQ\",\"url\":\"https://www.kiln.fi/about\",\"description\":\"Kiln's official 'About Us' page\",\"timestamp\":1772970137419},{\"id\":\"OOEuPC5266JjK9vz\",\"description\":\"Kiln YouTube Channel\",\"timestamp\":1772970569307,\"url\":\"https://www.youtube.com/channel/UCegmzwd40b91ikGzZBgAa4w\"},{\"id\":\"czY2oH3ZMiemcbYu\",\"description\":\"LinkedIn: Kiln\",\"timestamp\":1772970582203,\"url\":\"https://www.linkedin.com/company/kiln-fi/\"},{\"id\":\"m1Rr8iXgkj7O9ieT\",\"description\":\"Kiln - Bitcoin Staking\",\"timestamp\":1772970603240,\"url\":\"https://www.kiln.fi/bitcoin-staking\"},{\"id\":\"I7zIbB7CMdPCBZWe\",\"description\":\"The Block - Kiln exits Ethereum validators in safety move after SwissBorg’s $40 million hack\",\"timestamp\":1772970616374,\"url\":\"https://www.theblock.co/post/370141/kiln-exits-ethereum-validators\"}]"},{"id":"website","value":"https://www.kiln.fi/"},{"id":"twitter_profile","value":"https://x.com/Kiln_finance"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/kiln-fi/"},{"id":"youtube_profile","value":"https://www.youtube.com/channel/UCegmzwd40b91ikGzZBgAa4w"},{"id":"references","value":"[{\"id\":\"DVeoop1maOJAwiPQ\",\"url\":\"https://www.kiln.fi/about\",\"description\":\"Kiln's official 'About Us' page\",\"timestamp\":1772970137419},{\"id\":\"OOEuPC5266JjK9vz\",\"description\":\"Kiln YouTube Channel\",\"timestamp\":1772970569307,\"url\":\"https://www.youtube.com/channel/UCegmzwd40b91ikGzZBgAa4w\"},{\"id\":\"czY2oH3ZMiemcbYu\",\"description\":\"LinkedIn: Kiln\",\"timestamp\":1772970582203,\"url\":\"https://www.linkedin.com/company/kiln-fi/\"},{\"id\":\"m1Rr8iXgkj7O9ieT\",\"description\":\"Kiln - Bitcoin Staking\",\"timestamp\":1772970603240,\"url\":\"https://www.kiln.fi/bitcoin-staking\"},{\"id\":\"I7zIbB7CMdPCBZWe\",\"description\":\"The Block - Kiln exits Ethereum validators in safety move after SwissBorg’s $40 million hack\",\"timestamp\":1772970616374,\"url\":\"https://www.theblock.co/post/370141/kiln-exits-ethereum-validators\"}]"},{"id":"commit-message","value":"\"Added Kiln wiki page\""}],"events":[{"id":"2f8370b6-0849-465b-af69-2683643de573","date":"2018-01","title":"Kiln Founded","type":"CREATED","description":"Kiln was founded by Laszlo Szabo, Thomas de Phuoc, and Ernest Oppetit in Paris, France.","link":null,"multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"4d7025c1-eb33-4039-9c4e-fb51726fafa5","date":"2024-01","title":"Achieved SOC 2 Type II Compliance","type":"DEFAULT","description":"Kiln achieved SOC 2 Type II compliance, a key security and operational benchmark for serving institutional clients.","link":null,"multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"3ad3285a-6129-4e10-9380-7b306a4d4e29","date":"2024-05","title":"Strategic Pivot to Aggregator Model","type":"DEFAULT","description":"Kiln announced a strategic pivot to shut down its own public Ethereum validators to focus exclusively on its role as a staking aggregator and avoid competing with its clients.","link":"https://www.theblock.co/post/370141/kiln-exits-ethereum-validators","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"995d2ce3-4b0b-4cd7-b0bb-81811e20be07","date":"2025-06","title":"Surpassed $18 Billion in Delegated Assets","type":"DEFAULT","description":"The platform surpassed $18 billion in delegated assets under management from its institutional clients.","link":null,"multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"2e494d5d-dbb4-4858-aefd-e6d1e3decf34","date":"2025-09","title":"Security Incident and Ethereum Validator Exit","type":"DEFAULT","description":"A vulnerability in a Kiln-provided API was exploited, resulting in a loss for partner SwissBorg. 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