On Ethereum, Figment is the largest non-custodial staking provider with nearly 5% of staked ETH on Figment validators.

Figment is fueling Web3 Success with blockchain infrastructure as the leading staking provider. This article will briefly delve into their support of Concordium and the benefits that it can bring to the Concordium and entire Web3 ecosystem. Let’s dive right into it!

Figment: An Unparalleled Staking Service Provider

Staking is a crucial part of DeFi because it involves users locking up their cryptocurrencies to help the network. In exchange for their help, they get rewards, which encourages more people to join in. Essentially, staking builds trust, makes things work well, and rewards those involved, which attracts both investors and developers, making the whole system stronger and more attractive.

Institutional staking services play a key role in fostering DeFi and Web3 adoption by offering a bridge between traditional finance and the decentralized world. These services provide the security, reliability, and scalability that institutional investors demand, instilling confidence in the DeFi ecosystem. By participating in staking through these platforms, institutions not only earn rewards but also actively secure and validate blockchain networks, contributing to their overall robustness.

In the dynamic landscape of Web3 Figment emerges as the leading institutional staking service provider with over 250 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders.

What does Figment bring to Concordium?

Every single day institutional players engage more and more with DeFi protocols. They are pushing the boundaries of what’s possible in the crypto space , attracting more liquidity, and fueling the growth of a huge number of DApps that act as seamless and alluring pathways for traditional financial giants to create new products in the exciting realm of Web3 and DeFi.

Figment and Concordium are united in their commitment to security and compliance. Concordium’s mission is building a safer digital tomorrow by adding certainty, accountability and traceability to every single interactionigment’s institutional staking service offers highly secure, seamless point-and-click staking, portfolio reward tracking, API integrations, audited infrastructure, and slashing protection. By adding world renowned Figment as a staking and validation partner, Concordium significantly strengthens both the ecosystem and the decentralization of the network.

“I’m thrilled about our support for Concordium and its unique approach as a Proof-of-Stake blockchain with built-in age identification protocols. As a Layer One, Concordium’s focus on scalability, security, decentralization, and regulation, while also ensuring compliance, positions it uniquely in the market.” — Clayton Menzel, Director of Protocol Strategy at Figment

“Welcoming a world-leading staking provider to Concordium is great news for all the participants in our ecosystem. The partnership with Figment brings a vast range of opportunities to Concordium” — Lars Seier Christensen, CEO & Founder of Concordium

Please Download our DeFi report to learn more about how Decentralized Finance (DeFi) is impacting Traditional Finance (TradFi).

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