Nicolas - How to create a competitive staking marketplace inside a secure ecosystem

Transcript

all right hello everyone so my name is Nico I'm the davel at Ledger and I'm going to give you a small presentation around U Ledger Integrations with staking so all of you probably know Ledger that's it so Ledger is the biggest uh Hardware wallet in the industry uh we are securing about 20% of the entire crypto assets so that's as you can guess a lot of money and that's money that could be staken because a cold wallet is basically where

you store your savings and whatever so we are actually a very very good use case for staking we have a huge um actually we know have sold more than six million so this numbers are not up to to date and what we do is we prevent people from losing money uh losing money to hacks so for a staking it can be quite interesting to have your savings into a safe place somewhere that is not going to get hacked or um actually that's not going to fail we have a resilient design which means that even if Ledger were to disappear and to go bankrupt we would

still be you would still be able to recover your funds and use another wallet how do we do all this um basically we have a very specific architecture that we are the only one to have in the ecosystem we are running proprietary uh code we have designed an entire operating system that runs on a smart card and basically we are the only one the only company in the world that knows how to run code on a smart card this makes us very secure and this makes us able to do cool stuff while staying in a very secure

environment as you know there is currently 28.5 or about 30 million is that are St this is a huge amount of money but it's only 23% of the entire ethereum Supply which means that there is a lot of East that is sitting somewhere and that is not State and to give you an Insight it's mostly staying on Ledger devices so there is a huge opportunity as you can guess um to come and take that money that is not being staked so the more option the more product the more staking

diversity that you have the more likely people are to stake their conss so we are pushing Integrations um we are pushing protocols to get integrated in Ledger life so that people can stake their ease from Ledger live or simply stti their e most securely so I took the example of the kill integration that was super successful all they had to do is to create a little plug-in I will come back to the plugin later um it's a small piece of code that is running on the device that will allow to parse the contract basically um so this means that on your little screen on your Ledger you will see um a human

readable version of the functions over six months um with Kil you can find all the data on the Dune dashboard Kil received more than 4,000 uh 400,000 East so that's a substantial amount of money I think it's about uh yeah 800 million something like that so that's quite a lot and as you can see it has an impact on the staking um the global staking in ethereum meaning that now Kil is going up the rank congrats to Kil um so the plugin what does it do as I said it's just parsing the contract to

allow you to read the functions on your device so small example here I see the type of transaction it's a staking pulling boom as you can see I'm broke I don't stick much the sticking fees are huge and yeah this is the network State at the moment GS is pretty high so that's it this little piece of code basically what it's it doesn't look like much uh but it prevents your user from signing a a hex so if you don't have this plugin and that you're signing on a smart contract it will say you are signing um a

string that basically doesn't tell you anything what does this do basically if I DNS hijack one of your websites I can simply change the contract uh I will have the same front end your client your customer will click the stake button and instead of staking contract it will simply be my address and well a contract sending funds to my address and with this you can actually do some serious damage especially if you take staking transaction that can be very high amount so yeah having this prevents you totally

from this because basically now that Kil has this plugin if I'm a Kil user I know that when I use my l I see K and stuff so if one day I go to the K website and all of the student I see blind signing with a warning I will know that something's wrong because basically when I use my K uh website I I'm used to see this so yeah I will know something is wrong and this will prevent me from doing the transaction okay so how do you get this plug-in it's quite simple you can actually talk to me

and I will guide you too but we are an open platform so if you don't like me you don't even have to talk to me you can just go there um go on GitHub and see well first go on our developer portal and then find all the resources that are needed to make the plugin I'm not going to lie it's not that easy it's uh C embedded applications um so it requires some knowledge it's not everyone in the space that knows C we are building a lot of web devs uh I think in this space so it's C and it has some con constraints due obviously to the size of the device

and the type the secure element is as you guess not as powerful as your CPUs on your on your computers so it requires some expertise but any experienced cdev can definitely do it if you don't have an experienced cdev I can put you in touch with uh builders that are used to do it and that have buil tons of plugins so this is also an option basically once you have this plugin uh you can be integrated in the software wallet that we have leder live in the dis discover section um this software is obviously used by a lot

of our customers but you don't even have to stay inside um The Ledger life software once you have the plugin install on your device anytime it's going to hit the right contract that is pared by the plug-in it will simply show up so for example kill if I go on the kill website and I do one of the actions that is uh supported by the plugin it will trigger the plugin instantly so that's it once you have the plugin you're good you're good to go um and it's as easy as this so basically thank you for your attention that's it do we have some time for questions I

see yes yes so just for my understanding it means that when I am capable of doing this with my company um this plug-in and embed this on my uh staking operator website bricks. I then letro user can also stti with us or is there any other form of integration required so to have the plug-in deployed um you need to we need to act on the leder live software so that can download it um to do this you need to have a KN frame uh we what we do is like we put a an if frame of your website that is doing

basically exactly the same as your front you don't have anything to do except obviously removing the uh connectors to metam mask and stuff because we you will be inside the the leder live stuff uh this is like I don't know like I think it's like 50 line of code five minutes you copy paste it from the developer portal and that's it and then all we have to do is to deploy this Live app then people can download the plugin and then either use the live app inside leder live or on the website and that's it if you want further Integrations obviously there are further Integrations we have a native flow a stake button um that is currently where there are only I

think Leo and Kil in this native flow uh this requires more integration and a partnership with uh the business team which is not my my team I'm the deal um it's also doable I will be glad to put you in touch uh once you have done this but basically this first uh step of integration is the open platform thing you can you just come you do your thing and uh that's the the most basic integration and uh then yeah you can discuss further integration with the business how much is there currently stake with this open integration instead of the direct k um so we just launched the Ping um the Kil pooling like weeks ago I don't have

the exact number in mind but it would be I think a very good example to check that number would be simply to take the rocket pool stats we that's how we rocket pool did it uh so it's live I think it was live like three weeks or two weeks ago so it might be a bit soon um to take that data uh but yeah more and more are are joining and yeah I think we will share pretty the the data from this and uh yeah cool that's thanks other questions okay then thanks Nico thank you very

[Applause] much I we don't wait for uh 10 more minutes and continue so we can uh go uper a bit earlier ah okay then we'll wait after all